In 2024, there were 16 active reverse mortgage loans in Vernon Parish, Louisiana. The average home value in Vernon Parish is $150,875.38.

Click here to get a reverse Mortgage Quote in Vernon Parish, Louisiana

To avoid scams, make sure you are working with a licensed lender in Louisiana. South River Mortgage is a fully licensed lender in Louisiana. The LA state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Residential Mortgage Lending License in LA, and our state license identifier is 1854525.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Vernon Parish

Vernon Parish is located in the state of Louisiana and is known for its rich history, beautiful landscapes, and vibrant community. With a population of approximately 50,000 residents, the area enjoys a mild climate with warm summers and mild winters, making it an ideal place to settle down and enjoy the great outdoors. The county is known for its outdoor recreational activities, including hunting, fishing, and camping, as well as its close proximity to the Kisatchie National Forest. One notable historical factor of Vernon Parish is its ties to the military, as it is home to Fort Polk, a major Army installation. This military presence has influenced the local economy and culture, adding a unique dynamic to the area. For seniors looking to tap into the equity of their homes, Vernon Parish offers opportunities for reverse mortgages. With an average home value of $150,875.375, an average property tax of $1,036.161875, and an average interest rate of 0.0383, seniors can explore the option of a reverse mortgage to supplement their income and enjoy a comfortable retirement in this charming Louisiana county.

Reverse Mortgage Loan Origination in Vernon Parish

Reverse Mortgage Home Values in Vernon Parish

Reverse Mortgage Interest Rates Vernon Parish

There are approximately 16 active reverse mortgage loans in Vernon Parish. The average interest rate in Vernon Parish is 7.58% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Vernon Parish was $165,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Vernon Parish, Louisiana »

Note that our loan origination data will not exactly match FHA’s HECM portfolio snapshot. This discrepancy occurs because FHA’s reports are limited to loans endorsed by FHA (i.e. HECMs only). We use a series of custom data criteria that make it possible to identify all reverse mortgages: HECMs, proprietary, and even single-purpose reverse mortgages.

Jumbo Reverse Mortgage in Vernon Parish, LA

With the average home value of $165,000.00, you may be wondering about the opportunities for jumbo loans.

The FHA has increased the HECM lending limit to $1,209,750 for 2025. If your property is valued above the HECM lending limit, you may be eligible for additional proceeds through the HomeForLife jumbo reverse mortgage.

Reverse Mortgage Refinance (HECM to HECM) in Vernon Parish

It might make sense to refinance your reverse mortgage. There are many situations where refinancing could be very beneficial to you:

• You want to get more cash out because your home value has increased substantially
• You want to pay less in interest by obtaining a lower interest rate
• You want to add a loved one to the reverse mortgage

As a bonus, South River Mortgage can sometimes provide multiple benefits at once, depending on the situation. There have been cases where we can help secure a lower interest rate and additional cash. In some cases, we have been able to do all three benefits: lower rate, more cash, and adding a son or daughter onto the mortgage.

South River Mortgage can help you refinance your reverse mortgage. Get a quote today »

Reverse for Purchase (HECM for Purchase) in Vernon Parish

You can now purchase a home with a reverse mortgage in {county}, LA. The reverse for purchase lets homebuyers purchase the home and get a reverse mortgage in a single transaction. The requirements for a reverse for purchase are very similar to the traditional reverse mortgage program.

Purchasing a home with a reverse mortgage has many benefits:

• No monthly mortgage payment (although you’d still be responsible for property taxes and homeowner’s insurance)
• The home being purchased would meet HUD’s property requirements or minimum property standards (this helps keep the home safe for occupants)

Learn what your down payment would be using our Reverse for Purchase calculator. Or, get pre-approved today »