In 2024, there were 1 active reverse mortgage loans in Washington Parish, Louisiana. The average home value in Washington Parish is $117,703.00.

Click here to get a reverse Mortgage Quote in Washington 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 Washington Parish

[Washington Parish, Louisiana,] is a tranquil and welcoming county located in the state of Louisiana. Known for its lush natural landscapes and friendly community, Washington Parish offers a peaceful setting for residents to call home. With a population of approximately 47,168, the area enjoys a moderate climate, making it an ideal place for those seeking a balance between urban amenities and rural charm. Historically, Washington Parish has played a significant role in the cultural and agricultural development of Louisiana. The area boasts a rich heritage, with traces of its past evident in historic landmarks and local traditions. As the average home value in Washington Parish stands at $117,703 and the average property tax is $245.22, seniors in the county may find that leveraging a reverse mortgage could provide financial stability in their retirement years. With an average interest rate of 0.0696, exploring the benefits of a reverse mortgage may offer seniors the opportunity to tap into their home equity to enhance their financial security and enjoy their retirement to the fullest.

Reverse Mortgage Loan Origination in Washington Parish

Reverse Mortgage Home Values in Washington Parish

Reverse Mortgage Interest Rates Washington Parish

There are approximately 1 active reverse mortgage loans in Washington Parish. The average interest rate in Washington Parish is 7.76% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Washington Parish was $145,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Washington 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 Washington Parish, LA

With the average home value of $145,000.00, 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 Washington 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 Washington 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 »