In 2024, there were 225 active reverse mortgage loans in Carroll County, Maryland. The average home value in Carroll County is $473,761.82.

Click here to get a reverse Mortgage Quote in Carroll County, Maryland

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

Reverse Mortgage Loans in Carroll County

Carroll County, located in Maryland, is a vibrant community known for its picturesque landscapes, charming small towns, and rich historical heritage. With a population of approximately 168,447 residents, the county offers a mix of rural and suburban living, making it an attractive destination for families and retirees alike. Carroll County is famous for its agricultural traditions, with expansive farms and orchards contributing to its bucolic charm. Historically, Carroll County played a significant role in the Civil War, with several battles and skirmishes taking place within its borders. Today, the county boasts a strong sense of community pride and preservation of its heritage through various historical sites and museums. For seniors looking to leverage their home equity in retirement, Carroll County’s average home value of $473,761.82, combined with an average property tax of $3,825.06 and an average interest rate of 4.12%, make it an ideal location to consider a reverse mortgage as a financial option to support retirement needs.

Reverse Mortgage Loan Origination in Carroll County

Reverse Mortgage Home Values in Carroll County

Reverse Mortgage Interest Rates Carroll County

There are approximately 225 active reverse mortgage loans in Carroll County. The average interest rate in Carroll County is 7.52% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Carroll County was $439,375.00 in 2024.

Click here to get a Reverse Mortgage Quote in Carroll County, Maryland »

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 Carroll County, MD

With the average home value of $439,375.00, 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 Carroll County

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 Carroll County

You can now purchase a home with a reverse mortgage in {county}, MD. 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 »