In 2024, there were 119 active reverse mortgage loans in Cecil County, Maryland. The average home value in Cecil County is $397,665.46.

Click here to get a reverse Mortgage Quote in Cecil 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 Cecil County

Cecil County, located in Maryland, is a charming area known for its rural landscapes, historic sites, and close-knit communities. While exact population figures are not available, Cecil County offers a diverse mix of suburban and rural living, along with a moderate climate that features all four seasons. The county is known for its proximity to the Chesapeake Bay, offering residents opportunities for outdoor recreation and water activities. With an average home value of $397,665.46 and property tax of $2633.38, Cecil County provides an attractive real estate market for homeowners. Seniors in the area may consider exploring reverse mortgages as a financial option. When considering a reverse mortgage, the current average interest rate of 0.0384 can be a crucial factor to take into account for those looking to tap into their home equity for retirement planning or other financial needs. Furthermore, the county’s historical significance and community spirit make it an appealing place for seniors to call home while exploring their financial options.

Reverse Mortgage Loan Origination in Cecil County

Reverse Mortgage Home Values in Cecil County

Reverse Mortgage Interest Rates Cecil County

There are approximately 119 active reverse mortgage loans in Cecil County. The average interest rate in Cecil County is 7.69% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Cecil County was $383,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Cecil 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 Cecil County, MD

With the average home value of $383,000.00, 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 Cecil 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 Cecil 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 »