In 2024, there were 55 active reverse mortgage loans in Dorchester County, Maryland. The average home value in Dorchester County is $306,960.60.

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

Dorchester County, located in the state of Maryland, is home to a rich history and vibrant community. With a population of approximately 32,618 residents, the county features a diverse blend of landscapes, from coastal areas along the Chesapeake Bay to rural farmland. Dorchester County is known for its picturesque waterfront towns, outdoor recreational opportunities, and cultural heritage sites. The area holds historical significance as one of the oldest colonial settlements in Maryland, with landmarks such as the Harriet Tubman Underground Railroad Visitor Center preserving the county’s role in the abolitionist movement. For seniors in Dorchester County looking to tap into their home equity, reverse mortgages can provide a valuable financial option. With an average home value of $306,960.60, seniors can leverage their property to access funds for retirement expenses or other needs. The average property tax of $2,766.62 and low interest rate of 0.0443 make Dorchester County an attractive location for seniors considering a reverse mortgage, offering a stable housing market and favorable financial conditions for this type of financial tool.

Reverse Mortgage Loan Origination in Dorchester County

Reverse Mortgage Home Values in Dorchester County

Reverse Mortgage Interest Rates Dorchester County

There are approximately 55 active reverse mortgage loans in Dorchester County. The average interest rate in Dorchester County is 7.99% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Dorchester County was $335,000.00 in 2024.

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

With the average home value of $335,000.00, 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 Dorchester 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 Dorchester 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 »