In 2024, there were 269 active reverse mortgage loans in Durham County, North Carolina. The average home value in Durham County is $455,603.35.

Click here to get a reverse Mortgage Quote in Durham County, North Carolina

To avoid scams, make sure you are working with a licensed lender in North Carolina. South River Mortgage is a fully licensed lender in North Carolina. The NC 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 NC, and our state license identifier is L-222260.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Durham County

Durham County, located in North Carolina, is home to a vibrant and growing population. With an approximate population of 321,488, Durham County boasts a diverse community and a moderate climate that makes it an attractive place to live. The area is known for its renowned research institutions, including Duke University and Research Triangle Park, which contribute to the county’s reputation as a hub for innovation and education. Additionally, Durham County has a rich historical background, with landmarks such as the American Tobacco Historic District and Duke Homestead State Historic Site offering glimpses into the county’s past. Seniors in Durham County may find opportunities to access additional financial resources through reverse mortgages. With an average home value of $455,603.35 and an average property tax of $2,897.83, seniors who own their homes outright may consider leveraging their home equity through a reverse mortgage. This financial tool allows homeowners aged 62 and older to convert a portion of their home’s equity into cash, providing them with additional income for living expenses or other financial needs. Seniors interested in exploring reverse mortgage options in Durham County can benefit from the current low interest rate environment, which may make this financial product more attractive and accessible.

Reverse Mortgage Loan Origination in Durham County

Reverse Mortgage Home Values in Durham County

Reverse Mortgage Interest Rates Durham County

There are approximately 269 active reverse mortgage loans in Durham County. The average interest rate in Durham County is 7.48% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Durham County was $592,714.29 in 2024.

Click here to get a Reverse Mortgage Quote in Durham County, North Carolina »

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 Durham County, NC

With the average home value of $592,714.29, 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 Durham 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 Durham County

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