In 2024, there were 62 active reverse mortgage loans in Franklin County, North Carolina. The average home value in Franklin County is $372,598.69.

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

Franklin County, located in the state of North Carolina, is home to a population of approximately 70,000 residents. Known for its beautiful countryside and rich history, the county offers a peaceful and welcoming atmosphere to its residents. The average home value in Franklin County is $372,598.69, with an average property tax of $2,025.14 and an average interest rate of 0.0482. Historically, Franklin County played a significant role during the American Civil War, with various battle sites and landmarks still preserved, showcasing its importance in shaping the nation’s history. For seniors looking to leverage their home equity, Franklin County provides opportunities for reverse mortgages to supplement retirement income. Reverse mortgages offer a flexible financial solution that allows seniors to access their home equity while remaining in their homes, making Franklin County an attractive destination for retirees looking to maintain their financial independence.

Reverse Mortgage Loan Origination in Franklin County

Reverse Mortgage Home Values in Franklin County

Reverse Mortgage Interest Rates Franklin County

There are approximately 62 active reverse mortgage loans in Franklin County. The average interest rate in Franklin County is 7.39% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Franklin County was $318,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Franklin 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 Franklin County, NC

With the average home value of $318,000.00, 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 Franklin 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 Franklin 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 »