In 2024, there were 43 active reverse mortgage loans in Surry County, North Carolina. The average home value in Surry County is $283,445.40.

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

Surry County, located in the state of North Carolina, is home to a diverse population and boasts a rich history. With a population of approximately 72,674 residents and a moderate climate, Surry County offers a peaceful and scenic environment for its inhabitants. The area is known for its natural beauty, including the picturesque Blue Ridge Mountains, charming small towns, and outdoor recreational opportunities. Surry County has a unique historical significance, being the birthplace of influential figures such as legendary actor Andy Griffith. The average home value in Surry County is $283,445.39, with an average property tax of $969.93 and an average interest rate of 4.27%. For seniors looking to utilize their home equity in retirement, reverse mortgages can be a valuable financial tool in Surry County. This option allows homeowners aged 62 and older to convert part of their home equity into cash, providing added financial security and flexibility in their golden years.

Reverse Mortgage Loan Origination in Surry County

Reverse Mortgage Home Values in Surry County

Reverse Mortgage Interest Rates Surry County

There are approximately 43 active reverse mortgage loans in Surry County. The average interest rate in Surry County is 8.01% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Surry County was $281,000.00 in 2024.

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

With the average home value of $281,000.00, 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 Surry 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 Surry 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 »