In 2024, there were 263 active reverse mortgage loans in Berks County, Pennsylvania. The average home value in Berks County is $316,714.54.

Click here to get a reverse Mortgage Quote in Berks County, Pennsylvania

To avoid scams, make sure you are working with a licensed lender in Pennsylvania. South River Mortgage is a fully licensed lender in Pennsylvania. The PA 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 PA, and our state license identifier is 94894.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Berks County

Located in the state of Pennsylvania, Berks County is a vibrant area known for its rich history, picturesque landscapes, and thriving community. The county has a population of approximately 421,000 residents and is characterized by its varied climate, with warm summers and cold winters. Berks County is renowned for its colonial heritage, with several historic sites such as the Hopewell Furnace National Historic Site and the Daniel Boone Homestead. Additionally, the county boasts a diverse economy, with a focus on agriculture, manufacturing, and technology. The average home value in Berks County is $316,714.54, with an average property tax of $4,744.97 and an average interest rate of 4.33%. Seniors in Berks County may benefit from reverse mortgages, a financial option that allows homeowners aged 62 and above to convert a portion of their home equity into cash, providing an extra source of income in retirement.

Reverse Mortgage Loan Origination in Berks County

Reverse Mortgage Home Values in Berks County

Reverse Mortgage Interest Rates Berks County

There are approximately 263 active reverse mortgage loans in Berks County. The average interest rate in Berks County is 7.41% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Berks County was $307,307.69 in 2024.

Click here to get a Reverse Mortgage Quote in Berks County, Pennsylvania »

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 Berks County, PA

With the average home value of $307,307.69, 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 Berks 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 Berks County

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