In 2024, there were 407 active reverse mortgage loans in Chester County, Pennsylvania. The average home value in Chester County is $549,071.79.

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

Chester County, located in the state of Pennsylvania, is known for its picturesque landscapes, charming small towns, and vibrant community. With a population of over 500,000 residents, the county offers a mix of suburban and rural living along with a rich historical heritage. From historic sites like the Valley Forge National Historical Park to the renowned Longwood Gardens, Chester County showcases its deep-rooted history and natural beauty. The average home value in Chester County is $549,071.79, with property taxes averaging $5,757.80 and an average interest rate of 0.0409. For seniors looking to unlock the equity in their homes, reverse mortgages can be a valuable financial tool. With Chester County’s strong housing market and property values, seniors may find reverse mortgages to be a beneficial option to supplement their retirement income and maintain financial stability in their golden years.

Reverse Mortgage Loan Origination in Chester County

Reverse Mortgage Home Values in Chester County

Reverse Mortgage Interest Rates Chester County

There are approximately 407 active reverse mortgage loans in Chester County. The average interest rate in Chester County is 7.51% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Chester County was $518,030.30 in 2024.

Click here to get a Reverse Mortgage Quote in Chester 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 Chester County, PA

With the average home value of $518,030.30, 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 Chester 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 Chester 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 »