In 2024, there were 7 active reverse mortgage loans in Mifflin County, Pennsylvania. The average home value in Mifflin County is $205,708.71.

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

Mifflin County, located in the state of Pennsylvania, is home to a population of approximately 46,118 residents. Known for its picturesque landscapes and rich historical significance, this county offers a blend of small-town charm and natural beauty. With a moderate climate characterized by four distinct seasons, Mifflin County attracts outdoor enthusiasts and history buffs alike. Rich in historical heritage, Mifflin County is known for its preserved historic sites and landmarks, including the historic courthouse and the Mifflin County Historical Society. For seniors looking to tap into the equity of their homes, exploring options such as a reverse mortgage could provide financial flexibility in retirement. With an average home value of $205,708.71 and property taxes averaging $2,520.47, seniors in Mifflin County may find a reverse mortgage to be a valuable tool in leveraging their property’s equity while remaining in their cherished homes. Considering the average interest rate of 3.99%, seniors can carefully evaluate how a reverse mortgage aligns with their financial goals in Mifflin County.

Reverse Mortgage Loan Origination in Mifflin County

Reverse Mortgage Home Values in Mifflin County

Reverse Mortgage Interest Rates Mifflin County

There are approximately 7 active reverse mortgage loans in Mifflin County. The average interest rate in Mifflin County is 8.05% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Mifflin County was $245,000.00 in 2024.

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

With the average home value of $245,000.00, 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 Mifflin 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 Mifflin 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 »