In 2024, there were 181 active reverse mortgage loans in Ellis County, Texas. The average home value in Ellis County is $394,657.18.

Click here to get a reverse Mortgage Quote in Ellis County, Texas

To avoid scams, make sure you are working with a licensed lender in Texas. South River Mortgage is a fully licensed lender in Texas. The TX state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Department of Savings and Mortgage Lending Mortgage Company License in TX, and our state license identifier is 1854525.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Ellis County

Ellis County, located in the state of Texas, is a vibrant region known for its rich history and growing population. Ellis County is home to approximately 200,000 residents and enjoys a moderate climate with hot summers and mild winters. The area is known for its scenic landscapes, historical sites, and strong sense of community. Historically, Ellis County played a significant role in the development of Texas, being home to the Chisholm Trail and serving as an important agricultural center. Today, the county is recognized for its diverse economy, excellent schools, and quality of life. With an average home value of $394,657.18 and an average property tax of $2,430.21, Ellis County offers a range of housing options for residents. Seniors in the area may find reverse mortgages to be a valuable financial tool, allowing them to tap into their home equity to supplement their retirement income. With an average interest rate of 4.50%, reverse mortgages can provide seniors with added financial flexibility and security in their golden years.

Reverse Mortgage Loan Origination in Ellis County

Reverse Mortgage Home Values in Ellis County

Reverse Mortgage Interest Rates Ellis County

There are approximately 181 active reverse mortgage loans in Ellis County. The average interest rate in Ellis County is 7.76% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Ellis County was $366,081.08 in 2024.

Click here to get a Reverse Mortgage Quote in Ellis County, Texas »

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 Ellis County, TX

With the average home value of $366,081.08, 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 Ellis 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 Ellis County

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