In 2024, there were 25 active reverse mortgage loans in Fannin County, Texas. The average home value in Fannin County is $363,364.84.

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

Fannin County, located in the state of Texas, is widely known for its charming rural landscapes and historic attractions. With a population of approximately 35,713 residents, the county enjoys a moderate climate, characterized by hot summers and mild winters, making it an appealing destination for those seeking a peaceful countryside lifestyle. Fannin County boasts a rich history dating back to the 19th century, with landmarks such as the Sam Rayburn House Museum and the Bonham Historic District offering glimpses into its past. In terms of real estate, Fannin County has an average home value of $363,364.84, with property taxes averaging at $2,311.76 and an interest rate of 0.044512. For seniors looking to tap into their home equity, reverse mortgages can be a beneficial option in Fannin County. With the county’s steady property values and relatively low property taxes, seniors can leverage a reverse mortgage to access funds for retirement or cover expenses while continuing to live in their homes. This financial tool offers older homeowners flexibility and security as they navigate their golden years in the picturesque setting of Fannin County.

Reverse Mortgage Loan Origination in Fannin County

Reverse Mortgage Home Values in Fannin County

Reverse Mortgage Interest Rates Fannin County

There are approximately 25 active reverse mortgage loans in Fannin County. The average interest rate in Fannin County is 7.93% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Fannin County was $251,666.67 in 2024.

Click here to get a Reverse Mortgage Quote in Fannin 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 Fannin County, TX

With the average home value of $251,666.67, 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 Fannin 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 Fannin 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 »