In 2024, there were 37 active reverse mortgage loans in Lamar County, Texas. The average home value in Lamar County is $196,502.30.

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

Lamar County, Texas, located in the northeastern part of the state, is home to a population of approximately 50,000 residents. Known for its rich history and picturesque rural landscapes, Lamar County offers a peaceful and close-knit community for its residents. The area is renowned for its agricultural heritage, producing cotton, soybeans, and cattle. With an average home value of $196,502.30 and property taxes averaging $2,998.26, Lamar County provides affordable housing options for residents. Seniors looking to unlock the equity in their homes may explore reverse mortgages, taking advantage of the average interest rate of 4.25% to supplement their retirement income. Considering the county’s historical significance and tranquil setting, Lamar County offers a desirable location for retirees seeking a peaceful and financially stable environment to enjoy their golden years.

Reverse Mortgage Loan Origination in Lamar County

Reverse Mortgage Home Values in Lamar County

Reverse Mortgage Interest Rates Lamar County

There are approximately 37 active reverse mortgage loans in Lamar County. The average interest rate in Lamar County is 5.08% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Lamar County was $412,500.00 in 2024.

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

With the average home value of $412,500.00, 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 Lamar 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 Lamar 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 »