In 2024, there were 4 active reverse mortgage loans in Macon County, Alabama. The average home value in Macon County is $91,902.00.

Click here to get a reverse Mortgage Quote in Macon County, Alabama

To avoid scams, make sure you are working with a licensed lender in Alabama. South River Mortgage is a fully licensed lender in Alabama. The AL state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Consumer Credit License in AL, and our state license identifier is 23178.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Macon County

Macon County, Alabama, is a picturesque county located in the heart of the Southeastern United States. With a population of around 19,700 residents, Macon County offers a comfortable small-town atmosphere amidst its beautiful natural surroundings. The area is known for its rich history, including being the birthplace of legendary activist and educator, Booker T. Washington. The county’s charming communities, vibrant culture, and warm hospitality make it a desirable place to live for people of all ages. For seniors looking to tap into the equity of their homes, Macon County’s average home value of $91,902, combined with the average property tax of $413.58 and an average interest rate of 4.0775%, make it an attractive location for exploring the option of a reverse mortgage. A reverse mortgage allows homeowners aged 62 and older to convert a portion of their home equity into cash, providing financial flexibility and security in retirement. This can be particularly beneficial for seniors looking to supplement their income or cover healthcare expenses while continuing to live in the comfort of their own home.

Reverse Mortgage Loan Origination in Macon County

Reverse Mortgage Home Values in Macon County

Reverse Mortgage Interest Rates Macon County

There are approximately 4 active reverse mortgage loans in Macon County. The average interest rate in Macon 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 Macon County was $145,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Macon County, Alabama »

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 Macon County, AL

With the average home value of $145,000.00, 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 Macon 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 Macon County

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