In 2024, there were 180 active reverse mortgage loans in Gila County, Arizona. The average home value in Gila County is $463,733.98.

Click here to get a reverse Mortgage Quote in Gila County, Arizona

To avoid scams, make sure you are working with a licensed lender in Arizona. South River Mortgage is a fully licensed lender in Arizona. The AZ state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Mortgage Banker License in AZ, and our state license identifier is 1031338.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Gila County

Gila County is located in the state of Arizona, with a population of approximately 54,018 residents. Known for its picturesque landscapes and outdoor recreational opportunities, Gila County boasts stunning natural beauty with its vast forests, canyons, and rivers. The county’s diverse geography provides ample opportunities for hiking, fishing, and camping, making it a popular destination for outdoor enthusiasts and nature lovers. In terms of real estate, the average home value in Gila County is $463,733.98, with an average property tax of $2,322.07 and an average interest rate of 4.53%. For seniors looking to supplement their retirement income, a reverse mortgage could be a viable option. By utilizing the equity in their homes, seniors can receive tax-free funds that can help cover living expenses or finance home renovations. It’s essential for seniors to thoroughly research and understand the terms and implications of a reverse mortgage before considering this financial option.

Reverse Mortgage Loan Origination in Gila County

Reverse Mortgage Home Values in Gila County

Reverse Mortgage Interest Rates Gila County

There are approximately 180 active reverse mortgage loans in Gila County. The average interest rate in Gila County is 7.47% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Gila County was $633,846.15 in 2024.

Click here to get a Reverse Mortgage Quote in Gila County, Arizona »

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 Gila County, AZ

With the average home value of $633,846.15, 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 Gila 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 Gila County

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