In 2024, there were 150 active reverse mortgage loans in Bay County, Florida. The average home value in Bay County is $362,657.45.

Click here to get a reverse Mortgage Quote in Bay County, Florida

To avoid scams, make sure you are working with a licensed lender in Florida. South River Mortgage is a fully licensed lender in Florida. The FL state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Mortgage Lender License in FL, and our state license identifier is MLD2179.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Bay County

Located in the state of Florida, Bay County is home to a diverse population and offers a subtropical climate characterized by warm summers and mild winters. Known for its beautiful sandy beaches along the Gulf of Mexico, Bay County is a popular destination for tourists seeking sun, sand, and relaxation. The county is also recognized for its vibrant coastal communities, abundant outdoor recreational opportunities, and rich cultural heritage. With an average home value of $362,657.45 and an average property tax of $1,617.32, Bay County presents an attractive real estate market for potential homeowners. Additionally, with an average interest rate of 4.28%, seniors in Bay County may consider exploring reverse mortgages as a viable financial option. Reverse mortgages can provide seniors with a way to access the equity in their homes for supplemental income during retirement, offering a flexible solution for financial planning in later years.

Reverse Mortgage Loan Origination in Bay County

Reverse Mortgage Home Values in Bay County

Reverse Mortgage Interest Rates Bay County

There are approximately 150 active reverse mortgage loans in Bay County. The average interest rate in Bay County is 7.44% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Bay County was $412,619.05 in 2024.

Click here to get a Reverse Mortgage Quote in Bay County, Florida »

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 Bay County, FL

With the average home value of $412,619.05, 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 Bay 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 Bay County

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