In 2024, there were 12 active reverse mortgage loans in DeSoto County, Florida. The average home value in DeSoto County is $338,007.25.

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

DeSoto County is located in the state of Florida with a population of approximately 37,000 residents. Known for its rich history and natural beauty, DeSoto County is home to a thriving agricultural community and is famous for its citrus production. The county boasts a warm and sunny climate, making it an ideal destination for outdoor enthusiasts and nature lovers. With an average home value of $338,007.25 and an average property tax of $2,097.96, DeSoto County offers affordable real estate options for those looking to settle in this charming area. Seniors in DeSoto County may find reverse mortgages to be a practical financial solution, allowing them to tap into their home equity to supplement their retirement income. With an average interest rate of 4.37%, seniors can explore the benefits of reverse mortgages as a way to enhance their financial security in their golden years.

Reverse Mortgage Loan Origination in DeSoto County

Reverse Mortgage Home Values in DeSoto County

Reverse Mortgage Interest Rates DeSoto County

There are approximately 12 active reverse mortgage loans in DeSoto County. The average interest rate in DeSoto County is 7.7% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in DeSoto County was $285,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in DeSoto 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 DeSoto County, FL

With the average home value of $285,000.00, 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 DeSoto 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 DeSoto 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 »