In 2024, there were 757 active reverse mortgage loans in Sumter County, Florida. The average home value in Sumter County is $443,707.45.

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

Sumter County is located in the state of Florida and is known for its picturesque landscapes and tranquil atmosphere. The county boasts a population of approximately 140,000 residents and enjoys a mild climate, characterized by warm temperatures and plenty of sunshine. Historically, Sumter County played a significant role in the Civil War and was also home to several Native American tribes. With an average home value of $443,707.45 and an average property tax of $3,182.76, Sumter County offers a desirable real estate market for both residents and investors. Seniors in Sumter County may also benefit from exploring options such as reverse mortgages, leveraging the equity in their homes for additional financial security. With a competitive average interest rate of 4.25%, seniors can take advantage of the value of their properties while enjoying the peaceful surroundings and amenities that Sumter County has to offer.

Reverse Mortgage Loan Origination in Sumter County

Reverse Mortgage Home Values in Sumter County

Reverse Mortgage Interest Rates Sumter County

There are approximately 757 active reverse mortgage loans in Sumter County. The average interest rate in Sumter County is 7.38% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Sumter County was $423,192.77 in 2024.

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

With the average home value of $423,192.77, 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 Sumter 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 Sumter 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 »