In 2024, there were 233 active reverse mortgage loans in Cherokee County, Georgia. The average home value in Cherokee County is $493,240.16.

Click here to get a reverse Mortgage Quote in Cherokee County, Georgia

To avoid scams, make sure you are working with a licensed lender in Georgia. South River Mortgage is a fully licensed lender in Georgia. The GA 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/Registration in GA, and our state license identifier is 1854525.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Cherokee County

Cherokee County is located in the state of Georgia and is known for its beautiful mountains, forests, and charming small towns. With a population of approximately 254,149 residents, the area offers a mix of suburban and rural living, making it an attractive destination for families and retirees alike. Cherokee County has a rich history, with notable sites such as the Funk Heritage Center and the Cherokee County History Museum preserving its cultural heritage. The average home value in Cherokee County is $493,240.16, with an average property tax of $1,233.89 and an average interest rate of 4.18%. For seniors looking to tap into their home equity, Cherokee County offers opportunities for reverse mortgages, allowing homeowners aged 62 and older to convert a portion of their home’s value into cash without selling their property. This financial option can provide seniors with additional income to support their retirement and enhance their quality of life in this picturesque county.

Reverse Mortgage Loan Origination in Cherokee County

Reverse Mortgage Home Values in Cherokee County

Reverse Mortgage Interest Rates Cherokee County

There are approximately 233 active reverse mortgage loans in Cherokee County. The average interest rate in Cherokee County is 7.46% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Cherokee County was $442,200.00 in 2024.

Click here to get a Reverse Mortgage Quote in Cherokee County, Georgia »

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 Cherokee County, GA

With the average home value of $442,200.00, 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 Cherokee 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 Cherokee County

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