In 2024, there were 12 active reverse mortgage loans in Lamar County, Georgia. The average home value in Lamar County is $234,503.00.

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

Located in the state of Georgia, Lamar County is a charming area with a population known for its friendly community atmosphere. The county is renowned for its picturesque landscapes, including rolling hills and lush greenery, making it an ideal location for those seeking a peaceful and scenic environment. With a historical background dating back to its establishment in 1920, Lamar County has a rich heritage that is reflected in its historic landmarks and cultural offerings. Seniors looking to unlock the financial potential of their homes in Lamar County may benefit from considering a reverse mortgage. With an average home value of $234,503, an average property tax of $1,624.64, and an average interest rate of 0.050374999999999996, homeowners can leverage their home equity to supplement their retirement income. By tapping into the equity they have built over the years, seniors in Lamar County can access a source of funds that can help support their financial needs in retirement.

Reverse Mortgage Loan Origination in Lamar County

Reverse Mortgage Home Values in Lamar County

Reverse Mortgage Interest Rates Lamar County

There are approximately 12 active reverse mortgage loans in Lamar County. The average interest rate in Lamar County is 7.77% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Lamar County was $265,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Lamar 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 Lamar County, GA

With the average home value of $265,000.00, 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 Lamar 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 Lamar 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 »