In 2024, there were 8 active reverse mortgage loans in Livingston County, Illinois. The average home value in Livingston County is $127,157.38.

Click here to get a reverse Mortgage Quote in Livingston County, Illinois

To avoid scams, make sure you are working with a licensed lender in Illinois. South River Mortgage is a fully licensed lender in Illinois. The IL state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Residential Mortgage License in IL, and our state license identifier is MB.6761576.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Livingston County

Livingston County is a picturesque area located in the state of Illinois, known for its charming small towns, beautiful countryside, and friendly community. With a population of around 38,712 residents, this county offers a tranquil living environment and a moderate climate characterized by warm summers and cold winters. Founded in 1837, Livingston County has a rich history, including its role as an important transportation hub in the 19th century with the Illinois Central Railroad passing through the area. The average home value in Livingston County is $127,157.375, and residents pay an average property tax of $2002.8575. For seniors looking to tap into their home equity, considering a reverse mortgage could be a viable option. With an average interest rate of 0.0362375, seniors can leverage the equity in their homes to supplement their retirement income without having to make monthly mortgage payments, providing financial flexibility in their golden years.

Reverse Mortgage Loan Origination in Livingston County

Reverse Mortgage Home Values in Livingston County

Reverse Mortgage Interest Rates Livingston County

There are approximately 8 active reverse mortgage loans in Livingston County. The average interest rate in Livingston County is 8.17% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Livingston County was $260,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Livingston County, Illinois »

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 Livingston County, IL

With the average home value of $260,000.00, 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 Livingston 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 Livingston County

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