In 2024, there were 509 active reverse mortgage loans in Marion County, Indiana. The average home value in Marion County is $287,497.35.

Click here to get a reverse Mortgage Quote in Marion County, Indiana

To avoid scams, make sure you are working with a licensed lender in Indiana. South River Mortgage is a fully licensed lender in Indiana. The IN state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Department of Financial Institutions, Mortgage Lending License in IN, and our state license identifier is 62995.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Marion County

Marion County is located in the state of Indiana and is home to a diverse population. With a population of over 900,000 residents, the county experiences a variety of climates throughout the year, from hot summers to cold winters. Marion County is best known for being the home of the city of Indianapolis, the state capital and a thriving metropolitan area filled with cultural attractions, sports events, and a rich history. The average home value in Marion County is $287,497.35, with an average property tax of $2,512.61 and an average interest rate of 0.045%. For seniors looking to tap into their home equity, Marion County offers a range of options including reverse mortgages. This financial product allows homeowners aged 62 and older to convert part of their home’s equity into cash, providing them with added financial flexibility and security in their retirement years. With its combination of affordable housing and diverse amenities, Marion County is a desirable location for seniors considering a reverse mortgage.

Reverse Mortgage Loan Origination in Marion County

Reverse Mortgage Home Values in Marion County

Reverse Mortgage Interest Rates Marion County

There are approximately 509 active reverse mortgage loans in Marion County. The average interest rate in Marion County is 7.51% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Marion County was $244,846.15 in 2024.

Click here to get a Reverse Mortgage Quote in Marion County, Indiana »

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 Marion County, IN

With the average home value of $244,846.15, 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 Marion 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 Marion County

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