In 2024, there were 62 active reverse mortgage loans in Morgan County, Indiana. The average home value in Morgan County is $339,317.34.

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

Morgan County, located in the state of Indiana, boasts a population of approximately 74,000 residents and is known for its rich history and natural beauty. The county is home to charming small towns, picturesque countryside, and a variety of outdoor recreational opportunities. With a moderate climate characterized by all four seasons, Morgan County offers a pleasant environment for its residents. One interesting historical note about Morgan County is its connection to the Underground Railroad, with several sites in the county serving as stops for escaping slaves. For seniors looking to leverage their home equity, Morgan County’s average home value of 339,317.34 and property tax of 1,583.79 make it an appealing location for considering a reverse mortgage. With an average interest rate of 0.037, seniors could potentially benefit from tapping into their home’s equity to supplement their retirement income or cover unexpected expenses.

Reverse Mortgage Loan Origination in Morgan County

Reverse Mortgage Home Values in Morgan County

Reverse Mortgage Interest Rates Morgan County

There are approximately 62 active reverse mortgage loans in Morgan County. The average interest rate in Morgan County is 6.99% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Morgan County was $263,333.33 in 2024.

Click here to get a Reverse Mortgage Quote in Morgan 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 Morgan County, IN

With the average home value of $263,333.33, 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 Morgan 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 Morgan 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 »