Reverse Mortgage Lenders in Porter County, Indiana – 2025
In 2024, there were 170 active reverse mortgage loans in Porter County, Indiana. The average home value in Porter County is $381,638.46.
Click here to get a reverse Mortgage Quote in Porter 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 Porter County
Porter County, located in the state of Indiana, is home to a population of approximately 170,389 residents. Known for its beautiful natural landscapes and historic attractions, Porter County is a peaceful and charming area to reside in. The county boasts a rich history dating back to the early 1800s and is known for its strong sense of community and thriving economy. With an average home value of $381,638.46 and an average property tax of $2,989.47, Porter County offers a desirable real estate market for homeowners. Seniors in Porter County may find the option of a reverse mortgage appealing, allowing them to tap into their home equity to supplement their income in retirement. With an average interest rate of 0.0417, seniors can explore the benefits of a reverse mortgage as a financial tool to support their retirement lifestyle in this picturesque county.
Reverse Mortgage Loan Origination in Porter County
Reverse Mortgage Home Values in Porter County
Reverse Mortgage Interest Rates Porter County
There are approximately 170 active reverse mortgage loans in Porter County. The average interest rate in Porter County is 7.5% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Porter County was $290,625.00 in 2024.
Click here to get a Reverse Mortgage Quote in Porter 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.
Porter County, IN Facts – As of 2025 | |
Average property value (estimated) | $290,625.00 |
Average property taxes | $2,989.47 |
Average reverse mortgage interest rate | 7.5% |
Area median income | $91,900.00 |
Data Source: FFIEC HMDA Data
Jumbo Reverse Mortgage in Porter County, IN
With the average home value of $290,625.00, you may be wondering about the opportunities for jumbo loans.
HomeForLife | HECM | |
Traditional Reverse Mortgage | Yes | Yes |
Refinance Existing Reverse Mortgage with Another (HECM to HECM) |
Yes | Yes |
Purchase a Home with a Reverse Mortgage (HECM for Purchase) |
Yes | Yes |
Minimum Age for Eligibility in IN | 55 | 62 |
Get Your Quote → | Get Your Quote → |
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 Porter 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 Porter 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 »