In 2024, there were 30 active reverse mortgage loans in Armstrong County, Pennsylvania. The average home value in Armstrong County is $280,403.70.

Click here to get a reverse Mortgage Quote in Armstrong County, Pennsylvania

To avoid scams, make sure you are working with a licensed lender in Pennsylvania. South River Mortgage is a fully licensed lender in Pennsylvania. The PA 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 in PA, and our state license identifier is 94894.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Armstrong County

Armstrong County, Pennsylvania, situated in the western part of the state, is home to a diverse population of around 67,607 residents. The county encompasses a rich history, known for its significant role in the industrial development of the region, particularly in the coal and steel industries. With a moderate climate characterized by warm summers and cold winters, Armstrong County offers residents a beautiful mix of rural landscapes and small-town charm. For seniors looking to make the most of their home equity in Armstrong County, exploring reverse mortgages could be a beneficial option. With an average home value of $280,403.70 and an average property tax of $3,980.42, tapping into the equity through a reverse mortgage can provide financial flexibility for retirees. Leveraging the county’s average interest rate of 4.76%, seniors can potentially access funds while continuing to live in and enjoy their homes in Armstrong County.

Reverse Mortgage Loan Origination in Armstrong County

Reverse Mortgage Home Values in Armstrong County

Reverse Mortgage Interest Rates Armstrong County

There are approximately 30 active reverse mortgage loans in Armstrong County. The average interest rate in Armstrong County is 8.18% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Armstrong County was $152,500.00 in 2024.

Click here to get a Reverse Mortgage Quote in Armstrong County, Pennsylvania »

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 Armstrong County, PA

With the average home value of $152,500.00, 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 Armstrong 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 Armstrong County

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