In 2024, there were 132 active reverse mortgage loans in Bannock County, Idaho. The average home value in Bannock County is $369,018.55.

Click here to get a reverse Mortgage Quote in Bannock County, Idaho

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

Reverse Mortgage Loans in Bannock County

Bannock County is located in the state of Idaho and is home to a population of around 87,808 residents. Known for its diverse outdoor recreational opportunities, Bannock County offers stunning natural landscapes such as mountains, rivers, and hiking trails. The county has a rich history, with key historical sites such as the Fort Hall Indian Reservation, which was established in 1867. The average home value in Bannock County is $369,018.553, with an average property tax of $1,526.658485 and an average interest rate of 0.04571603052999999. For seniors looking to tap into the equity of their homes, a reverse mortgage may be a beneficial option in Bannock County. By using the equity in their homes, seniors can supplement their income and enhance their financial security in retirement.

Reverse Mortgage Loan Origination in Bannock County

Reverse Mortgage Home Values in Bannock County

Reverse Mortgage Interest Rates Bannock County

There are approximately 132 active reverse mortgage loans in Bannock County. The average interest rate in Bannock County is 7.46% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Bannock County was $401,666.67 in 2024.

Click here to get a Reverse Mortgage Quote in Bannock County, Idaho »

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 Bannock County, ID

With the average home value of $401,666.67, 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 Bannock 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 Bannock County

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