In 2024, there were 37 active reverse mortgage loans in Bedford County, Pennsylvania. The average home value in Bedford County is $284,498.86.

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

Bedford County, located in the state of Pennsylvania, is a picturesque region known for its rural charm and scenic beauty. While the exact population figures may vary, the area is renowned for its peaceful countryside and historic sites such as the Omni Bedford Springs Resort and the Fort Bedford Museum. With an average home value of $284,498.86 and an average property tax of $2,109.40, Bedford County offers affordable housing options in a tranquil setting. Additionally, the average interest rate of 0.0365 provides attractive financing opportunities for prospective homeowners in the area. For seniors looking to leverage their home equity, Bedford County presents an opportunity for considering reverse mortgages as a financial option. With the region’s stable property values and competitive interest rates, seniors can tap into the equity of their homes to supplement their retirement income or cover unforeseen expenses. Reverse mortgages offer a flexible solution for older homeowners in Bedford County to access funds without having to sell their homes, providing financial security in their later years.

Reverse Mortgage Loan Origination in Bedford County

Reverse Mortgage Home Values in Bedford County

Reverse Mortgage Interest Rates Bedford County

There are approximately 37 active reverse mortgage loans in Bedford County. The average interest rate in Bedford County is 7.93% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Bedford County was $115,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Bedford 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 Bedford County, PA

With the average home value of $115,000.00, 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 Bedford 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 Bedford 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 »