In 2024, there were 13 active reverse mortgage loans in Benewah County, Idaho. The average home value in Benewah County is $463,565.23.

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

Benewah County is located in the state of Idaho, with a population of approximately 9,024 residents. The county is known for its stunning natural beauty, with abundant outdoor recreation opportunities including hiking, fishing, and hunting. The area also boasts a rich history, with attractions such as the historic town of St. Maries and the beautiful St. Joe River. The average home value in Benewah County is $463,565.23, with an average property tax of $977.31. For seniors looking to tap into their home equity, Benewah County’s average interest rate of 0.046% makes it an attractive option for considering a reverse mortgage. This financial tool can provide older homeowners with additional income or resources to cover expenses in retirement, allowing them to stay in their homes while leveraging their property’s value.

Reverse Mortgage Loan Origination in Benewah County

Reverse Mortgage Home Values in Benewah County

Reverse Mortgage Interest Rates Benewah County

There are approximately 13 active reverse mortgage loans in Benewah County. The average interest rate in Benewah County is 7.11% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Benewah County was $435,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Benewah 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 Benewah County, ID

With the average home value of $435,000.00, 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 Benewah 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 Benewah 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 »