In 2024, there were 59 active reverse mortgage loans in Carter County, Tennessee. The average home value in Carter County is $249,087.02.

Click here to get a reverse Mortgage Quote in Carter County, Tennessee

To avoid scams, make sure you are working with a licensed lender in Tennessee. South River Mortgage is a fully licensed lender in Tennessee. The TN state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Mortgage License in TN, and our state license identifier is 1854525.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Carter County

Carter County, located in the state of Tennessee, is home to a population of approximately 56,391 residents. The county boasts a mild climate with average temperatures ranging from the 30s in winter to the 80s in summer. Carter County is known for its picturesque landscapes, including the stunning Appalachian Mountains and the peaceful waters of Watauga Lake, making it a popular destination for outdoor enthusiasts and nature lovers. With a rich history dating back to the early 18th century, Carter County played a significant role in the development of the region. The county is home to various historical sites such as the Sabine Hill, an elegant mansion built in the early 19th century. Seniors in Carter County may find reverse mortgages to be a suitable financial option, especially with the average home value of $249,087.0169. By leveraging their home equity, seniors can supplement their retirement income and cover expenses while staying in their beloved homes. With an average property tax rate of 0.7853050847 and an interest rate of 0.041284482760000005, reverse mortgages in Carter County can offer financial flexibility and security for older homeowners.

Reverse Mortgage Loan Origination in Carter County

Reverse Mortgage Home Values in Carter County

Reverse Mortgage Interest Rates Carter County

There are approximately 59 active reverse mortgage loans in Carter County. The average interest rate in Carter County is 7.28% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Carter County was $220,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Carter County, Tennessee »

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 Carter County, TN

With the average home value of $220,000.00, 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 Carter 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 Carter County

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