In 2024, there were 191 active reverse mortgage loans in Cumberland County, Pennsylvania. The average home value in Cumberland County is $369,411.53.

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

Cumberland County, located in the state of Pennsylvania, is home to a thriving population of approximately 253,370 residents. The county boasts a picturesque landscape with a temperate climate, making it an attractive place to live for those who enjoy all four seasons. Cumberland County is known for its rich history, being one of the original counties created in Pennsylvania dating back to 1750. The area is famous for its diverse cultural heritage, outdoor recreation opportunities, and vibrant community events. The average home value in Cumberland County is $369,411.534, with an average property tax of $4,053.601518 and an average interest rate of 0.042793717280000004. For seniors looking to tap into the equity of their homes, Cumberland County offers opportunities for reverse mortgages. This financial tool allows seniors to convert a portion of their home equity into cash, providing additional income and financial flexibility in retirement. With its favorable property values and stable real estate market, Cumberland County presents a promising option for seniors considering a reverse mortgage as part of their retirement planning strategy.

Reverse Mortgage Loan Origination in Cumberland County

Reverse Mortgage Home Values in Cumberland County

Reverse Mortgage Interest Rates Cumberland County

There are approximately 191 active reverse mortgage loans in Cumberland County. The average interest rate in Cumberland County is 7.06% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Cumberland County was $340,882.35 in 2024.

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

With the average home value of $340,882.35, 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 Cumberland 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 Cumberland 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 »