In 2024, there were 631 active reverse mortgage loans in Cuyahoga County, Ohio. The average home value in Cuyahoga County is $247,079.88.

Click here to get a reverse Mortgage Quote in Cuyahoga County, Ohio

To avoid scams, make sure you are working with a licensed lender in Ohio. South River Mortgage is a fully licensed lender in Ohio. The OH state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Residential Mortgage Lending Act Certificate of Registration in OH, and our state license identifier is RM.804642.001.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Cuyahoga County

Cuyahoga County is located in the state of Ohio and is home to a diverse population. With a population of over 1.2 million residents, Cuyahoga County offers a blend of urban and suburban living. The county is known for its cultural attractions, including the Cleveland Museum of Art and the Rock and Roll Hall of Fame. Its rich history includes being the site of the historic Cuyahoga River, which famously caught fire in 1969, leading to increased environmental awareness and regulations. For seniors looking to tap into their home equity, Cuyahoga County offers opportunities for reverse mortgages. With an average home value of $247,079.88, seniors can potentially leverage their home’s equity through a reverse mortgage. This financial tool allows homeowners aged 62 and older to convert a portion of their home equity into cash, providing additional income or funds for retirement. With an average property tax of $4,461.56 and a low-interest rate environment of 4.07%, seniors in Cuyahoga County may find reverse mortgages to be a beneficial option for their financial planning.

Reverse Mortgage Loan Origination in Cuyahoga County

Reverse Mortgage Home Values in Cuyahoga County

Reverse Mortgage Interest Rates Cuyahoga County

There are approximately 631 active reverse mortgage loans in Cuyahoga County. The average interest rate in Cuyahoga County is 7.74% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Cuyahoga County was $257,786.89 in 2024.

Click here to get a Reverse Mortgage Quote in Cuyahoga County, Ohio »

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 Cuyahoga County, OH

With the average home value of $257,786.89, 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 Cuyahoga 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 Cuyahoga County

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