In 2024, there were 1244 active reverse mortgage loans in District of Columbia, . The average home value in District of Columbia is $701,279.50.

Click here to get a reverse Mortgage Quote in District of Columbia,

To avoid scams, make sure you are working with a licensed lender in . South River Mortgage is a fully licensed lender in . The DC state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Mortgage Dual Authority License in DC, and our state license identifier is MLB1854525.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in District of Columbia

The District of Columbia, more commonly known as Washington, D.C., is not a county but a federal district located in the United States. It serves as the capital of the country and is home to the federal government, including the White House, Congress, and various monuments and museums. With a population of approximately 700,000 residents, the district experiences a humid subtropical climate with hot and humid summers and mild winters. Washington, D.C. is known for its rich history and cultural significance, with landmarks such as the Lincoln Memorial, Washington Monument, and Smithsonian Institution attracting visitors from around the world. The average home value in the district is $701,279.496, with an average property tax of $2,737.307733 and an average interest rate of 0.05122829582. For seniors looking to tap into their home equity, reverse mortgages can be a financial tool worth exploring, allowing homeowners aged 62 and older to convert a portion of their home’s value into cash without the need for monthly mortgage payments.

Reverse Mortgage Loan Origination in District of Columbia

Reverse Mortgage Home Values in District of Columbia

Reverse Mortgage Interest Rates District of Columbia

There are approximately 1244 active reverse mortgage loans in District of Columbia. The average interest rate in District of Columbia is 7.66% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in District of Columbia was $942,111.11 in 2024.

Click here to get a Reverse Mortgage Quote in District of Columbia, »

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 District of Columbia, DC

With the average home value of $942,111.11, 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 District of Columbia

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 District of Columbia

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