In 2024, there were 336 active reverse mortgage loans in Galveston County, Texas. The average home value in Galveston County is $377,936.10.

Click here to get a reverse Mortgage Quote in Galveston County, Texas

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

Reverse Mortgage Loans in Galveston County

Galveston County, located in the state of Texas, is a vibrant coastal region known for its rich history, beautiful beaches, and diverse communities. With a population of over 347,000 residents, the county enjoys a mild coastal climate perfect for outdoor activities and leisurely living. Galveston County is renowned for its historic Galveston Island, which boasts Victorian architecture, museums, and iconic seaside attractions. Home to the city of Galveston, the county has an average home value of $377,936.10 and an average property tax of $10,983.26. With an average interest rate of 4.08%, seniors in Galveston County may consider exploring the option of a reverse mortgage to access their home equity for financial flexibility in retirement. Reverse mortgages can provide older homeowners with a source of income while allowing them to remain in their homes. This financial tool can be especially beneficial for seniors looking to supplement their retirement income or cover unexpected expenses.

Reverse Mortgage Loan Origination in Galveston County

Reverse Mortgage Home Values in Galveston County

Reverse Mortgage Interest Rates Galveston County

There are approximately 336 active reverse mortgage loans in Galveston County. The average interest rate in Galveston County is 7.37% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Galveston County was $395,444.44 in 2024.

Click here to get a Reverse Mortgage Quote in Galveston County, Texas »

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 Galveston County, TX

With the average home value of $395,444.44, 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 Galveston 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 Galveston County

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