In 2024, there were 1 active reverse mortgage loans in Grant County, New Mexico. The average home value in Grant County is $350,442.00.

Click here to get a reverse Mortgage Quote in Grant County, New Mexico

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

Reverse Mortgage Loans in Grant County

Grant County, located in New Mexico, is a vibrant area known for its stunning natural beauty and rich history. While the population is not specified, Grant County is renowned for its picturesque landscapes, including mountains, forests, and rivers, making it a haven for outdoor enthusiasts. The county also boasts a diverse range of activities such as hiking, camping, and fishing, attracting visitors and residents alike. Historically, Grant County played a significant role in the mining industry during the late 19th and early 20th centuries, particularly in the copper mining sector. This legacy is evident in the county’s cultural heritage and architecture, providing a fascinating glimpse into its past. For seniors looking to tap into their home equity, Grant County’s average home value of $350,442.0, combined with a property tax rate of $1,280.56 on average and an interest rate of 0.0401, could make it an ideal location to consider a reverse mortgage as a financial option to support retirement plans.

Reverse Mortgage Loan Origination in Grant County

Reverse Mortgage Home Values in Grant County

Reverse Mortgage Interest Rates Grant County

There are approximately 1 active reverse mortgage loans in Grant County. The average interest rate in Grant County is 7.45% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Grant County was $400,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Grant County, New Mexico »

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 Grant County, NM

With the average home value of $400,000.00, 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 Grant 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 Grant County

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