In 2024, there were 15 active reverse mortgage loans in Howard County, Texas. The average home value in Howard County is $129,164.20.

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

Located in the state of Texas, Howard County is known for its rich history, diverse culture, and vibrant community. With a population of around 36,000 residents, this county boasts a pleasant climate with warm summers and mild winters. Howard County is renowned for its strong agricultural roots, particularly in cotton farming, as well as its thriving oil and gas industry. One interesting historical note about Howard County is that it was named after Oliver Otis Howard, a Union Army general during the American Civil War. As home values in Howard County average around $129,164.2 and property taxes are approximately $2,297.486, seniors looking to supplement their income in retirement may consider exploring reverse mortgages. With an average interest rate of 0.03779285714, reverse mortgages can provide homeowners with the opportunity to access the equity in their homes and enhance their financial stability in their golden years.

Reverse Mortgage Loan Origination in Howard County

Reverse Mortgage Home Values in Howard County

Reverse Mortgage Interest Rates Howard County

There are approximately 15 active reverse mortgage loans in Howard County. The average interest rate in Howard County is 7.17% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Howard County was $115,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Howard 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 Howard County, TX

With the average home value of $115,000.00, 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 Howard 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 Howard 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 »