In 2024, there were 176 active reverse mortgage loans in Lackawanna County, Pennsylvania. The average home value in Lackawanna County is $250,190.02.

Click here to get a reverse Mortgage Quote in Lackawanna County, Pennsylvania

To avoid scams, make sure you are working with a licensed lender in Pennsylvania. South River Mortgage is a fully licensed lender in Pennsylvania. The PA state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Mortgage Lender License in PA, and our state license identifier is 94894.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Lackawanna County

Located in the northeastern region of Pennsylvania, Lackawanna County is home to a diverse population known for its strong sense of community and rich history. With an average home value of $250,190.02, residents in Lackawanna County enjoy a mix of urban and rural living, along with easy access to amenities and recreational opportunities. The average property tax in the county is $3,547.30, while the average interest rate is 0.0396. Lackawanna County is known for its historical significance, particularly in the coal mining industry, which played a significant role in the county’s development. Today, the area is a vibrant community with a mix of historic architecture, cultural attractions, and outdoor recreation options. For seniors looking to tap into their home equity, reverse mortgages can be a viable option in Lackawanna County, providing financial flexibility and stability in retirement.

Reverse Mortgage Loan Origination in Lackawanna County

Reverse Mortgage Home Values in Lackawanna County

Reverse Mortgage Interest Rates Lackawanna County

There are approximately 176 active reverse mortgage loans in Lackawanna County. The average interest rate in Lackawanna 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 Lackawanna County was $225,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Lackawanna County, Pennsylvania »

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 Lackawanna County, PA

With the average home value of $225,000.00, 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 Lackawanna 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 Lackawanna County

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