In 2024, there were 87 active reverse mortgage loans in Madison County, Indiana. The average home value in Madison County is $231,335.95.

Click here to get a reverse Mortgage Quote in Madison County, Indiana

To avoid scams, make sure you are working with a licensed lender in Indiana. South River Mortgage is a fully licensed lender in Indiana. The IN state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Department of Financial Institutions, Mortgage Lending License in IN, and our state license identifier is 62995.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Madison County

Madison County, located in the state of Indiana, is home to a vibrant community with a population of approximately 129,641 residents. This county is known for its rich history, including its significant role in the development of the state’s agricultural and industrial sectors. Madison County boasts a diverse economy with a mix of manufacturing, healthcare, and education sectors contributing to its growth and vitality. Additionally, the county’s pleasant climate with warm summers and cool winters makes it an attractive area for residents of all ages. For seniors looking to tap into their home equity, Madison County provides a favorable environment for considering a reverse mortgage. With an average home value of $231,335.954, seniors can leverage their home equity to supplement their retirement income. The average property tax of $1352.06988 and low interest rates, averaging at 0.0454183908, further enhance the feasibility of utilizing a reverse mortgage as a financial tool for seniors in Madison County.

Reverse Mortgage Loan Origination in Madison County

Reverse Mortgage Home Values in Madison County

Reverse Mortgage Interest Rates Madison County

There are approximately 87 active reverse mortgage loans in Madison County. The average interest rate in Madison County is 7.51% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Madison County was $285,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Madison County, Indiana »

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 Madison County, IN

With the average home value of $285,000.00, 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 Madison 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 Madison County

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