In 2024, there were 63 active reverse mortgage loans in Madison County, Tennessee. The average home value in Madison County is $260,795.75.

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

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

Reverse Mortgage Loans in Madison County

Madison County, located in the state of Tennessee, boasts a population of around 97,200 residents. Known for its picturesque landscapes and small-town charm, the county offers a blend of rural beauty and modern conveniences. Historically, Madison County is renowned for its contributions to the Civil Rights Movement, being the birthplace of renowned African American activist, Ida B. Wells. The county also holds significance as the location of the iconic Casey Jones Village, a popular tourist destination celebrating the legendary railroad engineer. For seniors looking to enhance their financial security in retirement, Madison County offers opportunities for reverse mortgages. With an average home value of $260,795.746, seniors can leverage their home equity to supplement their income through a reverse mortgage. By tapping into their property value, seniors can access funds while still owning and residing in their homes, providing a sustainable financial option for those looking to maintain their quality of life 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 63 active reverse mortgage loans in Madison County. The average interest rate in Madison County is 7.49% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Madison County was $253,888.89 in 2024.

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

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, TN

With the average home value of $253,888.89, 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}, TN. 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 »