In 2024, there were 211 active reverse mortgage loans in Okaloosa County, Florida. The average home value in Okaloosa County is $456,613.01.

Click here to get a reverse Mortgage Quote in Okaloosa County, Florida

To avoid scams, make sure you are working with a licensed lender in Florida. South River Mortgage is a fully licensed lender in Florida. The FL 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 FL, and our state license identifier is MLD2179.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Okaloosa County

Okaloosa County is located in the state of Florida and is known for its beautiful beaches along the Emerald Coast. The county has a population of approximately 206,152 residents and enjoys a mild climate with hot summers and mild winters, making it a popular destination for tourists and retirees alike. Okaloosa County is also home to Eglin Air Force Base, one of the largest military installations in the country, as well as the vibrant city of Fort Walton Beach. The average home value in Okaloosa County is $456,613.0142, with an average property tax of $2,297.793398 and an average interest rate of 0.04428530806. For seniors looking to tap into their home equity, Okaloosa County offers opportunities for reverse mortgages which can provide a source of income for those aged 62 and older. This financial option allows seniors to convert a portion of their home equity into cash without having to sell their home, offering financial flexibility and security in retirement.

Reverse Mortgage Loan Origination in Okaloosa County

Reverse Mortgage Home Values in Okaloosa County

Reverse Mortgage Interest Rates Okaloosa County

There are approximately 211 active reverse mortgage loans in Okaloosa County. The average interest rate in Okaloosa County is 7.5% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Okaloosa County was $418,846.15 in 2024.

Click here to get a Reverse Mortgage Quote in Okaloosa County, Florida »

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 Okaloosa County, FL

With the average home value of $418,846.15, 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 Okaloosa 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 Okaloosa County

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