In 2024, there were 80 active reverse mortgage loans in Richland County, Ohio. The average home value in Richland County is $212,736.10.

Click here to get a reverse Mortgage Quote in Richland County, Ohio

To avoid scams, make sure you are working with a licensed lender in Ohio. South River Mortgage is a fully licensed lender in Ohio. The OH state regulator requires mortgage lenders to be explicitly approved to make loans and hold a license. South River Mortgage proudly holds the Residential Mortgage Lending Act Certificate of Registration in OH, and our state license identifier is RM.804642.001.  We also maintain active approval with HUD/FHA.

Reverse Mortgage Loans in Richland County

Located in the state of Ohio, Richland County is known for its scenic landscapes, charming small towns, and rich historical heritage. With a population of approximately 121,477 residents, the county enjoys a temperate climate with distinct seasons, making it an ideal place to call home. Richland County is renowned for its outdoor recreational opportunities, including hiking in Mohican State Park, boating on Pleasant Hill Lake, and exploring the historic Malabar Farm State Park. Richland County has a diverse history, including being the birthplace of John Chapman, better known as Johnny Appleseed, who spread apple trees throughout the region in the early 19th century. For seniors looking to tap into their home equity, Richland County offers the option of reverse mortgages. With an average home value of $212,736.1, an average property tax rate of 2,346.0365, and an average interest rate of 4.0605%, seniors in Richland County may consider utilizing a reverse mortgage as a financial tool to access their home equity and supplement their retirement income.

Reverse Mortgage Loan Origination in Richland County

Reverse Mortgage Home Values in Richland County

Reverse Mortgage Interest Rates Richland County

There are approximately 80 active reverse mortgage loans in Richland County. The average interest rate in Richland County is 7.4% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Richland County was $180,000.00 in 2024.

Click here to get a Reverse Mortgage Quote in Richland County, Ohio »

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 Richland County, OH

With the average home value of $180,000.00, 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 Richland 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 Richland County

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