In 2024, there were 96 active reverse mortgage loans in Trumbull County, Ohio. The average home value in Trumbull County is $208,433.15.

Click here to get a reverse Mortgage Quote in Trumbull 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 Trumbull County

Trumbull County, located in Ohio, is a vibrant area known for its rich history and scenic landscapes. With a population of approximately 201,981 residents, the county enjoys a diverse community and a moderate climate, making it a popular choice for families and retirees alike. Trumbull County is recognized for its historical significance, being home to landmarks such as the National McKinley Birthplace Memorial and the Kinsman House, reflecting its strong ties to the past. The county has an average home value of $208,433.15 and an average property tax of $2,531.50, making it an attractive location for homeowners. Seniors in Trumbull County may benefit from considering a reverse mortgage, leveraging their home equity to supplement retirement income. With an average interest rate of 4.28%, a reverse mortgage could provide financial flexibility and stability for seniors looking to age in place within the charming surroundings of Trumbull County.

Reverse Mortgage Loan Origination in Trumbull County

Reverse Mortgage Home Values in Trumbull County

Reverse Mortgage Interest Rates Trumbull County

There are approximately 96 active reverse mortgage loans in Trumbull County. The average interest rate in Trumbull County is 8.05% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Trumbull County was $166,428.57 in 2024.

Click here to get a Reverse Mortgage Quote in Trumbull 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 Trumbull County, OH

With the average home value of $166,428.57, 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 Trumbull 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 Trumbull 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 »