In 2024, there were 13 active reverse mortgage loans in Van Wert County, Ohio. The average home value in Van Wert County is $236,213.85.

Click here to get a reverse Mortgage Quote in Van Wert 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 Van Wert County

Van Wert County is located in the state of Ohio and has a population of approximately 28,846 residents. Known for its rich agricultural heritage, Van Wert County boasts fertile farmland and hosts annual events such as the Van Wert County Fair which celebrates the county’s farming traditions. With a temperate climate characterized by warm summers and cold winters, the area offers a mix of outdoor recreational activities for residents and visitors alike. Historically, Van Wert County played a significant role during the Civil War as it was a stop on the Underground Railroad, assisting escaped slaves on their journey to freedom. Today, the county is home to a vibrant community that values its past while looking towards the future. For seniors in Van Wert County considering financial options such as a reverse mortgage, the average home value of $236,213.85, property tax rate of $1,687.58, and average interest rate of 4.05% are important factors to consider when exploring this financial tool to unlock home equity.

Reverse Mortgage Loan Origination in Van Wert County

Reverse Mortgage Home Values in Van Wert County

Reverse Mortgage Interest Rates Van Wert County

There are approximately 13 active reverse mortgage loans in Van Wert County. The average interest rate in Van Wert County is 7.08% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Van Wert County was $160,000.00 in 2024.

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

With the average home value of $160,000.00, 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 Van Wert 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 Van Wert 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 »