In 2024, there were 86 active reverse mortgage loans in Wood County, Texas. The average home value in Wood County is $332,082.66.

Click here to get a reverse Mortgage Quote in Wood County, Texas

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

Reverse Mortgage Loans in Wood County

Wood County is located in the state of Texas and is known for its picturesque landscapes and small-town charm. With a population of approximately 44,960 residents, the area enjoys a mild climate with hot summers and mild winters, making it an attractive place to live for those seeking a slower pace of life. The county is rich in history, with landmarks such as the Mineola Historical Museum and the Governor Hogg Shrine State Historic Site offering glimpses into the area’s past. For seniors looking to tap into their home equity, Wood County’s average home value of $332,082.66 can provide a solid foundation for a reverse mortgage. With an average property tax rate of $1,423.96 and an interest rate of 4.52%, seniors may find that a reverse mortgage can offer financial flexibility and security in their retirement years. By leveraging their home equity through a reverse mortgage, seniors in Wood County can access additional funds while retaining ownership of their property.

Reverse Mortgage Loan Origination in Wood County

Reverse Mortgage Home Values in Wood County

Reverse Mortgage Interest Rates Wood County

There are approximately 86 active reverse mortgage loans in Wood County. The average interest rate in Wood County is 7.56% for reverse mortgages. The average maximum claim amount (the lesser of the appraisal or lending limit), among reverse mortgage borrowers, in Wood County was $332,058.82 in 2024.

Click here to get a Reverse Mortgage Quote in Wood County, Texas »

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 Wood County, TX

With the average home value of $332,058.82, 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 Wood 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 Wood County

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