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Mark Schumacher

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Greenville Reverse Mortgages

Find the best deal on reverse mortgages in Greenville County, South Carolina.

Call Today: (864) 432-5600

...or follow the steps below for a free evaluation and quote.

Greenville County Reverse Mortgage Lenders

For over 100 years Mutual of Omaha has been a trusted brand name. In that tradition of trust Mutual of Omaha Mortgage offers reverse mortgages to qualified homeowners in Greenville County, South Carolina, and in 48 of 50 states.

Our team of originators has a team of experienced professionals who are familiar with the specific needs of homeowners in Greenville, Woodberry, Maudlin,and Powdersville. We can walk you through the questions you’re certain to have and the process should you decide to utilize your home’s value to create more cash flow in retirement.

How many of your neighbors have done a reverse mortgage? Here are some interesting facts about reverse mortgages and the housing market in Napa and other surrounding communities.

Median Home Value in 2020: $238,632
# of Active Reverse Mortgages: 861
New Reverse Mortgages the Past 12 Months: 60

Figures are for federally-insured reverse mortgages (Home Equity Conversion Mortgages - HECM) within a 10-mile radius.

In 2020 the median home value in Greenville was $238,632. The current maximum lending limit for FHA-insured reverse mortgages is $822,375 which means nearly all homes in Greenville and in the surrounding area should see most if not all of their full home value considered in the calculation of the potential maximum reverse mortgage loan benefit. Homes above $822,375 may choose to apply for a private jumbo reverse mortgage for higher-valued properties.

Greenville River Walk. Photo credit: Ernest Roy, Pixabay
Greenville River Walk. Photo credit: Ernest Roy, Pixabay

In general, reverse mortgages calculate the maximum available loan benefit (before fees, costs, and lien payoffs) for qualified borrowers based on the home’s appraised value, the age of the youngest borrower, or named non-borrowing spouse, and the current/starting effective interest rate.

Greenville South Carolina is located halfway between Atlanta, Georgia and Charlotte, North Carolina. The estimated population of Greenville in 2019 was 70,635 making it the sixth-largest city in the state. Greenville is also the county seat of Greenville County.

The lands upon which present-day Greenville sits were once forbidden to early American colonists. The Cherokee tribe used the area as their hunting grounds which excluded white settlers. That changed in 1754 with the arrival of Richard Pearis who established relations with the tribe and shortly after built a plantation along the Reedy River.

Saddlemaker and merchant Vardry McBee is considered the father of Greenville having donated the land for churches, a cotton mill, and Furman University. McBee arrived in 1816 purchasing the mansion of Lemuel Alston, where he lived until his death in 1864.

During the Civil War Greenville served as a refuge for fleeing Confederate soldiers and residents fleeing the conflict. In 1868 the town sent a bi-racial delegation to the state convention  to write a new constitution. In the early 20th century the city became a hub for several textile mills whose employees were laid off en masse in 1929 as the Great Depression began. Today Greenville is home to well known manufactures such as BMW, Michelin Tire, and 650+ manufacturers and 40 Fortune 500 companies.

Local Greenville attractions include the BMW Performance Driving School, Chimney Rock, the Blue Ridge Escarpment, Cedar Falls Park, and the Greenville Zoo.

Contact your Greenville County South Carolina reverse mortgage lender today.

Mark Schumacher and his team at Mutual of Omaha Mortgage are ready to answer any questions or concerns you may have about a reverse mortgage. It's important to get the facts first, discuss your unique goals and needs, and see how much you may be able to qualify for with a reverse mortgage.

Call Mark today at 864-432-5600 to learn more or complete the steps here to get your free quote.

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Mark Schumacher services the areas of Greenville, Overbrook, Parker, Berea, South Carolina.

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