Serving Mississippi Homeowners Since 2004

Reverse Mortgages in Mississippi: A Comprehensive Guide

If you’re a Mississippi homeowner aged 62 or older, a reverse mortgage could be a valuable tool to help you unlock the equity in your home and improve your financial security during retirement. In this guide, we’ll cover everything you need to know about reverse mortgages in Mississippi, including key facts, the latest statistics, top lenders, and essential protections.

How this data was derived: Reverse mortgage counts reflect FHA-insured HECM loans endorsed over a rolling 12-month period (Dec 2024–Nov 2025) using HUD HECM Snapshot data. Active lenders represent unique FHA sponsor numbers with at least one endorsed loan during this period. Estimated homeowners age 62+ are based on U.S. Census ACS 5-year owner-occupied households age 65+ as a conservative proxy. Home values are sourced from Zillow’s Home Value Index (latest available).

Top Reverse Mortgage Lenders in Mississippi

Mississippi Reverse Mortgage Lending Limits (2026 Update)

Mississippi is home to approximately 2.95 million residents, ranking 34th in population nationwide. An estimated 480,000 Mississippi homeowners are age 62 or older, creating a sizable audience eligible for reverse mortgage programs. With a homeownership rate of roughly 71%, Mississippi has one of the strongest concentrations of equity-rich older homeowners in the region.

Home Values and Reverse Mortgage Eligibility in Mississippi

The average home value in Mississippi is $268,200, well below the 2026 FHA Home Equity Conversion Mortgage (HECM) lending limit of $1,249,125. As a result, most Mississippi homes qualify comfortably under FHA guidelines, allowing eligible homeowners to access reverse mortgage proceeds while remaining in their homes.

For higher-value properties that exceed FHA limits, proprietary jumbo reverse mortgage programs are available, offering expanded borrowing options without monthly mortgage payments.

Mississippi Housing and Reverse Mortgage Snapshot (2026)

• Homeowners age 62+: 480,000
• Reverse mortgages closed (last 12 months): 85
• Active reverse mortgage lenders: 12
• Average home value: $268,200

These figures reflect a stable, underleveraged housing market, where reverse mortgages are most often used to eliminate existing mortgage payments, supplement retirement income, or establish a standby line of credit.

Economic and Housing Context

Mississippi’s economy is anchored by manufacturing, agriculture, healthcare, and automotive production, with major employers including Nissan North America, Sanderson Farms, and Sta-Home Health & Hospice. Home values have remained affordable relative to national averages, which keeps reverse mortgage eligibility high and borrowing costs more efficient for homeowners.

Reverse Mortgage Options for Mississippi Homeowners

Because Mississippi home values sit well below federal lending limits, HECM reverse mortgages are the most common and accessible option for homeowners 62 and older.

These FHA-insured loans include consumer protections such as:

• No required monthly mortgage payments
• Non-recourse protection (you or your heirs never owe more than the home’s value)
• The ability to sell, refinance, or repay the loan at any time

For homeowners with higher-value properties, jumbo reverse mortgages can provide additional borrowing capacity beyond FHA limits.

Did you know? Mississippi State does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies and conduct your required counseling from the comfort of your home.

Top Lender Resources in MS:
Reversemortgage.org NRMLA Members in Mississippi
HUD.GOV Approved Lenders Search