A reverse mortgage is a loan that allows Florida homeowners aged 62 and older to convert part of their home equity into tax-free cash. With no monthly mortgage payments required, the loan is repaid when the borrower moves, sells the home, or passes away. It’s a powerful way to access retirement income while staying in the home you love.
To qualify for a reverse mortgage in Florida, you must be 62 or older (some programs as young as 55), live in the home as your primary residence, and have significant home equity. The property must meet FHA guidelines, and you must be able to maintain property taxes, insurance, and upkeep. Many Florida seniors use reverse mortgages to boost financial flexibility in retirement.
The amount you can borrow with a reverse mortgage in Florida depends on your age, home value, current interest rates, and the specific reverse mortgage program. Generally, the older you are and the more equity you have, the more money you can access. We offer free personalized estimates to help you find out how much you could qualify for.
Yes, reverse mortgages are highly regulated by the federal government and insured by the FHA through the Home Equity Conversion Mortgage (HECM) program. In Florida, borrowers are also required to complete HUD-approved counseling to ensure they fully understand the process and benefits. We’re here to guide you every step of the way.
HAbsolutely! With a HECM for Purchase, Florida seniors can use a reverse mortgage to buy a new home—without taking on monthly mortgage payments. It’s a great option for downsizing, relocating closer to family, or upgrading to a retirement-friendly property.
Reverse mortgages offer Florida seniors tax-free income, no required monthly mortgage payments, and the ability to stay in their homes. You can use the funds for anything—from medical expenses to travel or home renovations. It’s a flexible retirement tool for homeowners aged 62 and older in the Sunshine State.
Yes, you remain the full owner of your home with a reverse mortgage in Florida. As long as you live in the home, pay property taxes and insurance, and keep it in good condition, the title stays in your name. The loan is only repaid when you move, sell, or pass away.
Yes, you remain the full owner of your home with a reverse mortgage in Florida. As long as you live in the home, pay property taxes and insurance, and keep it in good condition, the title stays in your name. The loan is only repaid when you move, sell, or pass away.
No, reverse mortgage proceeds are not considered income and are not taxable under federal or Florida tax law. They’re loan advances—just like any traditional mortgage—and can be used without affecting Social Security or Medicare benefits. It’s one reason many retirees in Florida turn to reverse mortgages for financial flexibility.
Most single-family homes, FHA-approved condos, and some manufactured homes in Florida are eligible for reverse mortgages. The property must be your primary residence and meet basic condition standards. We can help you determine if your home qualifies during a free consultation.
Getting started is simple. Contact our Florida-based reverse mortgage specialists for a free consultation, then complete a required HUD-approved counseling session. From there, we’ll walk you through the application, appraisal, and closing process—step by step.
When the homeowner passes away, the reverse mortgage becomes due. Heirs can choose to repay the loan and keep the home, or sell the property and keep any remaining equity. In Florida, reverse mortgages are non-recourse loans, meaning the estate will never owe more than the home’s value.
Yes, many Florida homeowners refinance their reverse mortgage to take advantage of better interest rates or access additional equity. This is known as a HECM-to-HECM refinance. We can help determine if refinancing is the right move for your retirement strategy.
The typical reverse mortgage process in Florida takes 30 to 45 days from start to finish. Timelines may vary depending on property appraisals, counseling, and documentation. We work to make the process as smooth and efficient as possible.
A jumbo reverse mortgage is a type of reverse mortgage designed for high-value homes that exceed the lending limits of traditional government-insured reverse mortgages (HECMs). Unlike HECMs, which are capped by FHA loan limits, jumbo reverse mortgages allow homeowners to access significantly more of their home equity—often up to several million dollars. They are ideal for seniors aged 62 or older who own luxury or higher-priced properties in Florida and want to maximize their retirement cash flow without monthly mortgage payments.
Reverse mortgages come with standard mortgage fees, including an origination fee, FHA mortgage insurance, appraisal, and third-party closing costs. Many of these fees can be financed into the loan, so there are typically no out-of-pocket expenses at closing.
Yes, you remain the owner of your home with a reverse mortgage. As long as you continue living in the home and meet your loan obligations—like paying property taxes, insurance, and maintaining the property—you keep full ownership.
A reverse mortgage allows homeowners in Florida aged 62 and older to access their home equity without selling the property or making monthly mortgage payments. The funds are tax-free and can be used for healthcare costs, daily expenses, home improvements, or any other need. It’s a flexible way to create financial security in retirement.
