Florida's Best Reverse Mortgage Company

Homes eligible for a reverse mortgage include single-family homes, detached homes, townhouses, and two-to-four unit properties. Condos must be FHA-approved or eligible for Single Unit Approval. Additionally, manufactured homes are eligible but must meet FHA guidelines.

A Reverse Mortgage loan lasts for the rest of your life so long as you uphold your obligation to pay taxes and insurance, keep the home in good repair, and live in the home as your primary residence you can never "outlive" your reverse mortgage.

We sure do! A Reverse Line of Credit is "irrevocable", meaning it cannot be closed or withdrawn, unlike most forward equity lines of credit. A HECM line of credit also grows over time, making it an excellent choice for those interested in financial flexibility for their retirement.

After paying off any existing mortgage, the money you receive from your reverse mortgage loan can be used any way you choose; paying for medical expenses (including in-home care), home improvements, living expenses, vacation, helping loved ones...there really are no limitations or restrictions, once you receive the net proceeds.

You will still own your home and you can stay in it for as long as you wish, as long as you continue to occupy your home as your primary residence, pay your property taxes, insurance, and any HOA fees, and maintain the home according to FHA requirements.

If you currently have a mortgage, that’s okay! A portion of the funds you receive from your reverse mortgage loan will be used to pay off any existing mortgage you have on the property at closing. This is a great tool for seniors looking to ELIMINATE a current monthly mortgage payment!

No, a reverse mortgage does not have a monthly mortgage payment. You can always make payments or pay down the principal balance, but it is not required. However, you must continue to pay their property taxes, homeowners insurance, any HOA fees, and maintain the property.

No, you do not need great credit to qualify for a reverse mortgage. Generally, reverse mortgages are not credit qualifying loans, although if certain credit issues are present, a LESA (Life Expectancy Set Aside) may be required.

Generally speaking, at least one borrower must be at least 62, although new programs recently released have allowed for a borrower to be as young as 60.

Yes, you sure can. A reverse mortgage refinance (HECM to HECM refinance) is where a previous reverse mortgage is paid off and a new reverse mortgage takes its place. This is a valuable tool when home values rise dramatically giving the homeowner access to additional equity, there is a need to change the interest rate, or the homeowner would like to add another person to the mortgage such as a new spouse or qualifying family member.

Several factors come into play: the youngest borrower's birthday, the value of the home, current interest rates, the particular program, and principle limit percentages.