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Florida Reverse Mortgage Lenders

Florida is home to a good amount of retirees and seniors who enjoy warm climate almost year around. Residents of cities such as Miami, Orlando, Jacksonvile, all are eligible to take out a reverse mortgage. The money from the reverse mortgage can be used for any purpose. A reverse mortgage should be the last option for seniors who are in need of extra cash. Financial experts recommend considering downsizing into a smaller home or obtaining cash through a different means first before considering a reverse mortgage. Serving senior living communities such as The Villages, Boynton Beach, Lady Lake and Hialaeh.

Requirements

1st Financial Reverse Mortgages
800-720-7003
NRMLA #1352
Liberty Home Equity Solutions, Inc.
800-218-1415
NRMLA #5771
NOVA Home Loans
877-335-6682
NRMLA #12093
Bank of England - Jacksonville FL
877-992-0022
NRMLA #19941
All Reverse Mortgage Company
800-565-1722
NRMLA #4693
American Liberty Mortgage Inc.
800-736-6725
NRMLA #17074
Advisors Mortgage Group, LLC
(800) 657-1080
NRMLA #18083
1st Reverse Mortgage USA
888-452-3977
NRMLA #2530
Live Well Financial, Inc.
866-444-2095
NRMLA #3816
1st American Senior Funding
888-808-8486
NRMLA #6143

Most Loans By City in Florida

Below are the most popular cities in Florida with the number of HECM reverse home loans originated since 2017. As you can see, it is no surprise that Miami tops the list. Not too far behind are Port Saint Lucie, The Villages, Jacksonville and Orlando. The average initial principal limit varies from city to city. This amount depends on the age of the borrower, property value and equity in the property. For instance, in Port Saint Lucie, the average initial principal limit was $133,632 and in Sarasota, the average was $184,224 but over in Naples, the average initial principal amount was $218,246.


Source: U.S. Department of Housing and Urban Development