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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

Florida Choice Mortgage Corp.
800-905-3056
NRMLA #4752
PS Financial Services LLC
888-845-6630
NRMLA #20878
All Island Mortgage & Funding Corp.
888-660-3033
NRMLA #4702
Liberty Home Equity Solutions, Inc.
800-218-1415
NRMLA #5771
Homestead Funding Corp.
800-767-4787
NRMLA #18089
Atlantic Bay Mortgage Group, LLC
888-667-6281
NRMLA #2679
American Liberty Mortgage Inc.
800-736-6725
NRMLA #17074
Net Equity Financial, Inc.
800-516-0822 ext. 3543
NRMLA #4733
Urban Financial of America (UFA)
800-469-7383
NRMLA #3858
HighTechLending Inc.
877-773-2783
NRMLA #16448

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