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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

All Island Mortgage & Funding Corp.
888-660-3033
NRMLA #4702
American Liberty Mortgage Inc.
800-736-6725
NRMLA #17074
FirstBank Mortgage Partners
800-736-6725
NRMLA #18602
Circle Mortgage Corporation
800-576-1338
NRMLA #1156
Bank of England - Jacksonville FL
877-992-0022
NRMLA #19941
NOVA Home Loans
877-335-6682
NRMLA #12093
Florida Choice Mortgage Corp.
800-905-3056
NRMLA #4752
Advisors Mortgage Group, LLC
(800) 657-1080
NRMLA #18083
HighTechLending Inc.
877-773-2783
NRMLA #16448
American Advisors Group (AAG)
800-736-6725
NRMLA #5197

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