Florida Reverse Mortgages

At All Reverse Mortgage, Inc. (ARLO™), we’re proud to be Florida’s #1 Rated Reverse Mortgage Lender, with more than 20 years of dedicated experience helping homeowners make informed decisions about their home equity. Our focus on clear guidance, competitive terms, and respectful service has earned us an A+ rating from the Better Business Bureau and consistent 5-star customer reviews.

Since 2004, our mission has been simple: give Florida homeowners peace of mind through responsible, federally compliant reverse mortgage solutions. As a HUD-approved lender, we offer both HECM & Jumbo Reverse Mortgages, allowing us to help homeowners across a wide range of home values and financial goals.

Whether you’re looking to eliminate an existing mortgage payment, access equity for retirement planning, or create more financial flexibility while staying in your home, we’re here to guide you every step of the way with clarity and care.

Florida reverse mortgage statistics showing 4.3 million homeowners age 62 and older, 2,634 reverse mortgages closed in the last 12 months, 72 active lenders, and an average Florida home value of $412,100.

Latest 2026 Reverse Mortgage Statistics for Florida

StateHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsLenders in FloridaAvg. Home Value
Florida4.3 Million2,63472$412,100

How this data was derived: Reverse mortgage counts reflect FHA-insured HECM loans endorsed over a rolling 12-month period (Dec 2024–Nov 2025) using HUD HECM Snapshot data. Active lenders represent unique FHA sponsor numbers with at least one endorsed loan during this period. Estimated homeowners age 62+ are based on U.S. Census ACS 5-year owner-occupied households age 65+ as a conservative proxy. Home values are sourced from Zillow’s Home Value Index (latest available).

Florida Reverse Mortgage Lending Limits

Florida, known as the Sunshine State, is home to 22 million people, with nearly 4.3 million homeowners aged 62 and older. This means over one-and-a-half million Florida residents may be eligible for a reverse mortgage, offering a valuable way to access their home’s equity.

As of January 2026, the average home value in Florida is $412,100, well below the HECM reverse mortgage lending limit of $1,249,125. This makes reverse mortgages a viable option for many homeowners throughout the state.

Florida’s rich history began with Spanish explorer Juan Ponce de León in 1513, and it has since grown into the most populous state in the American Southeast. Known for its warm climate, beautiful beaches, and vibrant tourist destinations, Florida has become a top choice for retirees. Communities such as The Villages, Boynton Beach, and Naples have attracted nearly 2 million senior homeowners aged 62 and older, all of whom enjoy the state’s pleasant weather and abundant activities.

Florida’s economy thrives on tourism, agriculture, and transportation, with world-famous attractions like Walt Disney World and Kennedy Space Center contributing to its robust growth.

If you’re a homeowner aged 62 or older living in Florida, All Reverse Mortgage, Inc. (ARLO™) is here to help you explore how a reverse mortgage can fit into your retirement plans. We’re ready to answer your questions and guide you through the process.


Top Reverse Mortgage Cities in Florida

CityHomeowners Age 62+Reverse Mortgages Closed Last 12 MonthsActive LendersAvg. Home Value
Bradenton207$403,118
Boca Raton258$612,804
Boynton Beach227$429,662
Cape Coral4210$381,978
Fort Lauderdale339$515,328
Fort Myers197$375,811
Hialeah84$411,224
Jacksonville8212$319,882
Miami419$512,944
Naples339$682,117
Ocala197$284,519
Orlando389$391,228
Palm Beach74$1,287,904
Palm Coast237$347,115
Port St. Lucie248$379,886
Sarasota4210$517,394
St. Petersburg4110$403,118
Tampa5911$371,447
The Villages4310$394,215

Top 20 Reverse Mortgage Lenders in Florida

LenderBBB RatingAccreditedYears in BusinessCustomer Rating (0–5)% Positive ReviewsComplaintsSource
All Reverse Mortgage, Inc. (ARLO)A+YES214.94/599.0%0Source
American Pacific MortgageFNO281.75/535.0%6Source
CrossCountry Mortgage, LLC.FYES221.43/529.0%303Source
Fairway Independent MortgageA+YES294.51/590.0%26Source
Finance of America Reverse LLC (FAR)A+YES223.71/574.0%36Source
Goodlife Home LoansA+YES13N/A (Not enough reviews)N/A (Not enough reviews)1Source
Guaranteed RateA+YES262.25/5450%45Source
Guild Mortgage Company LLCA+NO651.55/531.0%73Source
HighTechLending IncA+YES194.94/599.0%1Source
Liberty Home Equity Solutions Inc.A+NO221.00/520.0%1Source
Longbridge Financial LLCA+YES133.77/575.0%34Source
Luminate BankNRNO84NANANASource
MCM HoldingsA+YES27NANANASource
The Money HouseNRNO28NANA0Source
Movement Mortgage, LLCA+NO184.43/589.0%92Source
Mutual of Omaha MortgageA+YES123.31/566.0%65Source
New American FundingA+YES264.65/593.0%147Source
Plaza Home Mortgage IncA+YES242.67/553.0%6Source
Smartfi Home LoansA+YES6N/A (Not enough reviews)N/A (Not enough reviews)0Source
South River Mortgage, LLCA+NO63.79/576.0%14Source
Source: Data compiled from https://www.rminsight.net/hecm-lenders-september-2025/ RMInsight (Top 20 HECM Lenders, October 1, 2025 and Better Business Bureau reviews updated as of December 10, 2025)

Frequently Asked Questions: Florida-Specific Answers

Q.

How does Florida’s insurance crisis affect reverse mortgages?

Whenever you have a mortgage on your home, you are required to maintain adequate homeowners insurance to cover the structure in the event of damage or loss. After recent hurricanes, many insurers left Florida and unfortunately Floridians have seen significant rate increases across the board to insure their homes. Cost of insurance is a key part of homeownership, and failing to maintain adequate insurance of your home will cause your loan to be called due and payable. It is important that homeowners shop around to ensure they are getting the best deal possible to insure their home, and if the cost to insure their home is too significant, it may be time to consider downsizing to a more affordable home that will cost less to insure.
Q.

Do I need flood insurance?

Flood insurance is mandatory if your home is located in a FEMA-designated flood zone. The lender will have to obtain a Flood Cert to determine whether or not your property falls within the boundary of a flood zone. You as a homeowner can check by visiting FEMA’s website and searching their Flood Map Service Center. Even if your home is not in a flood zone, you are permitted to obtain flood insurance voluntarily, but a lender cannot force you to obtain flood insurance if you are not in a designated flood zone. Flood insurance policies are obtained through the National Flood Insurance Program (NFIP) and the maximum policy that can be obtained is $250,000 in coverage currently.
Q.

What about hurricane damage—am I covered?

A standard homeowners insurance policy usually includes coverage for wind damage but not always. In high-risk areas, wind coverage is usually mandatory to be included in the insurance policy and any mortgage lender is going to require that you have wind coverage. Usually you have a separate endorsement on your policy for wind coverage which includes things like tornadoes and hurricanes. Additionally, it is very common to have a higher deductible for wind damage versus fire damage. Any questions about your level of coverage or the cost of your deductible(s) should be directed to your insurance agent.
Q.

How does Florida’s homestead exemption work?

In the state of Florida, you can apply for a homestead exemption on your primary residence only up to an amount of $50,000 which lowers your taxable value of your home and caps the maximum annual assessment increase at 3%. The first $25,000 applies to all taxes and the second $25,000 applies to non-school taxes on values over $50,000. To apply for the homestead exemption you have to contact your county Tax Collector and provide them with whatever documentation is required. Obtaining a new loan or a reverse mortgage loan has no impact on your homestead exemption.
Q.

What is Save Our Homes and how does it help?

The Save Our Homes (SOH) amendment limits the annual increase in the assessed value of homesteaded property to 3% or the percentage change in the Consumer Price Index (CPI), whichever is lower. This means that if your homesteaded property increased in value by 10% in one year, the maximum assessment increase would be 3%. This protection continues even with a reverse mortgage, helping keep your property taxes predictable.
Q.

Can I get a reverse mortgage on a condo in Florida?

Yes it is possible to get a reverse mortgage on a condo in Florida. That being said, the HOA must be FHA-approved in order to obtain the most popular reverse mortgage loan which is the Home Equity Conversion Mortgage (HECM). The honest truth is that very few condominiums in the state of Florida are FHA approved. FHA has guidelines that are in place for approval that many Associations throughout the state of Florida have a difficult time meeting. Most common reasons include low cash reserves, higher delinquency rates, excessive litigation and lower occupancy rates. There are alternatives to the FHA product for condominiums that have different guidelines that can be considered as well.
Q.

What about property in The Villages?

The Villages is a large planned community designed for residents age 55 and older that spans across three different counties of Sumter, Marion and Lake. It consists of a wide variety of different types of homes and many of those homes are eligible for reverse mortgage loans. Reverse mortgages are very popular in The Villages as they allow residents to eliminate mortgage payments and enjoy all the community amenities and activities.
Q.

Can I use a reverse mortgage if I’m a snowbird?

Short answer is maybe depending on your definition of snowbird. If you spend the winter months in Florida and the majority of the time elsewhere, then the answer is no—you cannot do a reverse mortgage on your Florida home because it is not your primary residence. However, if you are a primary resident of Florida who only spends a few weeks or a couple months a year in another state, then you could be eligible for the reverse mortgage on your Florida home. When you have a reverse mortgage loan, the property must be your primary residence. Additionally, you cannot have an extended absence of more than 12 consecutive months for any reason and any consecutive absence of 60 days or more needs to be communicated with your loan servicer along with your plan you have in place to ensure that the home will be cared for during your temporary absence.
Q.

What if I want to become a Florida resident full-time?

If you are looking to relocate to the state of Florida from your current state, that is definitely something a reverse mortgage can be used to assist you with. You can utilize a HECM for Purchase loan as the financing instrument for your new home and many people have done just that. By utilizing the HECM for Purchase program, you can combine the proceeds of the sale of your current home along with the funds you qualify for from the reverse mortgage to buy your next home without any mandatory monthly mortgage payment. This is perfect for former snowbirds who want to become full-time Florida residents without the burden of mortgage payments.
Q.

How does no state income tax benefit me?

The state of Florida has no state income tax on personal income and that has been the case since 1924. It is one of only nine states currently without a state income tax. This means that no state income tax is imposed on wages, salaries, capital gains and interest. Additionally, they do not tax retirement income such as Social Security, pensions or IRA/401K withdrawals. When you combine tax-free reverse mortgage proceeds with Florida’s zero state income tax, you’re maximizing every retirement dollar.
Q.

Can I sell my Florida home if I have a reverse mortgage?

Yes. When you have a reverse mortgage you are still the owner of the property and therefore you can sell your home at any time. Additionally, reverse mortgage loans do not have any prepayment penalties so when you sell your home you simply pay off whatever is owed on the reverse mortgage and the remaining proceeds are yours just like how they would be if you were paying off a traditional mortgage.
Q.

What if hurricane damage makes my home uninhabitable?

If your home is damaged by a hurricane or other type of natural disaster, here’s what to do: (1) File insurance claim immediately—contact your insurance company as soon as possible. (2) Notify your lender/servicer by certified mail and keep a copy of the letter. (3) Document the damage—take pictures or videos before any repairs are completed. (4) Apply for FEMA assistance if it’s in a Presidentially-Declared Major Disaster Area (PDMDA). (5) Continue paying property charges—keep paying taxes, insurance & HOA fees (if any) during repairs. (6) Send written notice via certified mail that you plan to return when repairs are complete. (7) Stay in communication—keep your servicer updated on progress and provide your temporary forwarding address. Your servicer will work with you as long as every effort is being made to get the home repaired and you moved back in as soon as possible. HUD has guidelines in place to extend foreclosure timelines if the property was in a PDMDA.
Q.

Can my children inherit my Florida home?

Yes. Your children can inherit your home, but they must pay off the reverse mortgage loan. A reverse mortgage loan becomes due and payable on the passing of the last surviving borrower. Your children can pay off the loan with their own funds which include existing assets, life insurance proceeds, etc., by refinancing the loan and getting their own loan or by selling the property. In the event that the mortgage balance exceeds the current value of the home, your children can either walk away with no liability due to the non-recourse protection or they can pay off 95% of the current value in order to keep the home. Every state has different laws, procedures and timing when it comes to inheritance and any potential legal process that has to play out so it is wise to consult with an estate planning firm to ensure that all your affairs are in order to ensure as seamless a process as possible for your children.
Q.

What if home values drop after a hurricane?

Reverse mortgages are “non-recourse” loans, which means that you can never owe more than the value of your home at the time the loan reaches maturity. If your home value decreases after obtaining a reverse mortgage loan, that would have no impact on your loan’s standing as the future value of the home does not affect the available terms on your reverse mortgage loan. Your home’s future value only impacts the equity position you have in the property and the potential proceeds from the sale of the property should the property be sold in the future. Reverse mortgage loans remain in good standing regardless of home value so long as the borrower is living in the property as their primary residence, making on-time payment of property taxes, homeowners insurance, HOA dues (if any) and maintaining the overall upkeep of the property.

HUD-Approved Reverse Mortgage Counseling Agencies in Florida

NameAgency IDAddressPhoneWeb Site
CONSOLIDATED CREDIT SOLUTIONS, INC.848045701 W Sunrise Blvd, Plantation, Florida, 33313-6269(800) 435-2261consolidatedcredit.org
CONSUMER CREDIT AND BUDGET COUNSELING, DBA NATIONAL FOUNDATION FOR DEBT MANAGEMENT8155513921 Icot Blvd, Clearwater, Florida, 33760-3738(866) 395-5769nfdm.org
CREDIT CARD MGMT SVCS, INC DBA REVERSEMORTGAGEHELPER.ORG AND DEBTHELPER.COM812151325 N Congress Ave, West Palm Beach, Florida, 33401-2005(561) 472-8000reversemortgagehelper.org
CREDIT.ORG - JACKSONVILLE, FL BRANCH907564720 Salisbury Rd, Jacksonville, Florida, 32256-6101(904) 586-3157credit.org
DEBT MANAGEMENT CREDIT COUNSELING CORP901171330 SE 4th Ave Ste F, Fort Lauderdale, Florida, 33316-1958(866) 724-3328N/A
GREENPATH FINANCIAL WELLNESS90088121 S Orange Ave, Orlando, Florida, 32801-3221(813) 374-2251greenpath.com
H.E.L.P. COMMUNITY DEVELOPMENT CORP.8357063 E Kennedy Blvd, Eatonville, Florida, 32751-5345(407) 628-4832helpcdc.org
HOUSING FOUNDATION OF AMERICA844702400 N University Dr, Pembroke Pines, Florida, 33024-3629(954) 923-5001homeapproved.org
HOUSING FOUNDATION OF AMERICA90154381 N Krome Ave Ste 203, Homestead, Florida, 33030-6047(786) 842-3843homeapproved.org
HOUSING FOUNDATION OF AMERICA - LAKE WORTH FLORIDA903438461 Lake Worth Rd, Lake Worth, Florida, 33467-2474(561) 713-1457homeapproved.org
HOUSING FOUNDATION OF AMERICA, LAUDERHILL FLORIDA903421773 N State Road 7, Lauderhill, Florida, 33313-5005(954) 923-5001homeapproved.org
HOUSING PARTNERSHIP, INC.823062001 W Blue Heron Blvd, Riviera Beach, Florida, 33404-5003(561) 841-3500cp-housing.org
REAL ESTATE EDUCATION AND COMMUNITY HOUSING904221451 W Cypress Creek Road, FORT LAUDERDALE, Florida, 33309-1961(954) 546-0844 Ext: 3000reach4housing.org
URBAN LEAGUE OF PALM BEACH COUNTY, INC.803651700 N Australian Ave, West Palm Beach, Florida, 33407-5623(561) 833-1461ulpbc.org
The information presented in this table was obtained from the U.S. Department of Housing and Urban Development (HUD) at https://answers.hud.gov/housingcounseling as of January 23, 2026

Did you know? Florida does not mandate in-person counseling. Visit our counseling page for a list of phone-based counseling agencies, and you can conduct your required counseling from the comfort of your home.

Experience You Can Trust from a HUD-Approved Florida Reverse Mortgage Lender

At All Reverse Mortgage, Inc. (ARLO™), we’ve spent the past 20+ years helping Florida homeowners use their home equity wisely and with confidence. Since 2004, our focus has been simple: provide clear guidance, competitive terms, and a level of care that puts long-term peace of mind first. That commitment is reflected in our A+ rating from the Better Business Bureau and consistent 5-star customer reviews.

We are a HUD-approved direct lender, authorized to offer Home Equity Conversion Mortgages (HECMs), the only reverse mortgage insured by the Federal Housing Administration. HUD approval matters because it means your loan follows strict federal guidelines, includes built-in consumer protections, and cannot include hidden fees or penalties. Whether your goal is to pay off an existing mortgage, eliminate monthly payments, or access equity for retirement planning, we walk you through the process step by step.

Our experience also extends beyond traditional HECM loans. Members of our leadership team were part of the group that introduced the first fixed-rate jumbo reverse mortgage in 2008. That background allows us to help homeowners with higher-value properties evaluate both FHA-insured HECM options and proprietary jumbo programs when a federal lending limit may not be the best fit.

We take the time to explain how each option works, including the advantages and trade-offs, so you can make a decision that aligns with your financial goals. For many Florida homeowners age 62 and older, a reverse mortgage is not a last resort but a planning tool, one that can eliminate a required monthly mortgage payment, provide flexible access to equity, and support a more comfortable retirement.

All Reverse Mortgage, Inc. is licensed by the Florida Office of Financial Regulation. License or Registration Number MLD837.

Ready to Unlock Your Home’s Equity?

As Florida’s #1 Rated Reverse Mortgage Lender, All Reverse Mortgage, Inc. (ARLO™) is here to provide trusted guidance, real-time rates, and expert support to help you make informed decisions.

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As a fully licensed lender by the Florida Office of Financial Regulation (License #MLD874), we’re committed to helping you secure the retirement you deserve.

Get Your Reverse Mortgage Quote from Florida’s #1-Rated Reverse Mortgage Lender* or call (800) 565-1722 to speak with a licensed expert.

Other Areas of Interest in Florida

Bradenton Boca Raton Boynton Beach Cape Coral Fort Lauderdale Fort Myers Hialeah Jacksonville Miami Naples Ocala Orlando Palm Beach Palm Coast Port St. Lucie Sarasota St. Petersburg Tampa The Villages

Additional Resources:
Reversemortgage.org NRMLA Members in Florida
HUD.GOV Approved Lenders Search