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Let’s find out how a reverse mortgage can work for you. Over 500,000 homeowners nationwide - and 100 in your area are already enjoying more financial security in retirement!

Your home’s value is key to unlocking your reverse mortgage funds. I’ll use it - along with your age and current rates - to estimate what you could receive. Don’t worry, this is just a starting point!
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Great! It looks like your home value estimate is about

I used an online estimate for this value, but you’re in control - tweak it if it’s off! (A HUD-approved appraisal will confirm everything later.) Adding your mortgage balance helps me show you how much extra cash you could free up by eliminating that payment.

Please provide your estimated home value

If you presently have an existing mortgage balance, I'll need to know the amount we are going to pay off to get rid of that mortgage payment!
(Our calculations use estimated property values provided by Estated.com. An independent HUD-approved appraiser must complete an appraisal to finalize your loan)
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The minimum qualifying age for a reverse mortgage is 55

You qualify at 55 or older, and your age determines your loan amount. Include your spouse’s age (even if under 55) since we base proceeds on the youngest partner - it’s all about maximizing your benefits!
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Reverse Mortgage Companies in Saint Petersburg, FL

Are you at least 62 years old and own a home in California? Are you looking for a way to capitalize on the equity in your home? You're certainly not alone. As Californians retire, many want to find ways to increase their cash flow, pay for home repairs, pay off debt, or meet other needs.

One option is a reverse mortgage, which lets you borrow funds against your home's equity

A reverse mortgage is a government-backed loan that allows eligible homeowners to access their home equity without needing to make monthly mortgage payments. But how do you find the best reverse mortgage companies in Saint Petersburg, FL when there are so many options on the table? If personalized service, clear communication, and knowledgeable agents are what you're seeking, look no further than All Reverse Mortgage - America's #1 rated reverse lender.

site-Author

About the Author, Michael G. Branson

Mike@allreverse.com

Michael G. Branson CEO, All Reverse Mortgage, Inc. and moderator of ARLO™ has 45 years of experience in the mortgage banking industry. He has devoted the past 20 years to reverse mortgages exclusively.

20 Years of Reverse Mortgage Broker Experience

When you want a top-quality steak in The Sunshine State, you don't pull up to a fast-food restaurant and expect to get a medium-rare filet. You go to the highest-rated fine dining Rococo Steak in Saint Petersburg, FL. Similarly, when you want to work with the top reverse mortgage company in California, you don't go to a brand-new establishment without any reviews. You call All Reverse Mortgage for a free quote.

All Reverse Mortgage

The All Reverse Mortgage Difference

All Reverse Mortgage is proud to be recognized as America's top HUD-approved reverse mortgage lender, consistently earning 4.99 out of 5 stars for our outstanding service. Our steadfast dedication to integrity and exceptional customer support has not only earned us an A+ Exemplary Rating from the Better Business Bureau (BBB) but also recognition as Torch Ethics Finalists in both 2021 and 2022.

Affordability Transparency

We Focus on Affordability and Transparency

At All Reverse Mortgage, we prioritize a straightforward and client-focused process. By working directly with you, we cut out the middlemen, allowing for greater savings and benefits. Instead of spending money on expensive celebrity endorsements, we put our emphasis on delivering quality service from exceptional reverse mortgage originators in Saint Petersburg, FL. This helps us ensure our reverse mortgage solutions remain affordable, accessible, and transparent. This approach reflects our dedication to offering reliable and cost-effective options for our senior clients.

Now that you're familiar with All Reverse Mortgage and why our customers leave us consistent rave reviews, let's take a closer look at reverse mortgages, the basic requirements to qualify, and how much money you can get from a reverse mortgage.

Reverse Mortgages 101

At All Reverse Mortgage, our agents get a lot of reverse mortgage questions every day. One of the most frequently asked questions we get is a basic one: What exactly is a reverse mortgage?

A reverse mortgage is a type of loan that lets you tap into the equity of your home. Reverse mortgage age requirements state that they're designed for homeowners over the age of 62. When you take out a reverse mortgage, the funds you receive first go toward paying off your existing mortgage, if applicable, and any leftover money can be used according to your needs.

Since the loan covers your existing mortgage, you won't have to make monthly mortgage payments anymore. However, it's important to note that you still need to pay your property taxes and homeowners insurance and keep up with home maintenance. The loan will come due only when you move out of the home, sell it, pass away, or fail to meet the obligations of the loan, which include maintaining the property and paying taxes and insurance.

The most popular type of reverse mortgage is the home equity conversion mortgage - or HECM - which is backed by the Federal Housing Administration (FHA). At All Reverse Mortgage, our reverse mortgage brokers in Saint Petersburg, FL also offer:

  • Jumbo Reverse Mortgages
  • Proprietary Reverse Mortgages
  • Purchase Reverse Mortgages
Jumbo Reverse Mortgages

Who is Eligible for a Reverse Mortgage?

Eligible-Reverse-Mortgage

If you're interested in reverse mortgages, you should know that you've got to be eligible for one before you're approved. Reverse mortgage requirements include:

Primary Home

If you want to take out a reverse mortgage loan on your current home, it must be your primary residence. That means you have to live there for most of the year.

Age Requirements

You cannot be a young student going to Eckerd College near Saint Petersburg, FL and expect to be approved for this type of mortgage. Reverse mortgage requirements state that you have to be 62 years of age or older to qualify for a reverse mortgage. This age requirement is one of the primary factors for HECM reverse mortgage approval.

Types of Approved Properties

Homes eligible for reverse mortgages include townhomes, buildings with 2-4 units, some condos, single-family homes, and some manufactured homes approved by the FHA.

Required Counseling Sessions

If you apply for a reverse mortgage you must complete a HUD-approved counseling session that covers reverse mortgages. This counseling session can take place over the phone or in person. It's a crucial step that helps you completely understand reverse mortgage implications.

Assessment of Your Finances

All applicants are required to complete a comprehensive financial assessment designed to scrutinize their financial stability and capacity to uphold essential financial obligations. This assessment can include timely payment of your property taxes, which are crucial for maintaining ownership rights, and homeowner's insurance premiums, which protect the property from potential risks and damages

Curious whether you meet basic reverse mortgage requirements? Contact our office today. One of our knowledgeable mortgage experts will work with you to find out.

How Much Money Can a Homeowner Get from a Reverse Mortgage?

Homeowner-Reverse-Mortgage

When looking into a reverse mortgage, an important question to consider is: how much can you actually borrow? This amount generally varies, falling between 36.3% to 71.9% of your home's value. Several factors play a role in determining this figure. These factors help ensure that your loan is customized to fit your unique circumstances.

Some of the factors that influence how much money you can borrow include:

The Reverse Mortgage Program You Choose

Depending on the program you choose, there will be different borrowing percentages to consider.

How Old You Are

Typically, older borrowers get a higher percentage of their home's value

Interest Rates

The market's current rates play a big part in figuring out how much money you can borrow.

All Reverse Mortgage Pro Tip

When you're working with reverse mortgage companies in Saint Petersburg, FL, ask them to tell you about loan limits on reverse mortgages. The lending limit for the 2025 HECM program is capped at $1,209,750. If you qualify for a jumbo loan program, that limit increases to $4M, depending on the value of your home and a few other factors.

How Do You Get a Personalized Loan Estimate?

To get a more precise estimate that suits your situation, think about using ARLO, an exclusive calculator for reverse mortgages. ARLO delivers up-to-date rates and eligibility details. Beyond simply being a calculator, ARLO offers individualized support to assist you in choosing the reverse mortgage option that aligns best with your financial goals.

Consider These Reverse Mortgage Pros and Cons

When utilized properly, a reverse mortgage - also referred to as a Home Equity Conversion Mortgage (HECM)-can provide additional security during your retirement. However, like any financial product, reverse mortgages may not be the right fit for everyone. Keep reading for more info on evaluating financial options, understanding potential risks and benefits, and making informed decisions about reverse mortgages.

Analyzing the Drawbacks of Reverse Mortgages

Let's take a closer look at some of the potential drawbacks you might have with reverse mortgages.

Initial Costs May Be Higher

Reverse mortgages, particularly the Home Equity Conversion Mortgage (HECM), usually cost more than traditional loans

One major expense is the FHA mortgage insurance, which includes a 2% upfront fee and a yearly 0.50% mortgage insurance premium (MIP). This insurance helps protect both borrowers and lenders from the risk of default. It ensures that borrowers or their heirs will not owe more than the home's value, even if the loan balance increases or property values drop.

These costs can be a significant burden for homeowners who are sensitive to closing costs. Lender credits might help reduce these expenses, but they have become less common due to interest rate hikes and inflation in 2022 and 2023.

Drawbacks-Reverse-Mortgage

All Reverse Mortgage Pro Tip

If you own a high-value property, consider a proprietary or jumbo reverse mortgage. These options do not require government insurance, which can save you the large upfront mortgage insurance costs. However, they often come with higher interest rates. Choosing a jumbo reverse mortgage could save you up to $24,195 in upfront mortgage insurance costs.

Scamming and Exploitation

In today's tech-heavy world, seniors often find themselves confused about how to use the internet and often blindly trust people who reach out to them online. This can result in seniors getting scammed and taken advantage of - especially when there are financial implications involved. One of the best ways to avoid this is by working with trustworthy, licensed reverse mortgage brokers in Saint Petersburg, FL. Seniors should also seek advice from trusted, independent financial advisors. That way, they're better protected against malicious actors who want to misuse their funds.

Tip-Reverse-Mortgage

Analyzing the Benefits of Reverse Mortgages

Now that we've looked at possible disadvantages, let's examine the benefits of reverse mortgages. Here are several advantages that can render a reverse mortgage a worthwhile choice for financial planning.

No More Monthly Mortgage Payments

Reverse mortgages remove the requirement for monthly mortgage payments for qualified borrowers. This enables seniors to remain in their homes for the duration of their lives without the stress of making regular mortgage payments. Although monthly mortgage payments are waived, borrowers must still handle financial obligations such as property maintenance. They must also continue paying for property taxes and insurance.

No Restrictions on Tax-Free Money

If you've wanted to visit Welcome to St Petersburg sign with the highest rating in Saint Petersburg, FL, but could never justify spending the money to do so, this may come as good news. Funds obtained from a reverse mortgage are not subject to taxes, making it a cost-effective method to tap into home equity. Homeowners have the option to receive their money in various ways, such as a single lump sum, a flexible line of credit, monthly disbursements, or a mix of these options. The versatility and tax-exempt status of these funds make reverse mortgages a valuable instrument for financial planning.

Financial Security for Life

A reverse mortgage line of credit provides the distinct advantage of lifelong security. HUD guarantees that money will always be accessible as long as there are remaining funds in your line of credit and you meet your loan responsibilities. This guarantee is a major benefit compared to conventional Home Equity Lines of Credit (HELOC), which financial institutions can freeze or cancel without warning.

Analyzing the Benefits

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The Reverse Mortgage Brokers in Saint Petersburg, FL. You Can Count On

Educating yourself and choosing the right reverse mortgage for your needs isn't always easy. Whether you're unsure if you qualify or you're having trouble choosing the right option, All Reverse Mortgage can help. We cut out the middlemen and apply those resources directly to our clients. That way, we can provide one-on-one, personalized assistance when you need it the most

If you're in search of an ethical, affordable, and reliable team of reverse mortgage originators, contact our office today. We'll be here to help provide you with the guidance and knowledge needed to make informed decisions about your financial future.

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St. Petersburg Housing Market Prices and Forecast 2025-2026

Are you thinking about buying or selling a home in St. Petersburg, Florida? You're probably wondering what's happening in the local real estate market. As of January 2025, the St. Petersburg housing market is somewhat competitive, with a median sale price of $398K, a 5.4% decrease compared to last year. Homes are selling in around 49 days, and there's been a significant increase in the number of homes sold. Let’s dive deeper into what these numbers mean and what to expect in the near future....

Are you thinking about buying or selling a home in St. Petersburg, Florida? You're probably wondering what's happening in the local real estate market. As of January 2025, the St. Petersburg housing market is somewhat competitive, with a median sale price of $398K, a 5.4% decrease compared to last year. Homes are selling in around 49 days, and there's been a significant increase in the number of homes sold. Let’s dive deeper into what these numbers mean and what to expect in the near future.

Current St. Petersburg Housing Market Trends and Forecast

One of the most significant shifts I've noticed is the uptick in home sales. According to Redfin, in January 2025, 358 homes were sold in St. Petersburg, which is a whopping 29.2% increase compared to the same time last year. This indicates that while prices might be adjusting, people are still actively buying in the area. Perhaps the slight dip in prices is enticing more buyers to jump in.

Let's talk about the numbers everyone is curious about: home prices. As I mentioned earlier, the median sale price in St. Petersburg was $398K in January 2025. This is down 5.4% from the previous year. Additionally, the median sale price per square foot is $310, a decrease of 7.9% since last year.

The data indicates a slight downward trend in home prices in St. Petersburg. While a 5.4% decrease might seem alarming, it's essential to consider the context. We're coming off a period of record-high prices and intense competition. It looks more like a market correction rather than a crash.

To put things in perspective, let's compare St. Petersburg's median home price to the national median price, which is $396,900 in January 2025, with a year-over-year change of +4.8%. St. Petersburg's median price is just slightly higher than the national median but trending down while the national median is increasing. This suggests St. Petersburg is experiencing a localized market adjustment.

Based on the data, St. Petersburg leans toward being a somewhat competitive market. Homes receive an average of two offers and sell in around 49 days. The average homes sell for about 5% below list price and go pending in around 41 days. However, I’d classify it as neither a strong buyer's nor a strong seller's market. Instead, it looks like we're moving towards a more balanced market, where neither buyers nor sellers have a distinct advantage. It is “somewhat competitive”.

To better understand the trends, let's look at the numbers:

Here's a summary table:

Metric January 2025 Year-over-Year Change
Median Sale Price $397,500 -5.4%
Number of Homes Sold 358 +29.2%
Median Days on Market 49 +9 days
Sale-to-List Price 94.7% -2.0 pts
Homes Sold Above List Price 7.5% -1.5 pts
Homes with Price Drops 38.5% -0.28 pts

High mortgage rates are a significant factor in the current St. Petersburg housing market. As of early March 2025, the average 30-year fixed mortgage rate is around 6.5%, and most forecasts predict it to remain at or slightly above this level.

St. Petersburg Housing Market Forecast

Based on the current trends, here's what I think is likely to happen in the St. Petersburg housing market in the coming months:

If you're a buyer in St. Petersburg, now might be a good time to start looking. With prices slightly down and more homes potentially coming on the market, you have more options and potentially more negotiating leverage. However, remember that mortgage rates are still relatively high, so factor that into your budget.

If you're a seller, it's essential to be realistic about pricing. Overpricing your home could lead to it sitting on the market for longer. Work with a local real estate agent who understands the market to develop a pricing strategy that attracts buyers.

The current St. Petersburg housing market is in a state of transition. While prices have come down a bit, and homes take longer to sell, the market is still active. Whether you're a buyer or a seller, understanding these trends is key to making informed decisions. Always consult with a qualified real estate professional to get personalized advice based on your specific situation.

Should You Invest in the St. Petersburg Real Estate Market?

St. Petersburg is currently experiencing population growth, positioning it as one of the fastest-growing cities in the United States. This surge in population contributes significantly to the demand for housing, creating a favorable environment for real estate investment.

The rental property market in St. Petersburg is substantial, presenting a lucrative opportunity for investors:

Considering the city's population growth, thriving economy, high livability, and the potential for rental property market expansion, St. Petersburg emerges as a sound option for real estate investors. However, like any investment, thorough research, and a careful assessment of individual financial goals and risk tolerance are crucial before making investment decisions.

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Florida high school football: St. Petersburg Catholic announces 2025 schedule

Football schedules for the 2025 season are starting to be announced all across the Sunshine State and High School On SI Florida will share these as we see them.Recently, the St. Petersburg Barons announced the following slate of games for 2025. The Barons will play 10 games, including two contests against Evangelical Christian and Tampa Catholic.Among other teams on the schedule are Haines City, Indian Rocks Christian, Northside Christia...

Football schedules for the 2025 season are starting to be announced all across the Sunshine State and High School On SI Florida will share these as we see them.

Recently, the St. Petersburg Barons announced the following slate of games for 2025. The Barons will play 10 games, including two contests against Evangelical Christian and Tampa Catholic.

Among other teams on the schedule are Haines City, Indian Rocks Christian, Northside Christian and at home against Victory Christian.

Below is the Barons' 2025 regular season schedule, with official game times to be announced.

2025 ST. PETERSBURG CATHOLIC FOOTBALL SCHEDULE

Aug. 15: vs. Countryside (preseason)

Aug. 22: vs. Alachua Santa Fe (California)

Aug. 29: vs. Tampa Catholic

Sep. 5: vs. Evangelical Christian

Sep. 12: vs. Indian Rocks Christian

Sep. 26: at Southwest Florida Christian

Oct. 3: vs. Victory Christian

Oct. 10: at Northside Christian

Oct. 17: vs. Out-of-Door Academy

Oct. 24: vs. Seffner Christian Academy

Oct. 31: at Haines City

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Follow High School On SI throughout the 2024 high school football season for Live Updates, the most up to date Schedules & Scores and complete coverage from the preseason through the state championships!

Be sure to Bookmark High School on SI for all of the latest high school football news.

High School On SI will serve as the premier destination for high school sports fans, delivering unparalleled coverage of high school athletics nationwide through in-depth stories, recruiting coverage, rankings, highlights and much more. The launch of a dedicated high school experience expands Sports Illustrated’s reach to even more local communities as fans can now truly follow athletes from “preps to the pros” on a single platform, bringing them closer to the action than ever before. For more information, visit si.com/high-school.

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Lunar data center intact despite lunar lander's botched landing, St. Pete company says

The BriefSt. Petersburg-based space startup Lonestar Data Holdings says its lunar data center is the only surviving payload after a private lunar lander came down sideways on the moon.Lunar lander declared deadThe backstory:The Nova-C lander, named Athena by Intuitive Machines, launched onboard a SpaceX rocket in late February.A view from the Nova-C Ath...

The Brief

St. Petersburg-based space startup Lonestar Data Holdings says its lunar data center is the only surviving payload after a private lunar lander came down sideways on the moon.

Lunar lander declared dead

The backstory:

The Nova-C lander, named Athena by Intuitive Machines, launched onboard a SpaceX rocket in late February.

A view from the Nova-C Athena lander moments before touching down near the lunar south pole on Thursday, March 6, 2025. (Intuitive Machines)

On Thursday, the lander missed its mark by more than 800 feet and ended up in a frigid crater, with the company declaring it dead on Friday.

Lonestar's Freedom Data Center

Local perspective:

Amid tens of millions of dollars' worth of experiments onboard the lander was Lonestar's Freedom Data Center, carrying 8 terabytes worth of material from the State of Florida as well as other government and business organizations.

The data center is encased in a 3D-printed shell built to endure harsh lunar conditions for more than a millennium, the company said.

Lonestar told FOX 13 its goal is to preserve such records 240,000 miles from Earth, away from any potential natural disasters, cyber threats, and other risks.

"Our core mission is saving Earth’s data, one byte at a time," said Chris Stott, CEO of Lonestar, in a recent news release. "But we also want to inspire—this project is a blend of technology and art that will last for a thousand years."

The company monitored the mission from its pop-up "mission control center" in St. Pete.

On Friday, Lonestar confirmed the data center is intact despite the botched landing on the moon's surface.

What's next:

Lonestar says it hopes to expand its lunar infrastructure, providing off-world data backup for businesses, governments, and even future space missions.

The Source: This story was written with information provided by Lonestar Data Holdings, along with previous FOX 13 and FOX News Digital reports. The Associated Press contributed to this report.

St. PetersburgAir and Space

St. Petersburg, Florida, to Deliver Improved Resident Services Through Tyler Technologies’ Solutions

PLANO, Texas--(BUSINESS WIRE)--Tyler Technologies, Inc. (NYSE: TYL) has announced it has signed an agreement with the City of St. Petersburg, Florida, for several Tyler solutions including its ...

PLANO, Texas--(BUSINESS WIRE)--Tyler Technologies, Inc. (NYSE: TYL) has announced it has signed an agreement with the City of St. Petersburg, Florida, for several Tyler solutions including its Enterprise ERP and Enterprise Permitting & Licensing suites that are integrated and purpose-built for government.

“As we looked to upgrade our current aging ERP and permitting system, we knew we needed a solution that would bring better efficiency to our staff and more transparency and a better overall government experience to our residents,” said St. Petersburg Mayor Kenneth T. Welch. “With innovation as one of our principles for accountable and responsive government, we’re excited to implement Tyler’s solutions to accomplish our goals.”

St. Petersburg’s selection of a combination of Tyler’s community development, service requests, permitting and licensing, utility billing, payments, and enterprise asset management solutions will bring a number of new capabilities and improvements, including:

“Government modernization initiatives help our clients bring together critical business functions while creating a better experience for staff and residents,” said Chris Webster, president of Tyler’s ERP & Civic Division. “Our flagship ERP and permitting and licensing solutions are robust but user friendly, allowing the city to elevate their services. We are confident its residents will experience a more seamless experience in paying utility bills, applying for permits, requesting services, and much more.”

About Tyler Technologies, Inc.

Tyler Technologies (NYSE: TYL) is a leading provider of integrated software and technology services for the public sector. Tyler’s end-to-end solutions empower local, state, and federal government entities to operate efficiently and transparently with residents and each other. By connecting data and processes across disparate systems, Tyler’s solutions transform how clients turn actionable insights into opportunities and solutions for their communities. Tyler has more than 45,000 successful installations across 13,000 locations, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been recognized numerous times for growth and innovation, including on Government Technology’s GovTech 100 list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.

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Contacts

Jennifer Kepler Tyler Technologies 972.713.3770 Media.team@tylertech.com

Disclaimer:

This website publishes news articles that contain copyrighted material whose use has not been specifically authorized by the copyright owner. The non-commercial use of these news articles for the purposes of local news reporting constitutes "Fair Use" of the copyrighted materials as provided for in Section 107 of the US Copyright Law.
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