This page explains how Florida homeowners aged 55 and older may explore a proprietary private reverse mortgage arranged by Sunshine State Home Loans, LLC, a licensed Florida mortgage broker, and how it differs from the FHA HECM. Written and reviewed by Diego Quintero, Mortgage Loan Originator, NMLS #1534075.
Yes, it is possible. Sunshine State Home Loans, LLC, a licensed Florida mortgage broker, arranges a proprietary private reverse mortgage available to Florida homeowners starting at age 55. The age 62 minimum applies to the FHA HECM, not to this private loan.
See If You May Qualify Or Call (727) 244-7076No obligation · We take our time with you
You keep paying property taxes, homeowners insurance and any association dues, keep the home in repair and live in it as your main home. Interest and fees are added to the loan balance, so the amount you owe grows over time. The rate is fixed or variable depending on the option you choose; on the line of credit the rate is variable, and a variable rate can change. You may qualify, subject to approval.
Fill out the short form below and we will prepare your reverse mortgage loan comparison and reach out to discuss your options. No commitment. No obligation of any kind.
Your information stays private. We do not sell your personal information.
Please note: Borrowers are always responsible for the payment of property taxes, homeowners insurance, HOA dues, and any special assessments. Failure to meet these obligations may result in the loan becoming due and payable. This is not a commitment to lend. All loans are subject to credit and property approval.
Many reverse mortgage lenders in Florida will tell you the same thing: you have to be at least 62. That is true for the government FHA reverse mortgage called the HECM, which has a federal minimum age of 62. It is not the only reverse mortgage available. Sunshine State Home Loans, LLC, a licensed Florida mortgage broker, arranges a proprietary private reverse mortgage with a minimum age of 55. The lender that funds this loan (Sunshine State Home Loans is the broker) makes the credit decision. If you have reached your 55th birthday, you may qualify, subject to approval.
Sunshine State Home Loans, a licensed Florida mortgage broker, arranges a proprietary reverse mortgage available to Florida homeowners starting at age 55. This is not a government loan. It is a private proprietary loan that follows all applicable federal and state lending regulations but is not subject to the FHA age requirement of 62. It lets a homeowner draw on home equity without selling the home. The borrower keeps paying property taxes, homeowners insurance and any association dues, keeps the home in repair and lives in it as the main home. The loan balance grows over time, and the rate is fixed or variable depending on the option you choose; on the line of credit the rate is variable, and a variable rate can change. Subject to property and borrower approval. You keep paying property taxes, homeowners insurance and any association dues, keep the home in repair and live in it as your main home. Interest and fees are added to the loan balance, so the amount you owe grows over time. The rate is fixed or variable depending on the option you choose; on the line of credit the rate is variable, and a variable rate can change. You may qualify, subject to approval.
Available at age 55, seven years before the FHA program minimum of 62. You may qualify subject to approval.
No FHA or HUD condo community approval is required, subject to the product's own condo review.
No required monthly mortgage payment* while the loan terms are met. The borrower keeps paying property taxes, homeowners insurance, HOA dues and special assessments, keeps the home in good repair, and lives in it as a main home. Interest and fees are added to the loan balance, so the amount owed grows over time. The rate is fixed or variable depending on the option you choose; on the line of credit the rate is variable, and a variable rate can change. The loan balance becomes due on sale, when the home is no longer the borrower's main home, or on the borrower's passing.
The FHA program charges an upfront mortgage insurance premium. The proprietary loan arranged by Sunshine State Home Loans does not, because it is not a government program. You keep paying property taxes, homeowners insurance and any association dues, keep the home in repair and live in it as your main home. Interest and fees are added to the loan balance, so the amount you owe grows over time. The rate is fixed or variable depending on the option you choose; on the line of credit the rate is variable, and a variable rate can change. You may qualify, subject to approval.
We prepare a complete reverse mortgage loan comparison at no cost and with no obligation. Find out what you may qualify for.
Hear from Florida homeowners who have worked with Sunshine State Home Loans, LLC.
Can you get a reverse mortgage at age 55 in Florida?
Yes, through a proprietary private reverse mortgage. Sunshine State Home Loans, LLC, a licensed Florida mortgage broker (NMLS ID #1901827, FL License #MBR3278), arranges it for Florida homeowners from their 55th birthday. The FHA-insured HECM has a minimum age of 62. The lender decides each application; you may qualify, subject to approval.
Is the age 55 reverse mortgage the FHA HECM?
No. The HECM is the FHA government program; it has a minimum age of 62 and charges an upfront mortgage insurance premium. The proprietary reverse mortgage arranged by Sunshine State Home Loans, LLC is a private loan, not a government program, with a minimum age of 55 and no upfront mortgage insurance premium.
Does my Florida condo have to be FHA approved for a reverse mortgage at 55?
No FHA or HUD condo community approval is required, subject to the product's own condo review.
How much can I get from a reverse mortgage at age 55?
The amount you may qualify for depends on your age, your home value, current interest rates and any existing mortgage balance. Younger borrowers generally may qualify for a smaller percentage of home value. Sunshine State Home Loans, LLC prepares a reverse mortgage loan comparison at no cost and no obligation; any loan is subject to approval.
Do I make monthly mortgage payments on a reverse mortgage at 55?
No required monthly mortgage payment* while you meet the loan terms. You must keep paying property taxes, homeowners insurance and any HOA dues and special assessments, keep the home in good repair, and live in it as your main home. Interest and fees are added to the loan balance, so the amount owed grows over time. The rate is fixed or variable depending on the option you choose; on the line of credit the rate is variable, and a variable rate can change. The balance becomes due on sale, when the home is no longer your main home, or on the borrower's passing.
We will review your situation and prepare a complete comparison at no cost or obligation.
Sunshine State Home Loans, LLC · Licensed Florida Mortgage Broker · Serving homeowners across the entire state
This website is for informational purposes only and does not constitute financial, legal, or tax advice. Reverse mortgage products are subject to eligibility requirements, terms, and conditions. All loans are subject to credit approval. This material is not a commitment to lend. Sunshine State Home Loans is licensed to offer mortgage products in the state of Florida. Results vary based on individual circumstances. For complete program details, please contact us directly at (727) 244-7076.