Florida Reverse Mortgages

Current State:


Use the interactive map or the state selector to find more reverse mortgage information about your state.

State Selector

Please select your state below to see more information.

How a Reverse Mortgage Works in FL

GoodLife Home Loans provides Florida reverse mortgages, allowing eligible seniors to tap into a portion of their home equity and convert it into loan proceeds. This enables them to live at home while achieving financial freedom and a higher quality of living in retirement. For instance, a reverse mortgage, often known as a home equity conversion mortgage (HECM), could be used to fund:

  • Payment of existing debt
  • Medical expenses
  • Home renovations and accessibility upgrades
  • General cost of living needs
  • Leisure and hobbies

Our comprehensive reverse mortgage guide walks you through what you need to know before applying. If you want to get a sense of the proceeds you may gain access to through a HECM, use our reverse mortgage calculator.

To learn more about the structure of a reverse mortgage in Florida, download GoodLife’s reverse mortgage guide for additional information.

Have a question about Florida reverse mortgages?
Contact us today.

Reverse Mortgage Qualifications & Requirements

Reverse mortgages are overseen by the Federal Housing Administration (FHA) and the Department of Housing and Urban Development (HUD). That means states must also comply with regulations put forth by these governing bodies. Florida reverse mortgage companies must ensure their customers are compliant with these conditions:

  • Applicants must be 62 years old or older
  • Borrowers must live in the property in question as their primary residence
  • Borrowers must own substantial equity in their home
  • Borrowers must maintain all FHA reverse mortgage eligibility requirements, like keeping the home structurally sound
  • Applicant must complete a HUD-approved counseling meeting prior to applying

Florida Reverse Mortgage Calculator

Use our reverse mortgage calculator to receive a free loan estimate.

  • 1

    Eligibility Information
  • 2

    Personal Information
  • 3Confirmation



If your home value is above $765,600 please contact us for a customized benefit summary.


GoodLife will use and protect my personally identifiable information as stated in its Privacy Policy. I agree to be contacted by GoodLife about reverse mortgages via telephone, text message, or email. I can revoke consent for one or all kinds of contact at any time, including by calling GoodLife Home Loans at 1-866-839-9342, emailing to info@GoodLifeHomeLoans.com or clicking here.

Florida Reverse Mortgage Process

GoodLife makes the reverse mortgage application process simple and straightforward, so we can connect seniors with much-needed retirement funding when they need it. If you are considering a HECM loan in Florida, you can follow these steps:


Before committing to any financial path, it’s smart to know the facts. The GoodLife resource center provides comprehensive information on reverse mortgages, so you can decide with confidence. Still not sure? A Reverse Mortgage Specialist can walk you through what you need to know.


HUD requires all reverse mortgage applicants meet with an approved counselor, who will help walk you through the ins and outs of a reverse mortgage as it pertains to your personal financial situation.


Once you have met with the counselor, you can submit your application. An appraiser will inspect the home to ensure FHA compliance, and will determine the value of the home which is used as part of determining your available loan proceeds. Once this stage is complete, the loan will be prepared for disbursement.


Borrowers can decide whether they want to collect proceeds as a lump sum, in cash installments, or as a line of credit; a combination of those options is also available. Once the loan is approved, proceeds can be disbursed directly to your bank account.

Reverse Mortgages in FL: FAQs

Those with questions can refer to our reverse mortgage FAQs to find the answers they need.

Can I get a reverse mortgage if I have a mortgage?

Homeowners with an outstanding mortgage balance can qualify for a reverse mortgage, provided they own substantial equity in the home, and they meet all other eligibility requirements. The reverse mortgage will be used to pay off the existing mortgage at closing.

What type of home is not eligible for a reverse mortgage?

Properties with more than 4 units are not eligible. Certain FHA-approved condominiums are eligible, but others may not be. Homes with substantial maintenance issues or structural damage might not be eligible either. You must own substantial equity in the home, so those with large outstanding mortgages may not be eligible, those who do not live in the property in question as their primary residence are also ineligible.

Do you make monthly payments on a reverse mortgage?

Reverse mortgages, unlike home equity loans, do not require any monthly payments while the borrower is living in the home. Once the borrower moves out or passes away, the loan becomes payable. Heirs are required to either pay off the loan balance or permit the sale of the property once the loan becomes payable.

Living The GoodLife in Retirement may be possible with the benefit of a reverse mortgage. Speak with a Reverse Mortgage Specialist today to find out whether you qualify.

Check out our blog and videos to learn more about how you can live The Good Life in Retirement