Page last updated: July 2026 · Rates and program guidelines current as of publish date
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2026 Limits Updated

Florida Reverse Mortgage Guide

A reverse mortgage (HECM) lets Florida homeowners 62 and older convert home equity into cash with no required monthly mortgage payments. For 2026, HUD raised the national HECM lending limit to $1,249,125 — the tenth consecutive annual increase — as senior homeowner equity nationwide reached an estimated $14.39 trillion, the highest level ever recorded.

$1,249,125
2026 national HECM lending limit, up from $1,209,750 in 2025 (HUD)
62+
Minimum age of the youngest borrower to qualify
$0
Required monthly mortgage payments, as long as loan obligations are met
The HECM Program Family

Four Ways Florida Retirees Use Home Equity

Traditional HECM

Convert equity in your current home into a lump sum, line of credit, monthly payments, or a combination.

HECM for Purchase

Buy your next Florida home with a reverse mortgage in a single transaction, no separate forward mortgage required.

HECM Line of Credit

An unused HECM credit line grows over time, unlike a HELOC which can be frozen or reduced.

Proprietary (Jumbo) Reverse

For homes valued above the $1,249,125 HECM limit, privately insured jumbo reverse programs may access more equity.

What Doesn't Change

You Keep Your Home, Your Title, and Your Obligations

1

You Retain Ownership

A HECM does not transfer title. You remain the owner of your home throughout the life of the loan.

2

You Still Pay Taxes, Insurance & Upkeep

Borrowers remain responsible for property taxes, homeowners insurance, and home maintenance.

3

HUD Counseling Is Required

Independent, HUD-approved counseling is required before closing so you fully understand the loan before committing.

Considering Selling Instead?

See how a reverse mortgage compares to selling your home outright before you decide.

Reverse Mortgage vs. Selling →
Frequently Asked Questions

Florida Reverse Mortgages, Explained

What is the 2026 HECM lending limit?
For 2026, HUD set the national HECM lending limit at $1,249,125, up from $1,209,750 in 2025 — the tenth consecutive year of increases. This single nationwide figure applies to every U.S. county, unlike forward mortgage limits which vary by county.
Who qualifies for a reverse mortgage in Florida?
The youngest borrower must be at least 62, the home must be the borrower's primary residence, the borrower must have sufficient home equity, and HUD-approved reverse mortgage counseling is required before closing.
Do I still own my home with a reverse mortgage?
Yes. You retain title and ownership. You remain responsible for property taxes, homeowners insurance, and maintenance. The loan becomes due when the last borrower sells, moves out permanently, or passes away.
Is reverse mortgage money taxable?
Reverse mortgage proceeds are generally considered loan advances, not income, and are typically not taxable. This is not tax advice; consult a qualified tax professional about your specific situation.
Talk With Kelly & Ray

See What Your Home Equity Could Mean for Retirement

Private consultation with Kelly or Ray Nadeau. We'll walk through eligibility, the HUD counseling step, and whether a HECM fits your goals — no obligation.

Schedule a Consultation → Already Qualified? Apply →
📞 321-321-9455 · Kelly Nadeau NMLS #1027618 · Ray Nadeau NMLS #1027617
Kelly Nadeau NMLS #1027618 | Ray Nadeau NMLS #1027617 | Equity Smart Home Loans NMLS #856170 | Equal Housing Lender
Not a commitment to lend. All loans subject to credit approval and program guidelines. Qualification pathway and income calculation methods vary by program. Rates and programs subject to change without notice.
Trusted Resources:
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