Can a retired person qualify for a mortgage in Florida?

Yes. Age cannot be used to discriminate. Retirees qualify using Social Security, pension, distributions, investment income, or asset depletion programs that convert portfolios into qualifying income.

Does Social Security count as income for a mortgage in Florida?

Yes. Social Security income is fully acceptable as qualifying income on all standard mortgage programs.

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Conventional · HECM · Asset Depletion · Reverse Mortgage

Mortgage Options for Retirees Florida: Every Path to Florida's Retirement Lifestyle

Retirement doesn’t limit your mortgage options — it changes them. Florida retirees have access to a broader range of financing tools than most realize, from no-payment reverse mortgages to asset-based qualification programs designed specifically for your stage of life. The key is knowing which one fits your situation.

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Kelly Nadeau NMLS #1027618 · Ray Nadeau NMLS #1027617 · Licensed in Florida · Equal Housing Lender
Not a commitment to lend. Subject to credit approval and program guidelines.

Kelly and Ray Nadeau Licensed Florida Mortgage Loan Officers NMLS 1027618 1027617 Retirement mortgage specialists. Every qualification pathway available to Florida retirees explained clearly and compared honestly

Kelly & Ray Nadeau

Retirement mortgage specialists. Every qualification pathway available to Florida retirees explained clearly and compared honestly. NMLS #1027618 & #1027617. Licensed in Florida. Serving Central Florida and statewide.

Retiree programs

Age discrimination in lending

Social

Security qualifies

Consult

◆ NMLS Verified

◆ Licensed in Florida

◆ 200+ Lending Options

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Distinct mortgage programs available to Florida retirees

Employment income needed on HECM or asset depletion

Fixed

Income sources fully acceptable for conventional

Age

Discrimination in lending is illegal

Complete Program Guide

Every Mortgage Option Available to Florida Retirees

Florida’s retirement population spans recently retired professionals in their early 60s to established retirees in their 80s. Each situation is different. Each has the right program.

Program	Income Required	Monthly Payment	Age Requirement	Best For
Conventional Mortgage	Social Security, pension, distributions, investment income	Yes — standard P&I	None	Retirees with documented income streams
Asset Depletion	Verified liquid assets divided by loan term	Yes — standard P&I	None	High-net-worth retirees with large portfolios
HECM Reverse Mortgage	None — equity-based	No P&I required	62+	Long-term homeowners wanting cash flow freedom
HECM for Purchase	None — equity-based	No P&I required	62+	Buying retirement home without payments
Jumbo Conventional	Full income documentation	Yes — standard P&I	None	Luxury retirement home buyers with strong income
Jumbo Asset Depletion	Verified assets, high-balance	Yes — standard P&I	None	Luxury buyers with portfolio wealth, minimal income

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Frequently Asked Questions

Questions Answered

At what age does conventional mortgage qualification become difficult?

Age itself is never a qualifying factor — it would be illegal age discrimination for a lender to decline based on age. Qualification is based on income, assets, and credit. However, retirees sometimes face income documentation challenges when transitioning off employment income, which is where alternative programs like asset depletion become valuable.

Can Social Security and pension income qualify for a mortgage in Florida?

Yes. Social Security, pension payments, annuity distributions, and regular retirement account distributions all qualify as acceptable income on standard mortgage programs. Lenders will request documentation of the income source, payment amount, and continuance.

Can required minimum distributions from a 401k count as qualifying income?

Yes. Documented RMDs or other scheduled retirement account distributions typically count as qualifying income. If you are not yet taking distributions, asset depletion programs may allow you to qualify based on the total portfolio value rather than actual distributions.

What credit score do I need to get a mortgage in retirement in Florida?

Credit score requirements are the same for retirees as for any other borrower. Conventional programs typically require 620 to 660 minimum, with better rates at 740 and above. HECM reverse mortgage programs have no minimum credit score requirement but do review credit history for outstanding federal obligations.

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Ready to Explore Mortgage Options for Your Florida Retirement?

Schedule a private consultation with Kelly or Ray. We’ll identify which program fits your retirement income picture and match you to the best available option.

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Kelly Nadeau NMLS #1027618 · Ray Nadeau NMLS #1027617 · Equity Smart Home Loans

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. Rates subject to change without notice.

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