✓ Licensed Florida Mortgage Broker
✓ NMLS #1901827 · FL License #MBR3278
✓ Florida Veterans, Service Members & Surviving Spouses
About this page: This page explains a proprietary reverse mortgage, minimum age 55, for Florida veterans and active service members, arranged by Sunshine State Home Loans, LLC, a licensed Florida mortgage broker (NMLS #1901827, BBB A+). Not a VA or government benefit.
Florida veterans and active service members 55 and older may qualify for a proprietary reverse mortgage. No age 62 requirement. No FHA or HUD condo community approval is required, subject to the product's own condo review.
Find Out If You 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.
If you are a Florida veteran or active service member 55 or older, fill out the short form below. We will go through your eligibility and your numbers with you. No commitment.
This is a short eligibility screen, not an application, not a credit decision and not a loan offer. Your answers tell us whether the program fits your home, and a licensed loan originator goes through the numbers with you before you apply for anything.
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.
There is no VA reverse mortgage. The Department of Veterans Affairs does not offer a reverse mortgage program. But Florida homeowners 55 and older, including veterans, may qualify for a proprietary reverse mortgage, a private loan through a licensed Florida mortgage broker. No FHA or HUD condo community approval is required, subject to the product's own condo review. There is no required monthly mortgage payment*. 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.
Active service members and veterans may qualify, subject to approval, for a rate benefit on this proprietary reverse mortgage. Every other term is the same as any proprietary reverse mortgage. Eligibility is confirmed at application.
The reverse mortgage many people know, the government-backed HECM program, requires borrowers to be at least 62 years old. If you researched a reverse mortgage at 57, 59, or 61 and were told you don't qualify yet, that answer applies to one specific program.
This proprietary reverse mortgage is not HECM. The minimum age is 55.
Florida veterans and active service members who own their primary residence and are at least 55 years old may qualify at 55, rather than waiting until 62. 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.
Many Florida veterans own condominiums in retirement communities, on the coast, or near the bases where they served. If your building is not on the FHA-approved list, an FHA HECM may not be available on your unit. Veterans hear "your building does not qualify" and assume all options are closed.
They are not.
The proprietary reverse mortgage program arranged through Sunshine State Home Loans, LLC requires no FHA or HUD condo community approval, subject to the product's own condo review; the lender makes the property decision.
Eligible property types:
With a proprietary reverse mortgage you are not required to make monthly mortgage payments* while you live in the home as your main home and meet the program obligations. 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.
Hear from Florida homeowners who have worked with Sunshine State Home Loans, LLC.
Is there a VA reverse mortgage in Florida?
No. The U.S. Department of Veterans Affairs does not offer a reverse mortgage program. Florida veterans and active service members 55 or older may ask Sunshine State Home Loans, LLC, a licensed Florida mortgage broker, about a proprietary private reverse mortgage. It is a private loan, not a VA or government benefit, subject to credit and property approval.
What is the minimum age for this reverse mortgage in Florida?
55. All title-holding borrowers must be at least 55 at closing. This proprietary private reverse mortgage, arranged by Sunshine State Home Loans, LLC, a licensed Florida mortgage broker, has no age 62 requirement. The FHA-insured HECM is a different program with a minimum age of 62. Florida primary residences only; subject to credit and property approval.
Does a spouse who is not on the reverse mortgage have protection?
On this program, no. When the homeowner is married, both spouses are borrowers, and each must be at least 55 at closing. There is no separate protection for a spouse who is not on the loan.
Can I get a reverse mortgage on a Florida condo without FHA approval?
Possibly. This proprietary reverse mortgage requires no FHA or HUD condo community approval, subject to the product's own condo review. Sunshine State Home Loans, LLC, a licensed Florida mortgage broker, reviews the property with you, and the lender makes the eligibility decision.
Is there a monthly mortgage payment on this proprietary reverse mortgage?
No required monthly mortgage payment* while the loan terms are met. The homeowner 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 their 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 when the last borrower sells, moves out permanently or dies.
Is there a rate benefit for veterans and active service members?
Active service members and veterans may qualify, subject to approval, for a rate benefit on this proprietary reverse mortgage. Every other term is the same as any proprietary reverse mortgage. Eligibility is confirmed at application. 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.
Sunshine State Home Loans, LLC is a licensed Florida mortgage broker, NMLS #1901827, FL License #MBR3278, not a lender or mortgage banker, rated BBB A+, working with homeowners across Florida. Diego Quintero, the company's owner and Mortgage Loan Originator, NMLS #1534075, works with Florida homeowners 55 and older, including veterans, active service members, and surviving spouses, on proprietary reverse mortgages. Reach us at (727) 244-7076.
Related: proprietary reverse mortgage · condos without FHA approval · age 55, not 62 · reverse mortgage line of credit
Tell us about your property and we will go through the program requirements with you; the lender makes the eligibility decision. No commitment. No pressure. Florida veterans 55 and older.
Sunshine State Home Loans, a mortgage broker. Licensed in Florida. Serving homeowners across the entire state.
This is not a commitment to lend. Loan approval is subject to credit, income, property, and underwriting review. Interest rate products include variable rate options. Rates are subject to change. Contact us for current rate information. Borrower must maintain the property as their primary residence and keep current on property taxes, homeowner's insurance, and HOA obligations. Loan balance becomes due and payable upon sale of the property, permanent vacancy, or death of the last remaining borrower. This program is not affiliated with or endorsed by any government agency. Not all applicants will qualify.
Interest rate may be fixed or variable depending on the option you choose; on the line of credit the rate is variable, and a variable rate is subject to change.