Reverse Mortgage

No Mortgage Payments – Retire at the age of 62

What is a Reverse Mortgage?

A reverse mortgage is an excellent option for seniors with moderate to high equity in their home that need some extra money or financial relief. Reverse mortgage loans are available only to homeowners, at least one of whom is 62 years of age and older. The loan provides a number of benefits, including:

  • paying off a current mortgage, should you have one
  • allowing seniors to live in their home without making monthly mortgage payments *
  • providing tax-free ** money for any use
  • ability to pay monthly bills and live comfortably
  • providing freedom from medical bills and debt
  • providing cash for remodeling or home renovations
  • retaining ownership of your home. *

A reverse mortgage may allow you to enjoy a more comfortable retirement and maintain your independence.

Reverse Mortgage Options and Obligations

Reverse mortgages allow homeowners to access their equity in several ways. You can receive money as a lump sum, a line of credit, a monthly payment, or any combination of the three depending on the loan program that you choose. You retain the title to your home, and are responsible for all property taxes, insurance costs, and house maintenance—all of which can be paid out of cash secured by the loan.

For homeowners’ protection, reverse mortgages are designed so you cannot owe more than your house is worth. The loan itself does not come due for as long as you live in the house as your primary residence and as long as you keep your property taxes, insurance up to date and the home adequately maintained.

One Reverse Mortgage offers three different loan options:

  • HECM Fixed
  • HECM Line of Credit
  • HECM for Purchase.

A HECM for purchase loan differs from other reverse mortgages. Instead of access existing equity, the loan gives seniors an opportunity to purchase a home without making monthly mortgage payments.*

* – Homewoner is responsible for property taxes, insurance and maintenance
** – Please consult with a financial adviser

Call Us 954-416-1765

or Request Information

Fernando Mongalo
Fernando Mongalo
06:14 16 Dec 17
Great experience and super satisfied to all my needs towards our first home purchase
Leslie Moya
Leslie Moya
20:48 15 Nov 17
Tony Mendez has an Awesome Mortgage team. As a Buyer's Real Estate Agent, when my buyers are approved with Florida Mortgage Solutions, I know we have a Real-Time, Good-to-Go, Closing on our hands. Today my buyers closed on their new home, and Tony's team approved their loan in record breaking time! Thank You FL Mortgage Solutions! ☆ We couldn't have done it with out you ☆
leonel ramirez
leonel ramirez
16:10 23 May 17
my family and I are currently working on the details of my loan and they are very knowledgeable especially when it came to getting approved with a VA loan. Mike Lewis and his team of experts are the creams of the crop. first home for us and I wouldn't recommend anyone else to put you in the right place. thanks for all of your efforts and experience.
Calvin Ford
Calvin Ford
14:10 02 Mar 17
Tony Mendez and his team were outstanding!! As a first time buyer they were made our approval process smooth and stress free! I highly recommend!!
Ed Goldfarb
Ed Goldfarb
01:48 30 Nov 16
As a Realtor it is imperative anyone or firm my team and I refer our clients can make us look good. After two years working with Mike and Jenny, they have ALWAYS COME THROUGH. Even a $1.2 million buyer with low credit scores got a bank rate loan. Everyone that my team and I refer love them and so do we. BTW they also all my seller ingredients clients prospective buyers.
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Reverse Benefits

  • Choose the payout option that works for you
  • No mortgage payments; still pay taxes and insurance
  • Still own and live in your home while receiving cash
  • Generally will not affect your social security

Common Misconceptions

  • Difficult to qualify
  • Liable for the loan balances that exceed home value
  • The bank owns your home
  • Reverse Mortgages are expensive (prices vary by product)


  • Qualifying is Easy
  • Youngest homeowner must be at least 62+
  • If you own your home or have a ton of equity
  • Your home is your primary residence