Reverse Mortgage Requirements in Florida
What you need for a reverse mortgage in Florida: age 62 or older, a primary residence with strong equity, HUD counseling, and the ability to keep up with taxes and insurance. Licensed FL mortgage broker NMLS# 1859012.
By Onias Derilus, Mortgage Capital · NMLS# 1859012 · Last Updated: June 2026
A reverse mortgage has clear requirements built to protect older homeowners. You must be at least 62, live in the home as your primary residence, hold substantial equity, and complete HUD-approved counseling. You also commit to keeping taxes, insurance, and upkeep current. Here is the full picture before you apply.
What You Need to Qualify
The federally insured HECM is the most common reverse mortgage, and its rules are standardized. You qualify on age, occupancy, equity, and a willingness to maintain the home and stay current on taxes and insurance.
Because the lender pays you rather than the reverse, there is no minimum income or credit score in the traditional sense, though a financial assessment confirms you can keep up with property charges.
Home Standards and HUD Counseling
The home must meet FHA property standards, which matters for some older Florida coastal properties. Eligible homes include single-family residences, many condos, and some manufactured homes.
Every borrower completes a session with a HUD-approved counselor before the loan can proceed. The session explains how the loan works, the costs, and the alternatives, so you decide with full information.
What You Agree to Maintain
A reverse mortgage requires you to keep property taxes, homeowners and flood insurance, and any HOA dues current, and to maintain the home in good condition. Falling behind can cause the loan to become due.
A financial assessment at application confirms you can meet these obligations. Bring questions about your situation, and we will walk through whether a reverse mortgage or another option fits best.
Reverse Mortgage Requirements — FAQ
You must be at least 62, occupy the home as your primary residence, own it outright or carry a low balance you can pay off at closing, complete HUD-approved counseling, and keep property taxes, insurance, and HOA dues current while maintaining the home.
There is no traditional minimum credit score or income because the lender pays you. However, a financial assessment confirms you can keep up with property taxes, insurance, and upkeep, which are ongoing obligations under the loan.
Eligible properties include single-family homes, many condominiums, and some manufactured homes, and the home must meet FHA property standards. That standard matters for some older Florida coastal properties, so the home is reviewed during the process.
See If You Meet Reverse Mortgage Requirements
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Rates are illustrative only. APR and payments vary by credit score, loan amount, and market conditions. Subject to credit approval. Not a commitment to lend. NMLS# 1859012. Equal Housing Lender.