Jacksonville Reverse Mortgages and Home Loans

Jacksonville is a big place. It's one of the largest cities by land area in the country, which means the homeowners I talk with live in a lot of different situations: older homes near the river, newer subdivisions, beach condos, and everything in between.

What they almost all share is a Florida tax bill and a Florida insurance bill. A reverse mortgage can free up money, but those two costs stay with you. So that's where we start.

The short version

• We help with reverse mortgages and regular home loans for Jacksonville homes, through our Florida loan officers.
• Reverse options include the HECM, the HECM for Purchase, and proprietary (jumbo) programs where available.
• Duval County offers two senior exemptions on top of the regular homestead exemption, for qualifying homeowners 65 and older.
• Your homestead and Save Our Homes cap stay in place with a reverse mortgage, as long as you keep living there.
• Condo not FHA-approved? A proprietary program may still work.
• Insurance is the bill to watch, including flood and wind.

Reverse mortgages for Jacksonville homeowners

The HECM

The HECM is the FHA-insured reverse mortgage. You must be 62 or older, live in the home as your primary residence, and have enough equity. You can take a line of credit, monthly payments, a lump sum, or a mix.

There are no required monthly mortgage payments. You must continue to pay property taxes and homeowners insurance, maintain the home, and meet the other loan terms.

We don't charge a monthly servicing fee on our HECMs.

The HECM for Purchase

The HECM for Purchase lets you buy a home with a down payment plus a reverse mortgage, with no required monthly mortgage payment afterward. You must continue to pay property taxes and homeowners insurance, maintain the home, and meet the other loan terms.

It works well for people moving to Jacksonville to be near family, or moving from a big house to something easier to keep up. The home must become your primary residence within 60 days of closing. We can generally close in 30 days or less, but we always follow the contract.

Proprietary (jumbo) reverse mortgages

If your home is worth more than the HECM limit, or your condo isn't FHA-approved, a jumbo reverse mortgage may be worth comparing. We can do Florida condos that aren't FHA-approved with proprietary programs. We compare programs including Mutual of Omaha Secure Equity, Finance of America HomeSafe, Longbridge Platinum, Smartfi Choice, Nationwide Equities EquityPower, and MCM Holdings MCM Edge. Finance of America's HomeSafe Standard is approved in Florida, and availability for the others varies. See Lending Limits for the current HECM limit.

Property taxes in Jacksonville: use every break

The homestead exemption

If the home is your permanent residence, Florida's homestead exemption can lower its assessed value: one part applies to all property taxes, and an additional part, adjusted each year for inflation, applies to non-school taxes. You file with the Duval County Property Appraiser by March 1.

The Save Our Homes cap

Once you have a homestead exemption, Save Our Homes limits how much your assessed value can rise each year to 3 percent or the change in the Consumer Price Index, whichever is less. If you move within Florida, portability can carry some of those savings to your new home.

A reverse mortgage doesn't change who owns the home. Your homestead and Save Our Homes cap stay in place as long as you keep living there as your permanent residence.

Duval County's senior exemptions

Duval County offers two added exemptions for homeowners 65 and older with household income under a limit that's adjusted each year:

• The limited-income senior exemption, up to an added $50,000 off the value used for county and city taxes.
• The long-term resident senior exemption, for people who've lived in the home as their permanent residence for at least 25 years and whose home's just value is under $250,000. It can generally exempt the City of Jacksonville's portion of the tax, up to the home's assessed value.

Both require an application and a statement of household income (Florida form DR-501SC), generally filed with the Property Appraiser by March 1. If you already have the first one and think you're eligible for the second, you have to apply for it separately. Call the Duval County Property Appraiser at 904-255-5900 to ask about the forms you need.

A change on the ballot

A proposed homestead property tax amendment is on the November 3, 2026 ballot. If it passes, we'll update this page.

Insurance and your reverse mortgage

With a HECM, you must keep homeowners insurance on the home. In Florida, wind coverage is generally part of what the lender requires, and if the home is in a FEMA Special Flood Hazard Area, FHA requires flood insurance too. Near the river, the marshes, or the beaches, check the flood map before you do anything else.

Your premium is part of the financial assessment. Most of the people I work with pass it, because we take the time to explain any credit issues the right way. If taxes and insurance look tight, part of the loan can be set aside to pay them for you.

After a storm, call your servicer, file your claim, and keep records. HUD may delay foreclosures in Presidentially declared disaster areas, but your obligations continue. Read What Reverse Mortgage Borrowers Need to Know After a Natural Disaster.

Condos and manufactured homes

Condos

For a HECM, a condo generally needs FHA project approval, or the unit may qualify through single-unit approval. If the building isn't approved, we can often look at a proprietary program instead.

Florida also requires milestone inspections and reserve studies for condo buildings three stories or taller. That can mean special assessments, and with any reverse mortgage, HOA and condo dues and assessments are part of what you must keep paying. Ask the association about inspections and reserves before you buy.

Manufactured homes

A manufactured home can qualify for a HECM if it meets FHA's rules, including being built after June 15, 1976, on a permanent foundation, and classified as real property. If it sits on leased land, our lenders follow HUD's leasehold rules, which generally require a long enough lease term. Bring a copy of the lease when we talk.

Home loans for Jacksonville buyers and owners

We also help with:

• Buying a home and seeing your buying power before you shop.
• Refinancing.
• Home equity loans and HELOCs.
• FHA loans, conventional loans, and jumbo loans.
• VA loans for eligible veterans, service members, and surviving spouses. With NAS Jacksonville and Naval Station Mayport nearby, VA loans are worth a look for eligible Jacksonville buyers.

Request a rate quote for your numbers.

How we work with Jacksonville clients

1. A conversation by phone or video about your goals, taxes, and insurance.
2. Counseling with an independent, HUD-approved counselor for a HECM, usually by phone or video. See Reverse Mortgage Counseling.
3. Application and appraisal. An appraiser visits the home, or the home you're buying.
4. Signing usually with a mobile notary at your home.

Jacksonville resources

• City of Jacksonville Property Appraiser: senior citizen homestead exemptions
• Florida Department of Revenue: homestead exemption (PT-113)
• Florida Department of Revenue: Save Our Homes and portability (PT-112)
• HUD-approved housing counselors: hud.gov/counseling or (800) 569-4287

Common questions

Will a reverse mortgage affect my Duval County senior exemption?

It shouldn't. The exemptions are based on age, income, ownership, and living in the home, and a reverse mortgage doesn't change ownership. Ask the Property Appraiser how loan money is treated when you report household income.

Can I get a reverse mortgage on a Jacksonville condo that isn't FHA-approved?

Often, yes, with a proprietary program. A HECM may also work through single-unit approval.

Do I need flood insurance for a reverse mortgage in Jacksonville?

If the home is in a FEMA Special Flood Hazard Area, FHA requires it for a HECM. Even if it isn't, it's worth pricing.

Can I use a reverse mortgage to buy a home in Jacksonville?

Yes, with a HECM for Purchase, if you're 62 or older, the home will be your primary residence within 60 days of closing, and you meet the other HECM requirements, like counseling and the financial assessment.

What if my insurance premium goes up after closing?

You must keep paying it. That's why it pays to get an insurance quote early, and talk about a set-aside if it's tight.

Next step

Get My Estimate, find a loan officer for Florida, or call us at 530-888-6000. See our Florida page and the full guide to Reverse Mortgages.

Sources

• City of Jacksonville Property Appraiser, Senior Citizen Homestead Exemptions: jacksonville.gov
• Florida Department of Revenue, Property Tax Information for Homestead Exemption (PT-113): floridarevenue.com
• Florida Department of Revenue, Save Our Homes and portability (PT-112): floridarevenue.com
• Section 196.075, Florida Statutes: flsenate.gov
• Florida Senate, CS/SB 4-D (2022) bill summary: flsenate.gov
• Ballotpedia News, June 3, 2026: ballotpedia.org
• 24 CFR Part 206, Home Equity Conversion Mortgage Insurance: ecfr.gov
• HUD Mortgagee Letter 2019-17, summarized by Hinshaw & Culbertson: hinshawlaw.com
• HUD, FHA Reverse Mortgage for Seniors (HECM): hud.gov