Orlando Reverse Mortgages and Home Loans

Orlando has a lot of homeowners who grew up somewhere else. Some moved here decades ago and paid off the house. Some are just arriving, trading a northern winter for a lanai. Both groups end up asking me versions of the same question: how do I make this home work for the rest of my life?

A reverse mortgage can be part of that answer. But in Florida, the loan is only half the conversation. The other half is your homestead exemption and your insurance bill, because those are the costs you keep paying.

The short version

• We help with reverse mortgages and regular home loans for Orlando homes, through our Florida loan officers.
• Reverse options include the HECM, the HECM for Purchase, and proprietary (jumbo) programs where available.
• Your homestead exemption and Save Our Homes cap keep your taxes lower. A reverse mortgage doesn't change them.
• There may be an extra senior exemption. Florida lets counties and cities offer an added exemption for some homeowners 65 and older.
• Moving here? A HECM for Purchase can help you buy, and the homestead filing date matters.
• Insurance is the bill to watch. You must keep homeowners insurance, and flood insurance if your home is in a FEMA Special Flood Hazard Area.

Reverse mortgages for Orlando 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.

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.

This is the loan I'd want every person relocating to Florida in retirement to know about. Instead of paying cash for the whole house, or taking on a new monthly payment, you put down a portion and keep the rest of your savings working. The new home must become your primary residence within 60 days of closing.

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. In Florida, we can do condos that aren't FHA-approved with proprietary programs. We work with programs including Mutual of Omaha Secure Equity, Finance of America HomeSafe, Longbridge Platinum, Smartfi Choice, Nationwide Equities EquityPower, and MCM Holdings MCM Edge, and availability varies by state. Finance of America's HomeSafe Standard is approved in Florida. See Lending Limits for the current HECM limit.

Florida property taxes: put every break to work

The homestead exemption

If the home is your permanent residence, Florida's homestead exemption can lower its assessed value. The first $25,000 applies to all property taxes, including school taxes. A second, additional exemption applies to assessed value over $50,000, only for non-school taxes, and is adjusted each year for inflation. You file with the 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. The longer you've owned, the more that cap tends to be worth.

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.

An added exemption for some seniors

Florida law lets a county or city adopt an extra homestead exemption for homeowners 65 and older with household income under a limit that's adjusted every year. There's also a version for long-time residents who've owned their home for at least 25 years, when the home's value is under a set amount.

Not every county or city adopts these, and the rules differ by taxing authority. Ask the Orange County Property Appraiser whether it's offered where you live and whether you're eligible, and file your income statement by March 1 if you are.

Moving to Orlando: get the timing right

Florida's homestead exemption is based on who owns and lives in the home as of January 1. If you buy in, say, June, you generally won't get the exemption until the following January 1, and you'll file by March 1 of that year.

If you're moving from another Florida home, portability can carry your Save Our Homes savings with you, up to a limit, if you had a homestead exemption on your old Florida home as of January 1 of any of the three years before you set up the new one. Talk with the property appraiser before you close, not after.

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. Check with your county property appraiser for the latest.

Florida insurance and your reverse mortgage

What you must keep

With a HECM, you must keep homeowners insurance on the home. If the home is in a FEMA Special Flood Hazard Area, FHA requires flood insurance too. In Florida, wind coverage is generally part of what the lender requires. Being inland doesn't take hurricanes off the table, so don't skip the flood map just because the beach is an hour away.

How we plan for it

• We look at your insurance before you apply. Your premium is part of the financial assessment.
• A set-aside can help. If property charges look tight, part of the loan can be set aside to pay taxes and insurance for you, called a LESA.
• Shop your coverage every year. Freeing up a monthly mortgage payment can make a higher premium much easier to carry.

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 planned communities

For a HECM, a condo generally needs FHA project approval, or the unit may qualify through single-unit approval. If it isn't, we can do condos that aren't FHA-approved with a proprietary (jumbo) program.

Florida also requires milestone inspections and reserve studies for condo buildings three stories or taller. That can mean special assessments, and with a reverse mortgage, HOA and condo dues and assessments are part of what you must keep paying. Before you buy a condo with a HECM for Purchase, ask the association about its inspection status and reserves.

In a planned community with an HOA, the same idea applies. Know the dues, and ask whether any big assessments are coming.

Home loans for Orlando 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 and service members.

Request a rate quote for your numbers.

How we work with Orlando clients

1. A conversation by phone or video about your goals, taxes, and insurance. If you're still living out of state, that's fine.
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 FHA appraiser visits the home, or the home you're buying.
4. Signing usually with a mobile notary at your home.

Orlando resources

• Florida Department of Revenue: homestead exemption (PT-113)
• Florida Department of Revenue: Save Our Homes and portability (PT-112)
• Section 196.075, Florida Statutes: additional homestead exemption at age 65
• HUD-approved housing counselors: hud.gov/counseling or (800) 569-4287

Common questions

Will a reverse mortgage affect my Florida homestead exemption?

It shouldn't. You still own the home and live there as your permanent residence. Keep your homestead filing current.

I just moved to Orlando. Can I use a HECM for Purchase?

Yes, 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. Plan your homestead around Florida's dates: you must own and live in the home as your permanent residence on January 1, and you file by March 1.

Is there an extra property tax break for seniors in Orlando?

Possibly. Florida lets counties and cities offer an added exemption for some homeowners 65 and older with limited income. Ask the Orange County Property Appraiser.

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

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 asking your agent what it would cost.

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

• 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 voters to decide expanded homestead tax exemption amendment in November," Ballotpedia News, June 3, 2026: ballotpedia.org
• HUD Mortgagee Letter 2019-17, summarized by Hinshaw & Culbertson: hinshawlaw.com
• HUD, FHA Reverse Mortgage for Seniors (HECM): hud.gov