Seminole County Florida Reverse Mortgage

Your Seminole County Reverse Mortgage Guide

Welcome to Seminole County

If you are a Seminole County homeowner aged 62 or older, you may be eligible for a reverse mortgage loan. This type of loan allows you to access your home’s equity without making monthly payments. Instead, the loan is repaid when you sell the home or pass away. Reverse mortgage loans can provide financial support and security for seniors in Seminole County, allowing them to age in place and enjoy the comfort and familiarity of their own homes. Don’t let your hard-earned equity go to waste – consider a reverse mortgage loan and see how it can benefit you and your family in retirement.

Reverse Mortgage

Explore the possibilities of a Reverse Mortgage! Free yourself from worrying about monthly bills and take back control of your financial future. With a Reverse Mortgage, you can unlock the power of your home’s equity while maintaining ownership of your home. Find out today how you can start on the road to financial freedom.

Learn More about a Reverse Mortgage

Reverse Mortgage for Purchase

Did you know you can use a reverse mortgage to purchase a new home? A reverse mortgage for purchase allows seniors to buy a new home without making any monthly mortgage payments. Instead of getting an upfront lump sum payment like other reverse mortgages, the loan is used to purchase a new primary residence.

Learn More about a Reverse Mortgage for Purchase

HECM to HECM Refinance

A HECM (Home Equity Conversion Mortgage) to HECM refinance, also known as a HECM loan refinance, is a type of reverse mortgage that allows a borrower to refinance an existing HECM loan with a new one. This can be beneficial for several reasons, such as lowering your interest rate, changing the loan terms, accessing additional equity, and improving your financial situation.

Learn More about a HECM to HECM Refinance

Cash Out Reverse Mortgage

A Reverse Mortgage allows you to take cash out of your house and use the equity in your home for the things you want. You can receive your cash as a lump sum, fixed monthly payment, or line of credit.

Learn More about a Cash Out Reverse Mortgage

Jumbo Reverse Mortgage

A Jumbo Reverse Mortgage is a reverse mortgage that allows homeowners to borrow more money than allowed with a traditional HECM reverse mortgage. This is because a Jumbo Reverse Mortgage is not limited by the same lending limits set by the Federal Housing Administration (FHA) for standard HECM loans. With a Jumbo Reverse Mortgage, you can access more of the equity in your high-value home.

Learn More about a Jumbo Reverse Mortgage

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Seminole County Approved Reverse Mortgage Counseling Agencies

HUD Approved HECM Counseling Agencies

The following is the internet website address and telephone number provided by HUD for the purposes of acquiring HECM counseling:

National Counseling Agencies

ClearPoint Financial Solutions
(800) 251-2227
https://www.clearpoint.org/

Money Management International
(877) 908-2227
https://www.moneymanagement.org/

Credit.org
(800) 947-3752
https://www.homeownership.org/

National Foundation for Credit Counseling
(866) 698-6322
https://www.nfcc.org/

Greenpath
(888) 860-4167
https://www.greenpath.com/

Navicore
(866) 855-7736
https://navicoresolutions.org/

Guidewell Financial Solutions
(800) 882-6171
https://www.guidewellfs.org/

NeighborWorks America
(202) 760-4000
https://www.neighborworks.org/

Housing Options Provided for the Elderly (HOPE)
(844) 432-6467
https://hopeforseniorsstl.org/

Florida Counseling Agencies

Seminole County Florida Frequently Asked Questions

How does a Reverse Mortgage work in Seminole County Florida?

A reverse mortgage in Seminole County, Florida, works similarly to a reverse mortgage in other parts of the country. The basic principle is that it allows homeowners 62 years of age or older to borrow money against the equity in their home without having to make monthly payments. Instead, the loan becomes due when the borrower moves out of the house permanently, sells the home, or passes away.

To obtain a reverse mortgage in Seminole County, Florida, the borrower must meet with a reverse mortgage lender and go through a counseling session to ensure that a reverse mortgage is a suitable choice for them. The lender will also appraise the home to determine its value and the amount the borrower is eligible to borrow.

Do I make mortgage payments on my Reverse Mortgage in Seminole County?

No, you do not have to make payments on your reverse mortgage. You are still obligated to pay your property taxes, homeowners insurance, general home maintenance and upkeep, and any HOA fees, if applicable. The benefit of a reverse mortgage is that you do not have to make a regular monthly mortgage payment.

What qualifies for a reverse mortgage in Seminole County?

A reverse mortgage loan is only available to seniors who are age 62 or older. This type of loan has been designed to help provide a solution to allow seniors access to equity in their homes while still living there. To qualify for a reverse mortgage, you must:

  • The youngest borrower on the loan must be 62 years old or older
  • Having an existing mortgage loan balance is OK as long as there is sufficient equity in the home
  • It must be your primary residence, not rental homes or vacation homes
  • Reverse mortgage loans are available as refinance or purchase loans.

How do I receive my money when I get a reverse mortgage?

With a Reverse Mortgage, borrowers have the flexibility to choose how they want to receive their loan proceeds. This can include receiving the funds in one lump sum, periodically accessing them through a line of credit, receiving regular monthly payments, or a combination of these options. Speak with a licensed Reverse Mortgage Lender to discuss your options.

About Seminole County Florida

Welcome to Seminole County, Florida! This vibrant county is located in the heart of Central Florida and is home to over 450,000 residents. The county was founded in 1913 and has a rich history that dates back to the Seminole Indians who first inhabited the area.

Today, Seminole County is a great place to visit and live. There are plenty of activities to keep you entertained, including local parks, community centers, and even a few museums. The county is also home to some of the best schools in the state, so if you're looking for a great place to raise a family, Seminole County is the perfect place.

Whether you're looking for a fun weekend getaway or a place to call home, Seminole County has something for everyone. From its beautiful beaches to its lush parks, Seminole County is a paradise for outdoor enthusiasts. And with its vibrant culture and diverse population, Seminole County is a great place to explore and experience all that Florida has to offer. So come on down and experience Seminole County for yourself!

Things To Do In Seminole County

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Top Sights in Seminole County, FL


Central Florida Zoo & Botanical Gardens

Little Big Econ State Forest

Cranes Roost Park

Black Bear Wilderness Area

Lake Lotus Park

Lake Jesup

Seminole Wekiva Trail

Cross Seminole Trail

Big Tree Park - Cross Seminole Trailhead

Planet Obstacle - World's Largest Indoor Obstacle Park

Seminole Aerial Adventures

Spring Hammock Preserve

Fort Mellon Park

Paddleboard Orlando

Sanford Riverwalk

Center Lake Park

Museum of Seminole County History

Lake Concord Park

Secret Lake Park

Katie's Landing at Wekiva River

Econ River Wilderness Area

Wharton-Smith Tropical Splash Ground

Oviedo on the Park

Aiguille Rock Climbing Center

Reiter Park

Wekiwa Springs State Park

Paw Park of Historic Sanford

Lukas Nursery & Butterfly Encounter

Central Winds Park

Rebounderz Orlando - Indoor Trampoline and Adventure Park

Goldsboro Museum

Trotwood Park

Lake Mary Museum

Gallery on First

Casselberry Golf Club

Jeanine Taylor Folk Art

Bear Creek Nature Trail

Elev8 Fun

Geneva Wilderness Area

Pawmosa Dog Park

Trailblazer Park

Little Wekiva River

Lake Monroe Wayside Park

Wirz Park

Boombah Sports Complex

Westmonte Park

Lake Mills Park

Lake Monroe

Rock Springs Run Wildlife Management Area

Congo River Golf

Red Bug Lake Park

Bradlee-Mc Intyre House

Torcaso Park

Sanford Museum

Black Bear Wilderness Trailhead

Sanlando Park

Lake Jesup Conservation Area

Lake Proctor Wilderness Area

Overlook Park

Wilson's Landing Park

Casselberry Greenway Trail

Lake Jesup Wilderness Area

Candyland Park

Casselberry Art House

Sylvan Lake Park

Greenwood Lakes Park

Seminole Wekiva Trail - San Sebastian Trailhead

Chuluota Wilderness Area

Wekiva Outfitters

Belle City Amusement

Black Hammock Wilderness Area

Eastmonte Park

Hindu Society of Central Florida

Friendship Park

Soldiers Creek Park

Lake Lotus

Mullet Lake Park

Merrill Park

Shane Kelly Park

Annunciation Catholic Church

Lake Mary Farmer's Market

Veterans Memorial Park

Lake Harney Wilderness Area

Cranes Roost

Lake Orienta

Park on Park

Groveview Park

Centennial Park

Lee P. Moore Park

Ed Yarborough Nature Center

C.S. Lee Park

Kewannee Park

Arbor Dog Park

Hermits Trail Park

Liberty Park

Solary Park

Mike Kirby Park

Round Lake Park

Sabal Point Sanctuary

Lake Brantley

Reverse Mortgage Regulations

HUD – The United States Department of Housing and Urban Development is one of the executive departments of the U.S. federal government. It administers federal housing and urban development laws. They state, “Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is a Home Equity Conversion Mortgage (HECM) which is only available through an FHA-approved lender. The HECM is FHA’s reverse mortgage program that lets you withdraw a portion of your home’s equity.”

Consumer Finance Protection Bureau – The Consumer Financial Protection Bureau is an agency of the United States government responsible for consumer protection in the financial sector. They state, “A reverse mortgage is a special type of home loan only for homeowners who are 62 and older. With a reverse mortgage, the amount the homeowner owes goes up–not down–over time.”

NMSL – The Nationwide Multi-State Licensing System and Registry is the record system for non-depository financial services licensing.

NRMLA – The National Reverse Mortgage Lenders Association (NRMLA) is a professional association that serves as an educational resource for the Reverse Mortgage community. The NRMLA was established in 1997 to promote professionalism and provide support and guidance to lenders and education borrowers. In addition, they prioritize educating consumers on the advantages and disadvantages of obtaining a reverse mortgage, ensuring borrowers make informed decisions.  They also provide training for mortgage professionals, enforce a code of ethics, and advise policymakers on reverse mortgage issues.

Reverse Mortgage Lenders near Seminole County

Call us for a free, no-obligation consultation about your Reverse Mortgage options. One of our licensed professionals will answer your questions without the hassle of a sales pitch. You’ll learn what programs you may qualify for and discover the best options that will suit your situation.

We are proud to serve the residents of Seminole County. We have been in the mortgage lending business since 2002 and would be happy to provide additional testimonials and references to clients we have worked with. We look forward to serving you and welcome the opportunity to meet and discuss your individual needs.

Reverse Mortgage Resource Center
Phone: 385-503-2224

Reverse Mortgage Resource Center – Seminole County

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REVERSE MORTGAGE RESOURCE CENTER ~lIVE lIFE ON yOUR tERMS~


Our Lending Team has been serving our clients since 2004. We are passionate about serving our clients with integrity to help them achieve their financial goals.