Specializing in Florida Real Estate
Specializing in Florida Real Estate

Reverse Mortgage Loans

Home Equity Conversion Mortgage (HECM)


If you are a homeowner age 62 or older and have paid off your mortgage or paid down a considerable amount, and are currently living in the home, you may participate in FHA's Home Equity Conversion Mortgage (HECM) program.  The HECM provides a way to improve quality of life by eliminating mortgage payments and/or providing additional monthly cash to the homeowner.  If you simply would like to have more control over your financial affairs and the ability to stay in your home longer, a reverse Mortgage might be just the answer.  HECM loans can be used for your current home, or the purchase of a new home.


  • Equity Required:  Typically a minimum of 60%. 
  • Credit Scores:  Acceptable credit history is required to avoid an escrow reserve set-aside
  • Loan Limits:  Up to $625,500
  • Occupancy:  Owner occupied only


Reverse Mortgage Purchase


Utilizing a reverse mortgage you can purchase a new home with no required monthly mortgage payment.  Here are some things to consider about this loan:

  • Buy a new principal residence and obtain a reverse mortgage in a single transaction. Streamline home buying transaction and cut cost.
  • Down Payment is determined by the youngest borrower.  The older that person is, the less the borrower potentially needs to put down.
  • Your are not required to repay the loan until it becomes due and payable (Ex: if you move, sell the property, or pass away). 
  • No more mortgage payments! Just pay property taxes, insurance, fees, and home maintenance costs.
  • Eligible for Single Family Homes, Town Homes, Condominiums, FHA-Approved mobile or Manufactured Homes.


Services Provided by: Giles Wardian (407) 963-1151

Licensed Mortgage Specialist NMLS #349296

Florida Mortgage Providers, Inc. NMLS #

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