Reverse Mortgage Lenders in Tampa
Tap Into Your Home Equity With Confidence
At Associates Home Loan, we help mature homeowners across Florida access the value of their home through reverse mortgage loans without monthly mortgage payments or giving up ownership.
Whether you’re based in Tampa or elsewhere across the Sunshine State, we’re here to guide you toward financial goals and options that work for you in your retirement years.
What Is a Reverse Mortgage?
A reverse mortgage—also known as a Home Equity Conversion Mortgage (HECM)—allows senior homeowners to access the equity in their primary residence as tax-free cash. Instead of making monthly mortgage payments, the loan balance is repaid when you sell the home, move out, or pass away.
This is a strategic way to manage retirement income, cover home maintenance costs, or eliminate debt while staying in your home.
Reverse Mortgages Made Simple By Associates Home Loan
Associates Home Loan is not just any reverse mortgage lender in Tampa; we’re proud to say we are Florida’s mortgage experts. Our experienced loan specialists serve homeowners throughout the entire state.
We work with:
- Seniors with nontraditional or limited income
- Borrowers recovering from credit issues
- Homeowners looking to age in place with financial flexibility
You’ll get fast answers, personal guidance, and a process designed to make complex decisions easier. Every Florida property loan is reviewed with care and clarity.
The Freedom, Flexibility, and Financial Control of a Reverse Mortgage with Associates Home Loan
Who Should Consider a Reverse Mortgage?
Reverse mortgages aren’t necessarily focused on financial troubles; they’re for homeowners who want flexibility and control. If you’re a senior homeowner looking to stay in your home without making monthly payments, a retiree who needs extra income to cover daily expenses, or someone with significant home equity but limited cash flow, this loan could be a smart move.
It’s also worth considering if you’re facing costly home repairs or medical expenses, or if you’re comparing options like a home equity loan or line of credit and want something with fewer monthly obligations.
Reverse Mortgage Requirements
To qualify for a reverse mortgage, you must:
We’ll walk you through each requirement so you understand the full financial picture, including mortgage insurance premiums, servicing fees, and the eventual loan balance.
What Type of Reverse Mortgage Is Right For You?
There are three common reverse mortgage loan types. We’ll help you determine which is the best deal for your goals:
HECM (Home Equity Conversion Mortgage)
The most common type of reverse mortgage is insured by the federal government and available through approved lenders.
Proprietary Reverse Mortgages
Some borrowers may have needs that are not satisfied by a standard HECM. For those borrowers, proprietary reverse mortgages are available, sometimes referred to as jumbo reverse mortgages because they are often used for high-value homes.
Single-Purpose Reverse Mortgages
Typically offered by nonprofits or government agencies, these loans are limited in how the funds can be used, often for home repairs or property taxes.
How to Apply for a Reverse Mortgage in Florida
At Associates Home Loan, we make the process easy:
- Schedule a Free Consultation: Speak with a licensed AHL specialist to see if a reverse mortgage fits your financial needs.
- Complete HUD Counseling: Meet with an independent, HUD-approved counselor to explore the risks, alternatives, and benefits.
- Submit Your Application: We’ll gather documentation, review your credit score, and assess your financial stability.
- Property Appraisal and Underwriting: We evaluate your appraised value and ensure all financial requirements are met.
- Choose Your Preferred Disbursement and Close: You decide how you want to access funds: monthly payments, lump sum, or line of credit.
It’s that simple!
Take Control of Your Retirement Years
Find Out Your Reverse Mortgage Options Today
You’ve worked hard to build equity, and now it’s time to let that equity work for you. Whether you’re nearing retirement or already there, a reverse mortgage can offer a smarter, safer path forward.
When you work with Associates Home Loan, you’re working with a team that understands Florida’s housing market, property values, and lending laws inside and out.
Contact Associates Home Loan today to speak with a local expert who understands your goals and will help you make the right financial decision.
Serving The Greater Tampa Bay Area and Across Florida
Recently Closed Loans in Florida
| Credit Score | LTV | Loan Amount |
|---|---|---|
| 572 | 55% | $115,000 |
| Credit Score | LTV | Loan Amount |
|---|---|---|
| 452 | 57% | $335,000 |
| 495 | 17% | $30,000 |
| 522 | 38% | $85,000 |
| None | 36% | $145,000 |
| Credit Score | LTV | Loan Amount |
|---|---|---|
| 517 | 20% | $30,000 |
| 626 | 12% | $40,000 |
| Credit Score | LTV | Loan Amount |
|---|---|---|
| 591 | 53% | $285,000 |
| 727 | 60% | $575,000 |
| Credit Score | LTV | Loan Amount |
|---|---|---|
| 645 | 42% | $1,750,000 |
FAQs About Reverse Mortgages vs. Regular Mortgages
Yes. You maintain full ownership. The lender holds a lien, just like with a traditional mortgage.
Yes, but your existing mortgage must be paid off at closing, either with reverse mortgage funds or other means.
No. Because it’s considered a loan advance, it’s not taxable income.
Reverse mortgage income does not affect Social Security or Medicare, but it could impact need-based programs like Medicaid. Speak with a financial advisor to evaluate the full financial implications and impact.
Yes. You can use the money for home maintenance, medical bills, daily expenses, or other financial obligations.
The loan becomes due. Your heirs can sell the home, repay the balance, or refinance if they wish to keep it. You will have 6 months before the loan amount is due upon death.
