Jacksonville isn’t just Florida’s largest city by area, it’s one of the best places in the state to retire. With no state income tax, warm weather, and home values that have steadily risen over the years, it’s no surprise that more homeowners here are looking into reverse mortgages.
For many seniors in Jacksonville, a reverse mortgage offers a way to tap into the equity built up over decades, without having to sell or move. Whether you’re trying to cover medical bills, supplement your retirement income, or simply age in place more comfortably, reverse mortgages are becoming a serious option worth exploring.
In this guide, we’ll break down how reverse mortgages work, who qualifies, and which Jacksonville lenders stand out for their service, transparency, and expertise. Whether you’re in Riverside, Arlington, or the Beaches, this article is designed to help you make a smart, informed decision.
What Is a Reverse Mortgage and How Does It Work?
A reverse mortgage is a special type of loan for homeowners aged 62 and older. Instead of making monthly mortgage payments, you receive money from the lender, either all at once, over time, or as a flexible line of credit. The most common type is the Home Equity Conversion Mortgage (HECM), which is federally insured and regulated by the FHA.
Here’s the basic idea:
If you’ve built up significant equity in your home, a reverse mortgage lets you access that equity as cash, without having to sell the property. The loan doesn’t need to be repaid until the last borrower permanently leaves the home, sells it, or passes away.
Basic Requirements
To qualify, you’ll need to:
- Be at least 62 years old
- Live in the home as your primary residence
- Own your home outright or have a low remaining mortgage balance
- Maintain the property and keep up with taxes and insurance
How Do You Receive the Funds?
Reverse mortgage funds can be received in several ways:
- Lump sum: Get the money all at once (usually at a fixed interest rate)
- Line of credit: Withdraw only what you need, when you need it (grows over time)
- Monthly payments: Receive regular monthly deposits for a set term or for life
- Combination: Mix of line of credit and fixed payments
The money is not taxable, and it typically doesn’t affect Social Security or Medicare benefits.
When Do You Pay It Back?
You or your heirs won’t need to repay anything until:
- You move out of the home permanently
- You sell the home
- The last borrower passes away
At that point, the loan is usually paid off by selling the home. One important feature of HECM loans: they are “non-recourse,” meaning you (or your heirs) will never owe more than the home is worth, even if property values drop.
Is a Reverse Mortgage Right for You?
A reverse mortgage can be a powerful financial tool, but it’s not right for everyone. If you’re a homeowner in Jacksonville who’s nearing or already enjoying retirement, understanding when it makes sense (and when it doesn’t) can help you avoid costly mistakes.
When a Reverse Mortgage Makes Sense
Many Jacksonville seniors turn to reverse mortgages when they want to stay in their homes but need more financial flexibility. If any of the following apply to you, it might be worth considering:
- You have substantial equity in your home and want to access it without selling
- You plan to live in your home long-term and maintain it properly
- You’re on a fixed income and could use extra monthly cash or emergency funds
- You want to delay drawing Social Security or reduce withdrawals from retirement savings
- You don’t want to burden your children with financial obligations or want to give them their inheritance now, while you’re alive
Many homeowners use reverse mortgages to cover:
- Medical bills or long-term care
- Home upgrades for aging in place
- Paying off high-interest debt
- Travel or lifestyle needs during retirement
When It Might Not Be the Right Fit
On the flip side, a reverse mortgage may not be the best option if:
- You plan to move within a few years
- You have trouble keeping up with taxes, insurance, or home maintenance
- You want to leave your home to heirs debt-free
- Your spouse is under 62 and not listed on the loan
In Jacksonville, where neighborhoods like San Marco and Mandarin have strong home value appreciation, reverse mortgages can be especially beneficial, but they’re still a long-term commitment. Talking to a knowledgeable specialist can help you evaluate whether this type of loan truly fits your retirement plan.
What Makes a Great Reverse Mortgage Lender in Jacksonville?
Choosing the right reverse mortgage lender isn’t just about interest rates. For a major financial decision like this, you want a partner who understands your goals, respects your time, and has a track record of guiding Florida seniors through the process with care and clarity.
Here are a few things to look for when comparing lenders in Jacksonville:
1. Local Knowledge and Personalized Support
Jacksonville’s real estate market is unique. From oceanfront properties in Atlantic Beach to historic homes in Riverside, property values, and associated costs, can vary widely. A great lender will understand local nuances like:
- Florida-specific property tax exemptions for seniors
- Homeowners insurance requirements (especially in flood zones)
- Common zoning and property types in Northeast Florida
Working with a local or Florida-based lender can give you an edge, they’ll know the ins and outs of state regulations and provide support that’s actually relevant to your situation.
2. HUD Approval and Reverse Mortgage Specialization
Not all mortgage companies are authorized to offer HECM loans. Look for lenders that are HUD-approved and focus heavily on reverse mortgage services, not just as an add-on to traditional home loans.
Bonus points if they walk you through the required counseling and help you prepare documents ahead of time.
3. Transparency and Education
The best lenders aren’t just salespeople, they’re teachers. Look for providers that offer:
- Clear breakdowns of fees and repayment terms
- Straightforward rate information (no gimmicks or vague estimates)
- Guidance on when not to take a reverse mortgage
Avoid any lender that tries to pressure you into signing or glosses over key details like what happens when the loan becomes due.
4. Ongoing Service After Closing
A reverse mortgage isn’t a one-and-done deal. Your financial situation might change, or your heirs may have questions years down the road. Choose a lender that’s still around when you need them, whether that’s to explain the annual occupancy certification or assist your family in the loan payoff process.
Top 15 Reverse Mortgage Lenders in Jacksonville, FL
A Local’s Guide to Trusted Partners for Seniors
Whether you’re in Ortega, Arlington, or out in the Beaches area, finding the right reverse mortgage lender can make all the difference. The lender you choose will shape your experience, how informed you feel, how confident your family is, and ultimately, how well the loan fits your life.
Below are 15 of the most trusted reverse mortgage lenders serving the Jacksonville area. We looked at customer service, transparency, loan options, and experience working with Florida homeowners. And while there are several strong choices, one name stood out above the rest.
1. Select Home Loans , Best for Personalized Local Service
There’s something to be said about working with a company that knows Florida inside and out, and that’s exactly what you get with Select Home Loans. Unlike national giants, this team focuses exclusively on Florida borrowers, offering white-glove service with a personal touch.
What makes them #1 on our list?
- Direct access to reverse mortgage specialists (no call centers or hand-offs)
- In-depth understanding of Florida law, including property tax benefits and homestead rules
- Custom consultations: they’ll walk you through every option, every cost, and help you understand how the loan will work for you, not just now, but in the years to come
- Fast turnarounds on applications and quotes
They serve homeowners across Jacksonville, from San Marco to Mandarin, and understand the market nuances that national lenders often miss. Whether you’re downsizing, need help covering medical costs, or just want to unlock equity for retirement, Select Home Loans offers the kind of guidance and honesty you’d expect from a neighbor, not a sales rep.
📍 Based in Florida | ☎️ (888) 550-3296
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2. Mutual of Omaha Reverse Mortgage , Best for Nationwide Reputation
Mutual of Omaha is a name many retirees already trust, and for good reason. With decades of experience in insurance and lending, their reverse mortgage division is robust, reliable, and informative.
They offer:
- Fixed and adjustable HECMs
- Step-by-step application guidance
- Online calculators and learning tools
While their customer service is good, it may not feel as personal or Florida-specific as some smaller lenders. Still, if you want the comfort of a big brand, they’re a dependable choice.
3. Longbridge Financial , Best for Easy Applications and Low Fees
Longbridge Financial has made a name for itself by keeping things simple. They focus on low-pressure education and upfront pricing, making them ideal for seniors who want to fully understand what they’re signing up for.
Why Jacksonville homeowners like Longbridge:
- Clear cost breakdowns
- Fast pre-qualification
- Jumbo reverse options for higher-value properties (perfect for beach homes or golf communities)
4. AAG (American Advisors Group) , Best for Digital Tools and Videos
You’ve probably seen AAG’s commercials, but there’s more to them than just name recognition. They offer an entire learning center online, including webinars and comparison charts, which is great if you like to research your options thoroughly.
Highlights:
- One of the largest reverse mortgage lenders in the U.S.
- Known for consistent support teams
- Good for independent decision-makers
That said, some borrowers say their approach can feel a bit corporate. Still, if you’re tech-savvy and want resources at your fingertips, they deliver.
5. Finance of America Reverse (FAR) , Best for Flexibility and Innovation
Finance of America is often ahead of the curve. They offer flexible payment options, including line-of-credit reverse mortgages that grow over time, ideal for long-term financial planning.
Notable features:
- Competitive rates
- Tools to model various loan scenarios
- Friendly reps who don’t rush decisions
They’re not based in Florida, but they do a good job adapting to the local landscape.
6. Liberty Reverse Mortgage , Best for Seniors Who Want Options
Liberty Reverse Mortgage offers a broad set of reverse mortgage products, including HECM for Purchase (helpful if you’re planning to buy a new home and want to use a reverse mortgage for it).
Good for:
- Moving closer to grandkids while staying mortgage-free
- Seniors exploring all their housing options
7. Fairway Independent Mortgage , Best for Fast Processing
While Fairway isn’t a reverse-only lender, their team is known for speed and consistency. If you want your loan done quickly, they’re worth a call.
- Fast turnaround times
- Helpful for seniors on a tight timeline (e.g., moving or downsizing)
8. Open Mortgage , Best for Online-First Borrowers
Open Mortgage combines online tools with accessible service, making them a solid pick for semi-tech-savvy retirees who want a mix of digital and phone-based support.
Pros:
- Competitive pricing
- Convenient application process
9. Reverse Mortgage Funding LLC (RMF) , Best for Condo Owners
RMF often works with condo borrowers, which can be tricky under HECM rules. They understand the extra documentation and building eligibility issues common in Florida.
They also offer a “reverse mortgage calculator” tailored to Florida ZIP codes.
10. Quontic Bank , Best Boutique Bank Option
Quontic is a small bank, but they punch above their weight in reverse mortgage lending. If you like working with bankers instead of brokers, they provide that feel.
- Lower fees in some cases
- FDIC-insured backing
- Often available for in-person meetings
11. Nationwide Equities , Best for Customized Loan Structures
Nationwide Equities offers a boutique experience with the backing of a national lender. They specialize in tailoring reverse mortgage solutions to unique financial needs, whether you’re planning for travel, in-home care, or helping family members.
Why they’re on this list:
- Strong reputation among financial advisors
- Flexible payout structures
- Good communication during and after the loan process
12. Sun American Mortgage , Best for Seniors with Complex Portfolios
If your financial situation involves trusts, retirement accounts, or investment properties, Sun American is well-versed in working with high-net-worth seniors.
Strengths:
- Hands-on underwriters
- Knowledgeable about combining reverse mortgages with estate planning
- Helpful for snowbirds with multiple properties
13. HighTech Lending , Best for Veteran Borrowers
Although they offer services to all seniors, HighTech Lending has experience helping military veterans in Florida navigate reverse mortgages alongside VA benefits.
What sets them apart:
- Veteran-specific guidance
- Personalized loan strategies for households with mixed income sources
- Access to educational seminars (virtual and in-person)
14. Premier Reverse Mortgage , Best for Transparency
Premier is a smaller lender known for being upfront about all fees and timelines. Their approach is ideal for seniors who want to know exactly what they’re signing.
Customer feedback highlights:
- No high-pressure tactics
- Extremely clear closing costs
- Regular communication with clients and their families
15. Community First Credit Union (Jacksonville-Based) , Best Local Credit Union Option
Community First isn’t a traditional reverse mortgage lender, but their local partnerships allow them to connect members with trusted reverse mortgage programs. For longtime Jacksonville residents who value working with a credit union, they’re worth contacting.
Benefits include:
- Local offices for in-person conversations
- Strong community reputation
- May help coordinate services with Select Home Loans or other reverse specialists
What to Look for in a Reverse Mortgage Lender
Choosing the right reverse mortgage lender isn’t just about interest rates. It’s about trust, service, and ensuring that your financial future is in good hands, especially when you’re unlocking the equity in your home. Here are the top factors to consider when comparing reverse mortgage lenders in Jacksonville:
Local vs. National Lenders
Local lenders like Select Home Loans tend to offer more personalized service. You can speak directly to a loan specialist who knows the Jacksonville area, from Riverside to San Marco to the beaches. They’re familiar with regional property values, local regulations, and even tax advantages that may apply to Florida homeowners.
National lenders like Mutual of Omaha or AAG may offer more loan programs or digital tools, but you’ll likely be speaking with call center reps instead of one consistent advisor. If face-to-face meetings or local expertise matter to you, a Florida-based team may be the better fit.
HUD-Approved and FHA-Certified
Always make sure your lender is HUD-approved to offer HECM (Home Equity Conversion Mortgage) products. These are federally insured reverse mortgages with important consumer protections. A lender that doesn’t carry this approval may offer proprietary loans, but those aren’t always ideal for average homeowners.
You can search for approved lenders on the HUD.gov lender list.
Types of Reverse Mortgages Offered
The best lenders offer multiple reverse mortgage options:
- Standard HECMs (the most common)
- HECM for Purchase (to buy a new home using a reverse mortgage)
- Proprietary “jumbo” reverse mortgages (for high-value homes)
If your home is worth more than FHA limits allow, or you’re looking to downsize, make sure the lender you’re working with has access to flexible products.
Support During and After Closing
A reverse mortgage is not a one-time transaction. You’ll want a lender that’s still available to help after the closing, whether that’s answering questions about payouts, coordinating property taxes and insurance, or helping your heirs navigate the loan later on.
Ask:
- Who will be my point of contact throughout the process?
- What happens if I need help next year or five years from now?
- Do you offer annual check-ins or loan reviews?
Companies like Select Home Loans pride themselves on long-term support, while some national players are more transactional in nature.
Florida-Specific Advice for Reverse Mortgages
Florida has one of the highest populations of retirees in the country, and reverse mortgages are especially popular here. But living in the Sunshine State also comes with some unique financial considerations. Before you sign with any lender, make sure you understand these Florida-specific factors:
Property Tax Exemptions for Seniors
Florida offers several tax breaks for older homeowners, especially those over 65. Some counties, including Duval County (home to Jacksonville), provide additional exemptions based on income and age.
If you’re planning to use your reverse mortgage for living expenses, these exemptions can help stretch your funds even further. However, you must continue paying your property taxes and insurance to stay in good standing with your loan, your lender will likely check that annually.
Insurance Costs Can Affect Eligibility
Florida’s insurance premiums, especially for wind and flood coverage, can be high depending on your home’s location. Reverse mortgage lenders will factor your insurance costs into the loan eligibility calculation.
Make sure you:
- Know whether your home is in a flood zone
- Understand if you’ll need windstorm coverage
- Have up-to-date homeowners insurance in place
Tip: Working with a Florida-based lender like Select Home Loans means you’ll get help evaluating your insurance situation early, so there are no surprises later.
Condo Eligibility Can Be Tricky
If you live in a condo, check if the entire building is FHA-approved, not just your unit. Many Florida condos, especially older ones, don’t meet FHA guidelines due to reserve funding, insurance coverage, or structural issues.
Some lenders, like Select Home Loans and Mutual of Omaha, offer proprietary reverse mortgage products that don’t require FHA approval, but terms and fees may vary.
Choosing Line of Credit vs. Lump Sum
Florida borrowers often favor the line of credit option. Here’s why:
- It grows over time (based on interest rate increases)
- You only pay interest on the amount you actually use
- It provides emergency flexibility for medical or home repair needs
A lump sum may be more suitable if you need to pay off an existing mortgage or have a large one-time expense. Your lender should help you compare these strategies side by side.
Final Thoughts + Call to Action
Reverse mortgages aren’t for everyone, but for many Florida homeowners, they offer a powerful way to turn home equity into financial freedom. Whether you’re looking to supplement retirement income, pay for medical expenses, or simply enjoy life without the burden of a monthly mortgage, this financial tool can provide peace of mind.
But not all lenders are created equal. As you’ve seen throughout this guide, your choice of lender can impact everything from the fees you pay to the flexibility of your payout options, and the kind of support you receive along the way.
If you’re in Jacksonville or anywhere in Florida and are ready to explore your options, we strongly recommend starting with a trusted, local expert. Call us (888) 550-3296 or fill out or contact form today!
Talk to Florida’s Trusted Reverse Mortgage Team
Select Home Loans has helped countless Florida seniors make smart, confident decisions about their financial future. With local offices, HECM specialists, and no-pressure consultations, they’re the go-to reverse mortgage lender in the state.
