Retirement in Miami offers sunshine, ocean breezes, and vibrant communities, but it also comes with rising living costs, high property insurance, and financial uncertainty for many seniors. For Miami homeowners aged 62 and older, a reverse mortgage can offer a practical solution: converting home equity into accessible, tax-free cash while continuing to live in your home.
The challenge? Not all reverse mortgage lenders are the same. Some are national giants that treat you like a number. Others lack the local insight to guide you through Miami-specific challenges like flood zone insurance, condo eligibility, and property tax issues.
That’s why we created this guide, highlighting 15 of the most reputable reverse mortgage lenders in Miami. Whether you’re looking for hands-on service, bilingual support, or a custom line-of-credit option, you’ll find the right fit here.
We’re proud to name Select Home Loans as our #1 pick for 2025. As a Florida-based provider, their team doesn’t just understand reverse mortgages, they understand Miami.
What Is a Reverse Mortgage, and How Does It Work in Miami?
A reverse mortgage is a loan designed specifically for homeowners aged 62 or older. Instead of making monthly mortgage payments, you receive funds, either as a lump sum, monthly payments, or a line of credit, while still owning and living in your home. The loan is repaid only when you move out, sell the home, or pass away.
In Miami, where property values tend to be higher than the national average, reverse mortgages can unlock significant equity. This extra income can help cover everything from healthcare to home repairs, especially in a city where inflation and insurance costs hit hard.
Here’s what makes a reverse mortgage different:
- No monthly mortgage payments required
- Borrowers remain homeowners and retain title
- Funds can be used however you choose
- Loan repayment is deferred until the home is sold or the borrower leaves
Most reverse mortgages are Home Equity Conversion Mortgages (HECMs), backed by the Federal Housing Administration (FHA). These loans come with built-in protections like non-recourse clauses (you’ll never owe more than the home’s value) and mandatory counseling to ensure seniors fully understand the commitment.
In Miami, reverse mortgages are especially popular in neighborhoods like Kendall, Coral Gables, and North Miami Beach, where long-time homeowners have built up significant equity over the decades.
Top 15 Reverse Mortgage Lenders in Miami
These are the companies Miami homeowners trust when it’s time to unlock the value of their homes.
1. Select Home Loans – Best Overall for Miami Seniors
If you want personalized service from a team that knows Florida inside and out, look no further than Select Home Loans. Headquartered in the state and serving homeowners across Miami-Dade, Select specializes in helping seniors navigate the reverse mortgage process from start to finish.
They offer:
- One-on-one consultations (no call center runaround)
- Spanish-speaking team members
- Deep experience with Miami condo approvals
- Quick, pressure-free quotes
- Help with choosing the right loan structure (lump sum, line of credit, etc.)
Whether you’re in Coral Gables, Hialeah, Brickell, or Kendall, Select Home Loans understands the local market and what Florida homeowners need. They’re also proactive about walking clients through required HUD counseling, helping with documentation, and making sure all questions are answered before moving forward.
👉 Call us (888) 550-3296 or contact Select Home Loans today for a fast, free quote tailored to your situation.
2. Mutual of Omaha Reverse Mortgage
With a name you already trust, Mutual of Omaha brings credibility and nationwide experience to reverse mortgages. Their Miami-area team is knowledgeable and offers both fixed and adjustable-rate HECMs. They also offer a robust educational library, which is great if you want to fully understand your options before committing.
Highlights:
- Nationwide reputation with strong financial backing
- Clear explanations of loan options
- Flexible payment structures
- Offers in-person or virtual consultations
3. Longbridge Financial
Longbridge has built a strong reputation for transparency and efficiency. While they aren’t Miami-based, they’ve become a popular choice in Florida due to their focus on simplifying the process. Their customer service gets high marks, and they offer proprietary (jumbo) reverse mortgages for higher-value homes.
What makes them stand out:
- Transparent fee structure
- Online tools and calculators
- Jumbo reverse mortgage options
- Step-by-step onboarding process
4. AAG (American Advisors Group)
AAG is one of the most recognized names in reverse mortgages, and they’ve earned their spot by helping thousands of seniors nationwide. Their commercials might be national, but they do have licensed loan officers familiar with the Miami market.
What to know:
- Huge educational resource library
- Well-staffed support team
- Not as locally tailored as smaller firms
- Best for people who like lots of options and nationwide experience
5. Finance of America Reverse (FAR)
FAR is known for its innovative line-of-credit products and strong tech tools. For Miami homeowners interested in flexibility or digital convenience, they offer a compelling experience.
Why they’re worth a look:
- Excellent online tools
- Competitive rates on credit-line options
- Offers educational support, including webinars
- May lack the hands-on, personal service of smaller providers
6. Open Mortgage
Open Mortgage has a solid reputation in Florida for combining tech tools with attentive customer care. They also offer in-person appointments in some parts of Miami-Dade and a good understanding of local property values.
What makes them unique:
- Offers both HECMs and proprietary products
- Flexible communication (in-person, phone, or digital)
- Understands Florida’s property tax structure and insurance challenges
7. Liberty Reverse Mortgage
Liberty is another lender with a national presence and reliable service. They provide plenty of resources for first-time reverse mortgage borrowers and have teams that specialize in retirement planning.
Why Miami homeowners consider Liberty:
- Simple, step-by-step loan process
- Variety of options
- Trusted by many financial advisors for seniors
- Not based in Florida, but works with Miami residents regularly
8. Nationwide Equities
While their name suggests a national approach, Nationwide Equities has carved out a local following in Miami. They’re known for working closely with financial planners and estate attorneys, making them a solid choice if you’re approaching this from a long-term planning perspective.
Why consider them:
- Personalized planning support
- Solid reverse mortgage education tools
- Offers both standard and jumbo HECMs
- Competitive rates with flexible payout options
9. HomeBridge Financial Services
HomeBridge offers reverse mortgages through their network of local loan officers, including a few based in South Florida. They’re a good pick for someone who prefers working with a company that also does conventional and refinance loans, helpful if you’re weighing all your retirement financing options.
Key strengths:
- Broad loan offerings beyond just reverse mortgages
- Some loan officers specialize in condo eligibility (important in Miami)
- Friendly, no-pressure sales process
- More accessible than some larger providers
10. All Reverse Mortgage, Inc.
This smaller, boutique reverse mortgage lender operates exclusively in the reverse mortgage space, and that’s a good thing. Their expertise runs deep, and they focus on keeping the process simple and easy to understand, even if you’ve never taken out a loan before.
Why locals like them:
- Reverse mortgage only, no distractions
- Low-pressure approach
- Transparent fees and strong customer reviews
- Not based in Florida but serves Miami well via remote consultations
11. Fairway Independent Mortgage
Fairway has built a name for offering strong customer service across many types of loans, including reverse mortgages. They have a physical presence in Florida and teams that understand the unique nuances of local property taxes, hurricane insurance, and aging-in-place needs.
What sets them apart:
- Strong in-person support if preferred
- Good reputation for senior-focused lending
- Often praised for fast processing and clear answers
- Flexibility in loan customization
12. Reverse Mortgage Funding LLC (RMF)
Although RMF recently scaled back operations, they remain an option through broker networks. In Miami, some local agents still work with RMF products, especially for clients seeking proprietary jumbo loans for high-value properties.
Why they’re still on the radar:
- Specialized jumbo reverse mortgages
- Flexible draw options
- May not offer direct servicing, so ideal for broker-assisted clients
- Works best for upscale homeowners or those in luxury condos
13. HighTechLending (Reverse Mortgage Division)
Don’t let the name fool you, this lender combines modern convenience with experienced reps who truly understand reverse mortgage rules. While based in California, they’ve served many Florida residents via phone and video.
Highlights:
- Fast online processing and applications
- Highly rated customer service
- Good for tech-savvy seniors
- May lack the deep Miami-specific experience of local lenders
14. Advisors Mortgage Group
This East Coast lender has a growing presence in Florida and offers reverse mortgage support through its retirement lending division. They’re known for patient, long-term advisors who walk you through every stage of the process.
Why Miami homeowners give them a chance:
- East Coast sensibility with Florida experience
- Willing to work with complex property types
- May offer hybrid loan options and creative structuring
15. The Val-Chris Group
While not a household name, Val-Chris has quietly developed a solid reputation for no-frills reverse mortgage lending. Their local Miami partners often refer clients here when they want a simple, quick, and compliant HECM loan.
What to know:
- Smaller, boutique feel
- Lower volume, higher service
- Especially helpful for fast-closing scenarios
- Focused on meeting court or estate planning timelines
What to Look for in a Reverse Mortgage Lender in Miami
Choosing a lender is more than just comparing rates, it’s about peace of mind and finding someone who understands your specific goals and circumstances.
Local vs. National Lenders
Working with a Miami-based lender often means you’ll get faster answers to local questions, like property tax breaks for seniors, hurricane insurance requirements, or condo eligibility. National lenders may offer better rates but may lack personal touch.
HUD Approval
Make sure your lender is HUD-approved and compliant with federal reverse mortgage regulations. This protects you and ensures the loan meets FHA standards.
Support During and After Closing
A reverse mortgage doesn’t end at closing. Choose a lender that offers ongoing service, whether it’s helping update your documents, explaining payout timelines, or coordinating with your heirs later on.
Types of Reverse Mortgages Offered
Some lenders only offer the standard HECM loan, while others provide jumbo or proprietary options. It’s worth understanding your full range of options before deciding.
Florida-Specific Advice for Reverse Mortgage Borrowers
Miami isn’t just sunny, it comes with unique financial and real estate quirks that affect your reverse mortgage experience.
1. Understand Property Tax Exemptions and Home Insurance Costs
Florida offers generous homestead exemptions that can lower your property tax bill, especially for seniors. Be sure to ask your lender how your reverse mortgage might interact with these exemptions.
Also, home insurance in South Florida is notoriously high due to hurricanes and flooding risks. Many reverse mortgage lenders will require a clear plan for keeping insurance active throughout the loan. Failing to maintain proper coverage could trigger foreclosure, so plan accordingly.
2. Know the Rules Around Condo Eligibility
If you live in a condo, things get a little more complicated. Not all buildings in Miami are FHA-approved, which is required for most HECM loans. Work with a lender who understands the nuances of condo approvals, or can help you pursue proprietary options that don’t require FHA approval.
3. Choose the Right Payout Option: Lump Sum vs. Line of Credit
Florida retirees often opt for a line of credit because it grows over time and can serve as a flexible backup fund. Others take a lump sum to pay off debt or make home upgrades. Make sure your lender breaks down the pros and cons of each based on your goals, budget, and lifestyle.
Choosing the Right Reverse Mortgage Partner in Miami
You’ve got plenty of choices, but the right one depends on more than interest rates. A good reverse mortgage partner will offer education, local insight, and honest advice without the hard sell.
Whether you’re still exploring options or ready to take the next step, Select Home Loans stands out as the top choice for Miami homeowners. With personalized service, local expertise, and a reputation built on trust, they’re ready to help you navigate your reverse mortgage journey with confidence.
📞 Ready to Learn More?
Visit SelectHomeLoans.com or call (888) 550-3296 to schedule a no-pressure consultation with a reverse mortgage specialist today. You’ve worked hard for your home, now let it work for you.
