Navigating retirement can be tricky, especially when the cost of living keeps rising. For many homeowners in Palm Bay, a reverse mortgage offers a way to tap into home equity without giving up the place they love most: their home. But finding the right lender? That’s where it gets challenging.
Palm Bay may not be a sprawling metropolis, but it has a handful of standout reverse mortgage providers that truly understand the needs of Brevard County retirees. Whether you’re looking for a Home Equity Conversion Mortgage (HECM) or a jumbo reverse mortgage, local service still matters.
Here are the top reverse mortgage lenders in Palm Bay for 2025, starting with a trusted favorite.
1. Select Home Loans, Best Overall Reverse Mortgage Lender in Palm Bay
Website: SelectHomeLoans.com
Phone: 888-550-3296
Select Home Loans earns the top spot on our list for a reason. They aren’t just licensed in Florida, they specialize in Florida, and that local focus makes all the difference. With a team that’s deeply familiar with Brevard County regulations and the unique needs of Florida seniors, Select Home Loans offers the kind of service that’s hard to find in larger institutions.
What sets them apart is their personal touch. Unlike big banks, Select Home Loans assigns you a dedicated HECM specialist who walks you through every step, from education to application to closing. They even help coordinate counseling and make sure you’re fully informed before signing anything.
Their offerings include:
- HECM (FHA-insured reverse mortgages)
- Jumbo reverse mortgages for high-value properties
- Line-of-credit and lump sum options
- Fast pre-qualification and no-pressure consultations
If you’re in Palm Bay or anywhere along Florida’s east coast, Select Home Loans offers a combination of local expertise and national-quality resources. It’s easy to see why they remain a top choice for reverse mortgages in Florida.
2. Reverse Mortgage Funding LLC (RMF) – Trusted National Lender with Local Roots
Local Presence: Serves Palm Bay and Brevard County through Florida-based loan officers
Reverse Mortgage Funding (RMF) may be a national name, but they’ve long had boots on the ground in Palm Bay. Their Florida loan officers bring a solid understanding of local property values, zoning laws, and homeowner needs, something that truly matters when you’re dealing with reverse mortgage underwriting.
RMF offers a broad lineup of reverse mortgage products, including:
- HECM Standard
- HECM for Purchase (ideal for those downsizing in retirement)
- Equity Elite for high-value homes (jumbo reverse)
What’s especially helpful about RMF is their educational approach. They provide in-depth resources, comparison tools, and even calculators on their website, making it easier for first-timers to understand the pros and cons before moving forward.
Palm Bay homeowners consistently rate their service highly for clarity and professionalism. And because they have multiple reps throughout Florida, it’s relatively easy to find a loan officer who knows the Space Coast region.
3. American Advisors Group (AAG) – Largest Reverse Mortgage Lender in the U.S.
Local Rep Access: Florida-based agents serving Palm Bay
AAG is probably the most recognized name in reverse mortgages thanks to years of national advertising, but their presence in Florida is more than surface level. They’ve got a deep network of loan officers across the state, and Palm Bay residents can easily connect with a local specialist.
What they offer:
- FHA-insured HECM loans
- Proprietary reverse mortgage options for higher-value homes
- Strong educational resources including webinars, guides, and videos
Where AAG shines is experience. They’ve helped tens of thousands of seniors access equity and have a long track record of navigating complex cases. However, some borrowers have noted that the experience can vary depending on the individual loan officer.
If you prefer a highly structured, well-known provider, and don’t mind that “big bank” feel, AAG is worth a look.
4. South River Mortgage – Florida-Based and Reverse Mortgage Focused
Headquarters: Boca Raton, FL – Serves Palm Bay and surrounding areas
South River Mortgage is a Florida-headquartered lender that specializes exclusively in reverse mortgages, making them a smart choice for Palm Bay residents looking for experienced guidance with a local edge.
What sets them apart:
- Sole focus on reverse mortgages, no distractions
- Licensed throughout Florida with local advisors available for Brevard County
- Personalized guidance from application to closing
Their team works with both HECM and jumbo reverse mortgage options, and they’re particularly helpful for retirees looking to age in place or supplement fixed income. South River takes the time to walk homeowners through every option and requirement, no hard sales or pressure tactics.
Palm Bay clients appreciate the clear communication and the fact that they’re not treated like a number. With a team that knows the ins and outs of Florida’s retirement landscape, they’re a great alternative to the national giants.
5. Mutual of Omaha Mortgage – Reverse Mortgage Division
Local Advisor Network: Available in Central Florida, including Palm Bay
Mutual of Omaha has a long-standing reputation in the insurance world, but their mortgage division has been making waves in the reverse mortgage space, especially in Florida. They have dedicated reverse mortgage professionals servicing the Palm Bay area, and the company brings financial stability and reliability to the table.
What they offer:
- HECM and HECM for Purchase
- Financial assessment tools and retirement planning integration
- Experienced support teams and smooth application process
Their process is a bit more traditional, which some homeowners prefer, particularly those who like structured steps and want to talk through options before making decisions. Mutual of Omaha also stands out for integrating financial planning elements into the reverse mortgage conversation, which can be a game changer for seniors looking to stretch their retirement income.
6. HECM Advisors Group – Palm Bay-Focused Reverse Mortgage Counseling
Service Area: Palm Bay and greater Brevard County
HECM Advisors Group may not be a household name, but in the Palm Bay area, they’re known for offering white-glove service specifically to seniors exploring home equity conversion. They’re not just loan officers, they’re strategic advisors.
Why they’re worth considering:
- Dedicated to reverse mortgage education, not just transactions
- Advisors available for in-home consultations or local meetings
- Clear breakdown of FHA requirements, timelines, and long-term scenarios
If you’re unsure whether a reverse mortgage is the right move, or just want a second opinion, they’re one of the few groups that actually sit down with you, evaluate your full financial picture, and explain all your options. Their low-pressure, education-first approach is what earns them praise from Palm Bay residents and their families.
7. Advisors Mortgage Group – Local Presence in Central Florida
Florida Office: Active throughout East Central Florida including Palm Bay
Advisors Mortgage Group is a regional lender with a strong presence in Florida, especially across the Atlantic coast. While not headquartered in Palm Bay, their local mortgage specialists frequently assist Brevard County clients with both traditional and reverse mortgage products.
Key strengths:
- Diverse reverse mortgage offerings including HECM for Purchase
- In-house underwriting and fast processing times
- Known for strong communication and hands-on service
They’re a good option if you’re looking for a firm that blends the personal touch of a smaller lender with the infrastructure to handle your reverse mortgage quickly and efficiently. Plus, their reverse mortgage professionals often participate in local senior housing events and financial education workshops in the Palm Bay area.
Final Thoughts
Reverse mortgages can be a powerful tool for homeowners aged 62 and older in Palm Bay, giving them access to the equity they’ve built over decades, without the burden of monthly mortgage payments. Whether you’re looking to supplement retirement income, handle unexpected expenses, or just enjoy more financial freedom, the key is choosing the right lender who understands your local market and your personal goals.
We’ve highlighted several great options here in Palm Bay, but if you want personalized advice, a no-pressure quote, and direct access to licensed specialists, start with the team that’s helped hundreds of Florida homeowners make smart financial moves, Select Home Loans.
📞 Call 888-550-3296 today to speak to a local reverse mortgage expert or fill out a quote form on their website to get started.
Your home worked hard for you. It’s time to let it give something back.
