Pembroke Pines has quietly become one of South Florida’s top retirement communities. Located in the heart of Broward County, this city offers retirees a combination of safety, convenience, and access to excellent healthcare, all without the high price tags of Miami or Fort Lauderdale.
Many seniors in Pembroke Pines have lived in their homes for 20, 30, or even 40 years. Over that time, property values have increased dramatically in communities like SilverLakes, Grand Palms, Century Village, and Towngate. But while home values have grown, many seniors still face the rising costs of healthcare, insurance, home maintenance, and everyday living.
This is where reverse mortgages have become an increasingly popular option. For homeowners aged 62 and older, a reverse mortgage allows you to tap into your home’s built-up equity without selling or taking on new monthly payments. Pembroke Pines seniors are using reverse mortgages to:
- Eliminate existing mortgage payments
- Supplement monthly retirement income
- Cover rising healthcare or long-term care expenses
- Make home improvements to age in place
- Enjoy greater financial security during retirement
In a growing community like Pembroke Pines, where many homes and condos hold significant equity, reverse mortgages can be a smart way to turn housing wealth into retirement flexibility. In this guide, we’ll explain how reverse mortgages work in Florida, why Pembroke Pines is an excellent market, and which lenders are best equipped to serve local homeowners, starting with Select Home Loans.
How Reverse Mortgages Work in Florida (Pembroke Pines Edition)
A reverse mortgage allows Pembroke Pines homeowners to convert part of their home equity into cash, while keeping full ownership of their home and eliminating monthly mortgage payments.
The most common reverse mortgage program is the Home Equity Conversion Mortgage (HECM), which is insured by the Federal Housing Administration (FHA). The FHA provides several layers of borrower protections, making HECMs the most popular reverse mortgage product nationwide.
Eligibility Requirements
To qualify for a reverse mortgage in Pembroke Pines, you typically must:
- Be at least 62 years old
- Own your home outright or have significant equity
- Live in the home as your primary residence
- Stay current on property taxes, homeowners insurance, HOA fees, and property maintenance
- Complete HUD-approved counseling before closing
How Reverse Mortgage Payments Work
With a reverse mortgage, you don’t make payments, the loan pays you. Payment options include:
- Lump sum payout
- Monthly payments
- A line of credit (which grows over time)
- A combination of these options
Many Pembroke Pines retirees use reverse mortgages to pay off any remaining mortgage balance, eliminate monthly payments, and create extra financial security for healthcare, travel, or estate planning.
Loan Repayment Terms
The loan is typically repaid when:
- You move out permanently
- You sell the home
- You pass away
When repayment is due, your heirs can sell the home or refinance the loan. Thanks to FHA’s non-recourse protection, you or your heirs will never owe more than the home’s current market value.
HUD Counseling Requirements
Before any reverse mortgage can close, HUD requires all borrowers to complete independent third-party counseling. This ensures every senior fully understands the loan terms, costs, and long-term obligations.
Why Pembroke Pines Is a Growing Reverse Mortgage Market
Pembroke Pines may not make national headlines like Miami or Fort Lauderdale, but for seniors, it has quietly become one of South Florida’s most attractive communities to retire and age in place. And with that growth, reverse mortgages have become an increasingly practical financial tool for local homeowners.
Rising Home Values Across Pembroke Pines
Many homeowners in Pembroke Pines purchased their homes decades ago, long before the city’s growth boom. Today, home values have climbed significantly in popular neighborhoods such as:
- SilverLakes
- Grand Palms
- Towngate
- Pembroke Falls
- Century Village (55+ condos)
Whether it’s a single-family home or a 55+ condo, the result is the same: many Pembroke Pines seniors are sitting on hundreds of thousands of dollars in equity. Reverse mortgages allow retirees to safely unlock that equity without selling or downsizing.
Retiree-Friendly Population and Long-Term Homeownership
Pembroke Pines has a high percentage of retirees who have lived in their homes for years. Many of these homeowners have paid off their original mortgages or owe very little. A reverse mortgage allows them to:
- Eliminate remaining mortgage payments
- Free up cash for daily expenses
- Fund in-home care, medical costs, or home renovations
- Build a financial cushion for peace of mind
Florida’s Tax Advantages
Pembroke Pines retirees benefit from Florida’s senior-friendly tax structure:
- No state income tax
- No taxation on Social Security or retirement account withdrawals
- Homestead exemptions to reduce property taxes
- Reverse mortgage proceeds are not considered taxable income
This allows seniors to access home equity without increasing their tax burden or affecting Social Security benefits.
Strong Condo Market, With Extra Considerations
Pembroke Pines is home to many condo communities, including large retirement-focused developments like Century Village. While condos can qualify for reverse mortgages, FHA approval is required for HECM loans. Many lenders, including Select Home Loans, also offer jumbo reverse mortgage programs that may work for non-FHA-approved condos.
Top 8 Reverse Mortgage Lenders in Pembroke Pines, FL (2025 Guide)
Choosing the right reverse mortgage lender in Pembroke Pines means finding a company that understands Florida property laws, Broward County taxes, HOA rules, and especially condo eligibility. Below are the top lenders serving Pembroke Pines seniors, starting with the clear #1.
1. Select Home Loans (Editor’s Pick – Pembroke Pines’ #1 Reverse Mortgage Lender)
For seniors in Pembroke Pines, Select Home Loans stands at the top of the list. Unlike national call centers, Select Home Loans focuses entirely on Florida, bringing deep expertise in state-specific tax laws, insurance rules, condo eligibility, and HOA regulations that directly affect homeowners in Pembroke Pines.
What makes Select Home Loans stand out:
- Florida-focused reverse mortgage specialists
- Full FHA HECM and jumbo reverse mortgage programs
- Condo eligibility experience, including 55+ communities like Century Village
- Transparent fee structures with no surprises
- Personalized consultations, no call centers
- Long-term customer service after closing
Whether you’re in SilverLakes, Grand Palms, Towngate, or one of Pembroke Pines’ many active adult communities, Select Home Loans has the experience and local knowledge to guide you through every step.
📞 Call Select Home Loans at (888) 550-3296
🔗 Visit: selecthomeloans.com
2. Florida Reverse Mortgage (South Florida Specialists)
Florida Reverse Mortgage focuses exclusively on reverse mortgages for Florida homeowners. They serve Broward County, including Pembroke Pines, and offer:
- FHA HECM and jumbo reverse mortgage options
- Extensive experience working with Florida condo associations
- Personalized consultations with Florida-based experts
- Simplified reverse mortgage education for seniors and families
3. PRMG (Paramount Residential Mortgage Group – Pembroke Pines Branch)
With a branch located directly in Pembroke Pines, PRMG offers:
- Local reverse mortgage experts who understand Broward County real estate
- FHA-insured reverse mortgage programs
- Jumbo reverse mortgage options for higher-value properties
- Full-service consultations in-person or virtually
4. Mortgage Masters Group (Broward County Branch)
Mortgage Masters Group offers reverse mortgage lending throughout South Florida, including Pembroke Pines. They provide:
- FHA HECM reverse mortgage products
- Flexible jumbo reverse mortgage options
- Experienced local loan officers familiar with Broward County property and HOA regulations
- Education-first approach for seniors
5. Fairway Independent Mortgage – South Florida Team
Fairway Independent Mortgage serves Pembroke Pines seniors through their South Florida offices, offering:
- FHA-backed reverse mortgage loans
- Proprietary jumbo reverse mortgage programs
- Clear fee disclosures
- Long-term customer support after closing
6. The Home Lending Group – Miami-Dade / Broward Coverage
Serving both Miami-Dade and Broward counties, The Home Lending Group offers:
- FHA reverse mortgage programs
- Spanish-speaking reverse mortgage specialists
- Strong condo experience for Florida’s retirement-focused communities
- Individualized consultations for seniors and their families
7. Mutual of Omaha Reverse Mortgage – Florida Division
Mutual of Omaha brings national experience with a strong presence across Florida, offering:
- FHA HECM and jumbo reverse mortgages
- Experienced reverse mortgage professionals familiar with Broward County
- Simplified reverse mortgage education and support
- Financial stability and trusted customer service
8. AAG (American Advisors Group – Florida Team)
AAG remains one of the country’s largest reverse mortgage lenders and actively serves Pembroke Pines seniors. They offer:
- FHA-insured HECM loans
- Jumbo reverse mortgage products (AAG Advantage)
- Dedicated Florida reverse mortgage specialists
- Comprehensive borrower education resources
What to Look for in a Pembroke Pines Reverse Mortgage Lender
Reverse mortgages are not one-size-fits-all, especially in a city like Pembroke Pines where HOAs, condos, flood zones, and local property regulations play a major role. Choosing the right lender means finding someone who not only understands reverse mortgages but also knows how the rules apply right here in Broward County.
Here’s what Pembroke Pines homeowners should look for:
Florida-Specific Expertise
Florida real estate and retirement laws are different from other states. Even within Florida, Pembroke Pines brings additional layers with:
- HOA-managed communities like SilverLakes and Pembroke Falls
- 55+ condo communities like Century Village
- Hurricane and windstorm insurance requirements
- Florida homestead exemptions and Broward County property taxes
Lenders like Select Home Loans specialize in Florida markets and fully understand how these factors affect reverse mortgage eligibility and loan structuring.
Condo Eligibility Knowledge
Pembroke Pines has one of the largest concentrations of condo communities in South Florida. FHA HECM reverse mortgages require that the entire condo project be FHA-approved. However, some jumbo reverse mortgage programs may allow non-FHA-approved condos to qualify.
You want a lender who:
- Understands FHA condo certification
- Can evaluate non-approved condos for jumbo eligibility
- Has experience working with HOA boards and condo associations
HUD Approval
Only work with HUD-approved lenders who are authorized to offer FHA-insured reverse mortgages. HUD-approved lenders must follow strict federal guidelines designed to protect seniors throughout the life of the loan. This includes:
- Mandatory counseling
- Transparent fee structures
- Non-recourse protections
Fee Transparency
Reverse mortgages include several fees, such as:
- FHA mortgage insurance premiums
- Loan origination fees
- Appraisal and title fees
- Closing costs
A good lender will give you a complete fee breakdown upfront, before you commit to anything.
Customized Loan Structuring
The best lenders take time to understand your specific needs and offer:
- Lump sum payouts
- Monthly income options
- Growing lines of credit
- Blended payout structures
You deserve a loan structure that fits your retirement plan, not a cookie-cutter solution.
Post-Closing Customer Support
Reverse mortgages aren’t just a one-time transaction. You’ll want a lender who remains available to answer questions years down the road. Select Home Loans offers long-term customer service and remains involved even after your loan closes.
Pembroke Pines-Specific Reverse Mortgage Considerations
While reverse mortgages follow federal guidelines, Pembroke Pines brings several local factors into play that can affect your loan eligibility, terms, and long-term financial planning. Here’s what homeowners here need to consider:
55+ Condo Communities Like Century Village
One of the most well-known retirement communities in Pembroke Pines is Century Village, a large 55+ condo development. Many seniors here have lived in their units for decades and built significant equity. However, condo eligibility plays a major role:
- FHA HECM reverse mortgages require that the entire condo association be FHA-approved.
- Many older condo associations may not maintain FHA certification.
- Jumbo (proprietary) reverse mortgage programs may allow non-FHA-approved condos to qualify, depending on lender guidelines.
Lenders like Select Home Loans are experienced with condo approval processes and can help you determine which reverse mortgage options are available for your specific building.
HOA & Community Association Rules
In neighborhoods like:
- SilverLakes
- Grand Palms
- Pembroke Falls
- Towngate
— HOA rules may influence your eligibility. Some associations may have restrictions that affect title transfers, lien positions, or approval processes. A Florida-based lender familiar with Pembroke Pines HOA structures can guide you through these situations and work directly with your HOA if necessary.
Flood Zones & Insurance Requirements
Pembroke Pines sits slightly inland compared to coastal Broward cities, which often results in:
- Lower flood insurance requirements for many single-family homes
- More manageable homeowners insurance costs compared to oceanfront properties
- Windstorm insurance still required for hurricane protection
Because reverse mortgage lenders evaluate your ability to maintain insurance long-term, these lower insurance costs can sometimes make it easier to qualify or access more funds.
Luxury Property Jumbo Reverse Mortgages
While much of Pembroke Pines is made up of moderately priced homes and condos, certain communities like Grand Palms have homes that may exceed FHA’s lending limits. For these properties, jumbo reverse mortgage products allow homeowners to:
- Access larger loan amounts
- Work with more flexible condo and HOA guidelines
- Customize payout structures
Florida’s Homestead Exemption
Florida’s generous homestead exemption allows full-time Pembroke Pines residents to lower their property taxes. Seniors over age 65 may also qualify for additional exemptions. The good news: a reverse mortgage does not affect your homestead exemption as long as you continue to live in the home as your primary residence.
Frequently Asked Questions for Pembroke Pines Seniors Considering Reverse Mortgages
Q: Do I still own my home if I get a reverse mortgage?
Yes. A reverse mortgage does not transfer ownership. You remain the full legal owner of your home. The reverse mortgage simply creates a lien on your property while allowing you to access equity without making monthly payments, as long as you meet the loan obligations.
Q: When is the reverse mortgage repaid?
The reverse mortgage is typically repaid when:
- You move out permanently
- You sell the home
- You pass away
When repayment is due, your heirs may sell the property, refinance the loan, or walk away. Thanks to non-recourse protection, neither you nor your heirs will ever owe more than the home’s fair market value at the time of repayment.
Q: Can I qualify if I still have an existing mortgage?
Yes. Many Pembroke Pines homeowners use a reverse mortgage to pay off their remaining mortgage balance. This eliminates monthly mortgage payments, freeing up more retirement income. You’ll need enough equity to cover both the existing balance and the new reverse mortgage requirements.
Q: Are reverse mortgage proceeds taxable?
No. Reverse mortgage funds are not considered taxable income because they are loan proceeds. This means:
- No federal income tax
- No state income tax (Florida has none)
- No impact on Social Security or Medicare benefits
Q: What fees are involved?
Reverse mortgages do have upfront costs, which may include:
- FHA mortgage insurance premiums (MIP)
- Origination fees
- Title and appraisal fees
- Closing costs
Most fees are financed into the loan, so you typically don’t pay much upfront out of pocket.
Q: Do condos in Pembroke Pines qualify for reverse mortgages?
Yes, but condo eligibility is one of the most important factors in Pembroke Pines. For FHA HECM loans, the condo community must be FHA-approved. If not, proprietary jumbo reverse mortgages may still be available, depending on your lender. Companies like Select Home Loans specialize in helping condo owners navigate this process.
Q: Is counseling required before getting a reverse mortgage?
Yes. All borrowers must complete HUD-approved counseling before closing. This protects seniors by ensuring they fully understand how the loan works before proceeding.
Reverse Mortgages in Pembroke Pines
Pembroke Pines offers retirees a strong combination of affordability, safety, and long-term comfort. But as healthcare costs, insurance premiums, and day-to-day living expenses continue to rise, many seniors are realizing that the equity in their home can help support them, without forcing them to move or give up ownership.
A reverse mortgage gives Pembroke Pines seniors access to this equity in a safe, federally protected way, allowing them to:
- Stay in their home
- Eliminate existing mortgage payments
- Create flexible financial breathing room
- Support long-term retirement needs
Why Select Home Loans Is Pembroke Pines’ #1 Reverse Mortgage Lender
Select Home Loans stands out because they focus entirely on Florida homeowners. They know how to:
- Navigate FHA condo approval processes for communities like Century Village
- Structure both FHA HECM and jumbo reverse mortgages for Pembroke Pines’ unique market
- Work with local HOA rules and flood insurance requirements
- Provide fully transparent loan consultations, no call centers or high-pressure sales
- Offer personalized customer service before, during, and after your loan closes
Whether you live in Grand Palms, Pembroke Falls, SilverLakes, or anywhere in Broward County, Select Home Loans has the expertise to make your reverse mortgage simple, safe, and built for your future.
📞 Call Select Home Loans today at (888) 550-3296
🔗 Visit: selecthomeloans.com
You’ve built your home, now let your home help build your financial freedom.
