Florida has one of the largest populations of reverse mortgage borrowers in the country, and its homestead protections and senior exemptions work alongside a HECM.
What is different in Florida
- The FHA reverse mortgage (HECM) limit is $1,249,125 in 2026, the same nationwide.
- Many counties and cities offer an additional homestead exemption for owners 65 and older under an income limit.
- Insurance must stay in force under a HECM, and rising Florida premiums count in the financial assessment.
- Condos need FHA approval for a HECM, which narrows the choices in some Florida buildings.
Questions
Does Florida have a reverse mortgage program still?
Yes. FHA-insured reverse mortgages are available statewide; Florida doesn’t run its own separate program. See also: Reverse mortgages in Ohio.
Can I get a reverse mortgage on a Florida condo?
Yes, if the building is FHA-approved or the unit gets a single-unit approval. See also: Mortgage loans in Florida.
What happens to my homestead exemption with a reverse mortgage?
You keep it. You still own and live in the home, so the homestead exemption and Save Our Homes cap continue. See also: Reverse mortgages in Ohio.
Related
Reverse mortgages in other states: California, Arizona, Ohio. All of Florida: mortgage loans in Florida.
