✓ No FHA Approval Required
✓ Open Line of Credit While You Meet Loan Terms
✓ Available at Age 55
✓ Loans Up to $4 Million
You want out of your HELOC. The payments keep rising and you want a solution. A reverse mortgage may provide the funds to pay off your HELOC balance entirely. No required monthly mortgage payments*. Available at age 55. Primary residences only.
*No required monthly mortgage payment. Borrower remains responsible for property taxes, homeowner's insurance, HOA dues, special assessments, and property maintenance. Loan balance becomes due upon sale, vacating the property, or borrower's passing.
See If You May Qualify Or Call (727) 244-7076No obligation · No paperwork to get started · We take our time with you
Fill out the short form below and we will prepare your free exit analysis and reach out. No paperwork. No commitment. No obligation of any kind.
Your information stays private. We do not sell your personal information.
Please note: Borrowers are always responsible for the payment of property taxes, homeowners insurance, HOA dues, and any special assessments. Failure to meet these obligations may result in the loan becoming due and payable. This is not a commitment to lend. All loans are subject to credit and property approval.
*Borrowers remain responsible for property taxes, homeowners insurance, and HOA fees. This is not a commitment to lend.
A reverse mortgage provides funds to pay off your HELOC balance completely. Once paid, the variable interest rate is no longer your problem.
Unlike a traditional mortgage or personal loan, a reverse mortgage has no required monthly mortgage payment. The loan is repaid when you sell, move, or pass away.
Our proprietary reverse mortgage is available starting at age 55. The FHA government program requires age 62. Qualify sooner with us.
Fill out the form below and we will prepare your free HELOC exit analysis and reach out. No pressure.
Real reviews from Florida homeowners who trusted us with their reverse mortgage.
Can a reverse mortgage pay off my HELOC?
Yes. A reverse mortgage may provide funds sufficient to pay off your HELOC balance in full. Once paid, your obligation to the lender ends and you own the home equity outright.
What is the minimum age?
Our proprietary reverse mortgage is available to Florida homeowners starting at age 55. The FHA government program requires age 62. If you are between 55 and 61, you may qualify for our program now.
Do I have to prove income?
Borrowers with a 720 or higher credit score who are refinancing may qualify for the Residual Income Waiver. This can make qualification faster and simpler.
Is this available for investment properties?
No. This reverse mortgage is available for primary residences only. The property must be your main home in Florida. Investment properties and second homes do not qualify.
What happens to my HELOC after payoff?
Once your HELOC balance is paid off with reverse mortgage funds, the HELOC account is closed and the lien is released from your home. The reverse mortgage becomes the new lien on the property. You continue to live in your home with no monthly mortgage payments required. You remain responsible for property taxes, homeowners insurance, HOA dues and special assessments, and the rate is variable. Interest and fees are added to the loan balance, so the amount you owe grows over time.
What is the 720 credit score waiver for refinances?
On a refinance, the lender's residual income test may be waived when the borrower has a qualifying credit score of 720 or above, has carried homeowner's insurance on the property for the past 12 months without a force-placed policy, and meets the lender's credit history requirements. When one borrower has a 720 score, a co-borrower's score may be as low as 690. Property tax and HOA payment history are reviewed under the lender's requirements for this loan. This waiver applies to refinance loans only. Credit, property and the other loan requirements still apply, and the underwriter decides. Subject to approval.
There is no paperwork required to speak with us. No pressure of any kind. Just an honest conversation about your home, your situation, and your options.
Sunshine State Home Loans · Licensed in Florida · Serving homeowners across the entire state
This website is for informational purposes only and does not constitute financial, legal, or tax advice. Reverse mortgage products are subject to eligibility requirements, terms, and conditions. All loans are subject to credit approval. This material is not a commitment to lend. Sunshine State Home Loans is a licensed Florida mortgage broker, not a lender. A reverse mortgage may be able to provide funds to pay off a HELOC; however, the HELOC obligation is not automatically eliminated. The reverse mortgage becomes a lien on your home. Results vary based on individual circumstances. For complete program details, please contact us directly at (727) 244-7076.