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WiseBird.com 		   Florida Reverse Mortgages
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Seniors - 62 and over:

Buy your Florida dream-home at today's prices
with no monthly mortgage payments.

FHA will now allow seniors to use the HECM (Home Equity Conversion Mortgage) to purchase real estate. New enhancements to the government insured program allow seniors to purchase a home without having to pay back on what is owed.

Put the least amount down on your new home purchase and have no mortgage payment for the rest of your life. For a hypothetical example, Click here

Eligible Property Types Include:

  • Single Family Residence
  • Condo
  • Townhouse
  • 2-4 Unit Multi Family
  • Manufactured home
Who Qualifies?
  • Minimum Age 62
  • Must occupy property as primary residence
  • No income or credit score required
  • Good credit is not required
  • Can own up to 4 dwellings

Estimates of cash down-payment required by senior purchaser:

Purchase Price $650,000 --- Down Payment Required (approx.)
  • 62  $298,000
  • 72    245,000
  • 82    186,000
  • 92    132,000

Purchase Price $550,000 --- Down Payment Required (approx.)
  • 62  $243,000
  • 72    195,000
  • 82    144,000
  • 92     96,000

Purchase Price $450,000 --- Down Payment Required (approx.)
  • 62  $201,000
  • 72    162,000
  • 82    120,000
  • 92     80,000

Purchase Price $350,000 --- Down Payment Required (approx.)
  • Age 62  $158,000
  • Age 72    128,000
  • Age 82     95,000
  • Age 92     64,000

Purchase Price $250,000 --- Down Payment Required (approx.)

  • Age 62  $116,000
  • Age 72     94,000
  • Age 82     70,000
  • Age 92     51,000
Down payments vary due to ages and interest rates.


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