✓ No FHA Approval Required
✓ Line of Credit Never Expires
✓ Available at Age 55
✓ Loans Up to $4 Million
Stuck in a hard money loan with high interest and a looming balloon payment? If you are a Florida homeowner age 55 or older, our proprietary reverse mortgage may be able to pay off your hard money loan entirely. No required monthly mortgage payments. Loan amounts up to $4 million.
Call (727) 244-7076 for a Free Loan ComparisonNo obligation · No paperwork to get started · We take our time with you
Hard money loans serve a purpose. They close fast when traditional financing is not available. But they were never meant to be permanent.
If you are a Florida homeowner 55 or older, you may have taken out a hard money loan to handle an urgent situation. Maybe you needed to close quickly on a purchase, cover repairs, or bridge a gap between transactions. The loan solved the immediate problem, but now the real pressure has set in.
Hard money loans in Florida typically carry interest rates between 9 and 14 percent. They require monthly payments. They mature in 12 to 36 months. When the balloon payment comes due, many borrowers find themselves scrambling for a way out.
Florida homestead law makes the situation even harder. Private lenders are especially cautious about lending on primary residences in Florida, which limits your refinancing options. Traditional lenders may not qualify you if your income has changed or your credit profile no longer fits conventional guidelines.
Sunshine State Home Loans is a licensed Florida mortgage broker specializing in proprietary reverse mortgages for homeowners age 55 and older.
If you meet the eligibility requirements, our proprietary reverse mortgage could potentially pay off your existing hard money loan in full. Once the hard money balance is retired, you have no required monthly mortgage payments going forward. The loan is typically repaid when you sell the home or permanently move out.
This is not a government loan. It is a private proprietary product that does not require FHA or HUD approval. We evaluate each property individually based on our own criteria, following all applicable federal and state lending regulations.
Subject to property and borrower approval. Borrowers remain responsible for property taxes, homeowners insurance, HOA dues, and special assessments.
Our proprietary reverse mortgage was designed for homeowners who need a permanent solution after being underserved by traditional financing options.
Hard money loans often carry rates of 9 to 14 percent with required monthly payments. A reverse mortgage has no required monthly mortgage payments. You could potentially go from a high interest obligation to zero monthly mortgage payments.
Hard money loans mature quickly, usually within 12 to 36 months. A reverse mortgage has no maturity date while you live in the home. No more scrambling for refinancing before a deadline.
The FHA program requires borrowers to be at least 62. Our proprietary reverse mortgage is available seven years earlier starting at age 55. If you are between 55 and 61, we may be able to help you today.
Our proprietary reverse mortgage does not require FHA or HUD approval. Whether you own a single family home, condo, or townhome in Florida, your property may be eligible. Manufactured homes are not eligible.
If your credit score is 720 or above you may qualify for our Residual Income Waiver which eliminates income documentation requirements. You must also have no force placed homeowners insurance in the last 12 months and no late payments on property taxes or HOA dues in the last 24 months.
Real reviews from Florida homeowners who trusted us with their reverse mortgage.
Can I refinance a hard money loan with a reverse mortgage?
If you are a Florida homeowner age 55 or older, you may be able to refinance your hard money loan using a proprietary reverse mortgage. The reverse mortgage pays off the hard money balance and eliminates your required monthly mortgage payments. Subject to property and borrower approval.
How do I get out of a hard money loan on my primary residence?
Common exit strategies include selling the property, refinancing into a conventional mortgage, or using a reverse mortgage. For Florida homeowners 55 and older, a proprietary reverse mortgage may be able to pay off the hard money loan entirely with no required monthly mortgage payments going forward.
What is the minimum age for a reverse mortgage to pay off a hard money loan?
The FHA program requires age 62. Our proprietary reverse mortgage is available starting at age 55. If you are between 55 and 61 and have a hard money loan on your Florida home, you may qualify for our program right now.
How much of my hard money loan can a reverse mortgage pay off?
The amount depends on your age, your home value, current interest rates, and your existing loan balance. Our proprietary reverse mortgage offers loan amounts up to $4 million. Contact us for a free loan comparison showing your specific numbers.
Will I have monthly payments after refinancing with a reverse mortgage?
A reverse mortgage does not require monthly mortgage payments. You remain responsible for property taxes, homeowners insurance, HOA dues, and special assessments. The loan is typically repaid when you sell the home or permanently move out.
Does my property need to be FHA approved?
Our proprietary reverse mortgage does not require FHA or HUD approval. We evaluate each property individually based on our own criteria, following all applicable federal and state lending regulations. Most Florida property types may be eligible including single family homes, condos, and townhomes. Manufactured homes are not eligible.
There is no paperwork required to speak with us. No credit check. No pressure of any kind. Just an honest conversation about your situation and your options.
Sunshine State Home Loans · Licensed Florida Mortgage Broker · Serving homeowners across the entire state
Fill out the short form below and we will prepare your free reverse mortgage loan comparison and reach out within one business day. No paperwork. No commitment. No obligation of any kind.
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.
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. A reverse mortgage may not pay off the full balance of every hard money loan. Actual loan amounts depend on borrower age, property value, interest rates, and existing liens. All loans are subject to credit approval. This material is not a commitment to lend. Sunshine State Home Loans is licensed to offer mortgage products in the state of Florida. Results vary based on individual circumstances. For complete program details, please contact us directly at (727) 244-7076.