✓ No FHA or HUD condo community approval is required, subject to the product's own condo review.
✓ Open Line of Credit While You Meet Loan Terms
✓ Available at Age 55
✓ Loans Up to $4 Million
About this page: Sunshine State Home Loans, LLC, a BBB A+ rated, Florida licensed mortgage broker, outlines a proprietary reverse mortgage for Florida homeowners 55 and older, including Marco Island and Collier County condo owners whose communities lack FHA approval. Written and reviewed by Diego Quintero, Mortgage Loan Originator, NMLS #1534075.
Serving Marco Island homeowners and condo owners 55 and older with proprietary reverse mortgages. No FHA or HUD condo community approval is required, subject to the product's own condo review. No upfront mortgage insurance. Loan amounts up to $4 million. Available at age 55.
See If You May Qualify Or Call (727) 244-7076No obligation · We take our time with you
You keep paying property taxes, homeowners insurance and any association dues, keep the home in repair and live in it as your main home. Interest and fees are added to the loan balance, so the amount you owe grows over time. The rate is fixed or variable depending on the option you choose; on the line of credit the rate is variable, and a variable rate can change. You may qualify, subject to approval.
Fill out the short form below and we will prepare your free reverse mortgage loan comparison and reach out. 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.
Homeowners and condo owners on Marco Island may have equity in their homes.
Accessing that equity through a reverse mortgage can be challenging through traditional channels. Many Marco Island condo communities are not on the FHA approved list. The government FHA program also requires borrowers to be at least 62.
Many homeowners hear that a condo must be FHA approved and the borrower at least 62. That is true of the FHA HECM program, which we also offer access to. The proprietary reverse mortgage we broker requires no FHA or HUD condo community approval, subject to the product's own condo review, and is available starting at age 55. You may qualify, subject to approval.
Many Marco Island homeowners walk away believing no one can help them. That is not true. The proprietary reverse mortgage we arrange as broker removes both of these barriers. No FHA or HUD condo community approval is required, subject to the product's own condo review. Available starting at age 55. You keep paying property taxes, homeowners insurance and any association dues, keep the home in repair and live in it as your main home. Interest and fees are added to the loan balance, so the amount you owe grows over time. The rate is fixed or variable depending on the option you choose; on the line of credit the rate is variable, and a variable rate can change. You may qualify, subject to approval.
Sunshine State Home Loans serves Marco Island homeowners and condo owners with proprietary reverse mortgages. Each Marco Island property is reviewed individually, subject to credit and property approval; Sunshine State Home Loans is the broker and does not fund or approve the loan. Unlike FHA-insured reverse mortgages, this private, proprietary reverse mortgage has no FHA condo approval requirement and starts at age 55, so Marco Island residents who are not eligible for the FHA program may qualify, subject to approval.
Marco Island is known for its pristine beaches, luxury waterfront properties, and exclusive gated communities. The proprietary reverse mortgage brokered by Sunshine State Home Loans is offered to homeowners across Florida. Island properties, waterfront homes and condominium communities on Marco Island are reviewed property by property, subject to credit and property approval.
Subject to property and borrower approval. Borrowers remain responsible for the payment of property taxes, homeowners insurance, HOA dues, and special assessments. This is not a commitment to lend.
Sunshine State Home Loans works with Marco Island homeowners on the questions that come with island properties and condo associations. Whether you own a single family home, a luxury waterfront residence, or a high-rise condominium in one of Marco Island's most sought-after communities, we work with you to explore options that fit your specific situation and financial goals.
We serve homeowners and condo owners throughout Marco Island and surrounding Collier County communities. Marco Island properties including high rise condominiums, waterfront homes, and luxury residences may qualify subject to underwriting.
Marco Island condo communities do not have to hold FHA approval for the proprietary reverse mortgage Sunshine State Home Loans brokers. Each property is reviewed individually, subject to credit and property approval.
Marco Island has some of the highest property values in Florida. Loan amounts up to $4 million, the program's maximum, subject to approval.
The proprietary reverse mortgage is available starting at age 55. Seven years earlier than the government FHA program minimum age of 62.
The FHA program charges upfront mortgage insurance based on your home value. The proprietary reverse mortgage does not have this charge. You keep paying property taxes, homeowners insurance and any association dues, keep the home in repair and live in it as your main home. Interest and fees are added to the loan balance, so the amount you owe grows over time. The rate is fixed or variable depending on the option you choose; on the line of credit the rate is variable, and a variable rate can change. You may qualify, subject to approval.
See what our clients have to say about working with Sunshine State Home Loans.
Does Sunshine State Home Loans work with Marco Island homeowners?
Yes. Sunshine State Home Loans, LLC is a Florida licensed mortgage broker working with homeowners across Florida, including Marco Island and Collier County. It brokers a proprietary reverse mortgage; the lender that funds this loan (Sunshine State Home Loans is the broker) reviews each property. Subject to credit and property approval.
My Marco Island condo is not FHA approved. Can I still get a reverse mortgage?
You may qualify, subject to approval. The proprietary reverse mortgage brokered by Sunshine State Home Loans requires no FHA or HUD condo community approval, subject to the product's own condo review. Subject to credit and property approval.
What is the minimum age for this reverse mortgage in Florida?
The proprietary reverse mortgage brokered by Sunshine State Home Loans is available to Florida homeowners starting at age 55. The government FHA program requires borrowers to be at least 62. Age is one requirement among several; the loan is subject to credit and property approval.
Does this reverse mortgage charge FHA upfront mortgage insurance?
No. The proprietary reverse mortgage brokered by Sunshine State Home Loans is a private loan, not FHA-insured and not a government program, so the FHA upfront mortgage insurance premium does not apply. Other loan costs apply, and interest and fees are added to the loan balance, so the amount owed grows over time.
How do I get started with Sunshine State Home Loans?
Fill out the short form on this page or call (727) 244-7076. Sunshine State Home Loans, a Florida licensed mortgage broker, prepares a reverse mortgage loan comparison at no cost and with no obligation. The lender, not the broker, makes any approval decision; all loans are subject to credit and property approval.
No pressure of any kind. Just a conversation about your Marco Island property, your situation, and your options, at your pace.
Sunshine State Home Loans, LLC · Licensed in Florida · Serving homeowners across Florida, including Marco Island and Collier County
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 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.