Turn your home's equity into retirement income — with no monthly mortgage payments. For homeowners age 62 and older in Florida & Texas.
A reverse mortgage lets eligible homeowners age 62 and older convert part of their home equity into cash — as a lump sum, a line of credit, or monthly payments — without selling the home or taking on a monthly mortgage payment. The most common type is the Home Equity Conversion Mortgage (HECM), which is insured by the FHA.
Instead of paying the loan down each month, the balance is repaid when you sell the home, move out permanently, or pass away — usually from the sale of the home. You remain the owner and stay in your home as long as you keep up with property taxes, homeowners insurance, and maintenance.
Homeowners age 62+ with significant equity who want to supplement retirement income, eliminate an existing mortgage payment, or create a financial cushion — while staying in their home.
A reverse mortgage reduces the equity available to you and your heirs. HUD-approved counseling is required before obtaining a HECM — we'll walk you through every step and trade-off honestly.
Yes. You remain the owner and stay in your home as long as you keep up with property taxes, insurance, and maintenance.
When you sell the home, move out permanently, or pass away — usually from the sale of the home. HECM loans are non-recourse, so you or your heirs never owe more than the home's value.
Heirs can keep the home by repaying the loan balance (or 95% of appraised value, if lower), sell it and keep any remaining equity, or walk away with no personal liability.
Yes — BayPort Lending is licensed in both Florida and Texas, and reverse mortgages are available in both states subject to program guidelines.
Proprietary reverse mortgage programs can serve qualifying homeowners under age 62 — with equity released through a structured block-style draw system. Compare it with a HECM and HELOC side by side.
Talk it through with a licensed BayPort loan officer — the full picture, benefits and trade-offs, no pressure.