CAPE CORAL, FLORIDA · ELITE MORTGAGE SOURCE
Florida Reverse Mortgages.
Your next chapter.
Explore how a Reverse Mortgage could fit your retirement plans—with clear guidance from Don Vuncannon.
HECM reverse mortgages are for eligible homeowners age 62+. Some proprietary programs start at age 55, subject to lender requirements. You must continue paying property taxes and insurance, maintain the home, and meet occupancy requirements.
REVERSE MORTGAGES, EXPLAINED
See the possibilities. Understand the responsibilities.
A Home Equity Conversion Mortgage (HECM) lets eligible homeowners borrow against home equity. You keep title to your home. Monthly principal and interest payments are not required while you meet the loan terms.
01
Access home equity
Discuss whether available loan proceeds could help with your retirement budget and goals.
02
Understand the costs
Interest and fees increase the loan balance over time, which can reduce the equity left for you or your heirs.
03
Know your obligations
Taxes, insurance, maintenance, and occupancy requirements still apply. Failing to meet the terms can lead to foreclosure.
The loan generally becomes due when the last borrower dies, sells the home, or permanently moves out, subject to protections for eligible non-borrowing spouses. A Reverse Mortgage is a loan, not a government benefit.
Proprietary Reverse Mortgages: options starting at age 55
Reverse Mortgages are not limited to the FHA-insured HECM program for borrowers age 62 and older. Some wholesale lenders offer proprietary Reverse Mortgages for eligible Florida homeowners age 55 and older. These are private lender programs, not FHA-insured HECMs.
Some proprietary options may offer lower closing costs than a HECM, depending on the lender, loan amount, and terms. Compare written estimates, interest rates, total borrowing costs, and borrower protections—not just upfront fees. Age requirements, property eligibility, and availability vary by program. Taxes, insurance, maintenance, and other loan obligations still apply.
Talk with Don about whether a HECM or a proprietary Reverse Mortgage could fit your goals.
A CLEAR PATH FORWARD
Start with your questions.
Your goals, current mortgage, and plans for your home all matter. Don can help you compare your options and understand the next steps.
Talk With Don1. Share your goals
Tell us what you want your home equity to help you accomplish.
2. Compare your options
Review eligibility, estimated costs, and alternatives. A HECM requires independent counseling from a HUD-approved agency.
3. Decide at your pace
Consider the effect on your household, future housing plans, and estate before applying.
Common Reverse Mortgage questions
Who may qualify for a HECM?
Borrowers must be at least 62, have sufficient home equity, use the property as a principal residence, and meet financial and property requirements. Any existing mortgage must be paid off at closing. HUD-approved counseling is required.
What expenses will I still pay?
Property taxes, homeowners insurance, maintenance, and applicable property charges remain your responsibility. Interest, fees, and applicable mortgage insurance add to the cost of the loan.
Is a Reverse Mortgage right for everyone?
No. Compare the costs with your goals and consider refinancing, other home-equity options, or downsizing. Review how the loan could affect your spouse, heirs, and future move.
For independent information, visit the Consumer Financial Protection Bureau’s Reverse Mortgage resources.
REVERSE MORTGAGE SPECIALTY. A FULL RANGE OF OPTIONS.
If it’s a mortgage, let’s talk.
Reverse Mortgages are my specialty, and I also help with home purchases, refinancing, and other ways to access home equity.
01
FHA, VA & USDA
Explore FHA, VA, and USDA mortgage options for eligible borrowers and properties.
02
Conventional mortgages
Discuss conventional financing for your home purchase or refinance.
03
Non-QM & home equity
Non-qualified mortgages (Non-QM) with alternative income documentation and Home Equity Lines of Credit (HELOCs).
Program availability and approval depend on borrower qualifications, property eligibility, and lender guidelines.
Explore All Mortgage Options →
LET’S TALK
Your next chapter starts with a conversation.
Don Vuncannon · Branch Manager & Loan Officer
NMLS ID 71918
Elite Mortgage Source · Branch NMLS ID 2693663
A branch of NEXA Lending, LLC · NMLS ID 1660690
Cape Coral, Florida
“Reverse Mortgages are my specialty—and I have one myself. I bring that personal experience to our conversation about your options.” — Don Vuncannon
READY FOR THE NEXT STEP?
Apply online with Don.
Use the button to open our application on your phone or computer. Viewing this page on a computer? Scan the QR code with your phone’s camera.
Apply OnlineThe application opens on our external application portal. For Reverse Mortgage questions, start with a consultation so we can discuss the appropriate next steps.
