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Call: 904-484-7091
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Considering a Reverse Mortgage? What You Need to Know!

The government-insured reverse mortgage is a lending program first introduced in 1961. Regulated and insured by the FHA (Federal Housing Administration), a reverse mortgage is a type of loan for homeowners age 62 and older. 

A reverse mortgage allows homeowners to obtain income or a line of credit based on their existing equity in their home. The original intent of this type of mortgage, also known as a Home Equity Conversion Mortgage (HECM), was to provide a means for seniors to age in their homes using the equity they’ve built up over the years.

Requirements to Obtain a Reverse Mortgage

Reverse mortgages require that the borrowers live on the property as their primary residence, whether it be a single-family dwelling, a condominium, or a manufactured home.

Various rules apply to the property and the borrowers. Among them are the following:

  • The property must undergo an appraisal to set the value of the loan.
  • Borrowers must demonstrate through their financial documents that they are able to keep up with payments for homeowners’ insurance, property taxes, and basic home maintenance, as well as other debts they may have acquired.
  • Borrowers must attend a counseling session with an FHA-approved counselor to ensure they understand whether taking out a reverse mortgage is the best financial move for them.

What the Reverse Mortgage Can Do

In the first year of the loan, borrowers may use up to 60% of the loan to pay off a current mortgage on the home plus 10% (whichever is higher). In year two, they may access the remaining amount.

The loan is repaid upon sale of the home. If there is not enough from the sale of the home to repay the loan, FHA insurance covers the rest.

A non-borrowing surviving spouse may continue to live in the home after the death of the borrower.

For More Information

There’s much more to learn about reverse mortgages before you decide on this alternative for your future. If you’d like a more in-depth explanation, call Sales Associate Larson Miniard at 904-460-2938 or email

The Fun Doesn’t End at La Fontana! Try These Six Great Day Trips

If you’re contemplating a move to the fabulous condo community at La Fontana in Florida, you have a world of adventures ahead of you! Not only will you be in a celebrated golfing community adjacent to famous courses and the World Golf Village, but you’re within an hour or two of major day-trip options. Do you prefer contemplative gardens, historic sites, state parks, water sports or a frenzied motor speedway?  Whatever your preferences, you won’t be at a loss for activities year ‘round.

Kanopaha Botanical Gardens. These spectacular gardens in Gainesville, Fla., feature the state’s largest public display of bamboos and the largest herb garden in the Southeast, along with a pool of lily pads, each the size of a city fountain. A paved walkway leads visitors throughout the gardens and to the frequent garden events like the Spring Garden Festival and the Moonlight Walk with music and 1,500 luminaries.

New Smyrna Beach. Quaint shops and cafes, a thriving arts community and a small-town feel distinguish this cozy beach community. Its own Apollo Beach is a segment of the Canaveral National Seashore. For those with surfing in their blood, bring your board. New Smyrna Beach is on National Geographic’s list of the world’s 20 best surf towns.

Blue Springs State Park. One of Florida’s 1,000 natural springs, you’ll find a wealth of things to do at Blue Springs on a hot Florida day. There’s swimming, snorkeling, scuba diving, tubing, kayaking/canoeing, a boat tour, fishing, and camping. From October through March, enjoy a stroll along the raised boardwalk and watch the hundreds of manatees that shelter there during the cooler months.

Amelia Island/Fernandina Beach. This historic location was the summer place to be seen in the Victorian Age. Today, the island with the town of Fernandina Beach at its heart still retains that vintage charm while featuring both upscale and casual restaurants and resort destinations alongside docks and a pristine beach. As an extra bonus, join the popular Kayak Amelia members for a guided kayak or Segway tour.

Cumberland Island. Just north of the Florida/Georgia line is the town of St. Marys, Georgia, where you board the scenic ferry ride for Cumberland Island. Once there, you’ll stroll the shady dirt roads of the island past remnants of Carnegie family mansions. The island is popular as home to more than 100 wild horses who thrive as contentedly today as they did in the 16th century. It is also the secret location where John Kennedy Jr. and Carolyn Bessette married in 1996.

Daytona Speedway. If you are a NASCAR fan, or even if you’re not, you’ll enjoy Daytona’s Speedway Tour. From the Tour Tram, you’ll feel the excitement of traversing the 31-degree high banks of the track. Later, you’ll climb to the top of the podium in Gatorade Victory Lane and visit the Motorsports Hall of Fame of America. There, you’ll see the many displays honoring all motorsports favorites like stock cars, sports cars, drag racers, powerboats and aviation.

These are just a few of the fun day-trip destinations near La Fontana. To plan a tour of La Fontana and learn more about the secure, low-maintenance living offered there, contact Sales Associate Larson Miniard at (904) 460-2938 or email for more information.