Reverse Mortgage (HECM) in Hallandale Beach: Condo Approval, HOA Dues and Senior Exemptions

Short answer

Yes, a Hallandale Beach owner 62 or older may qualify for a HUD reverse mortgage (HECM) on a condo, but only if the building is on HUD's approved list or the unit meets FHA single-unit approval, and only after a session with a HUD-approved counselor. The 2026 HECM limit is $1,249,125, about five times the $244,950 median Hallandale Beach condo sale in the third quarter of 2026, so the limit rarely matters here; building approval and monthly HOA dues do. QMS Lending connects you with reverse mortgage lenders, subject to credit approval and property eligibility.

Step one in Hallandale Beach: is your building HUD-approved?

Hallandale Beach is a condo city. In the third quarter of 2026, MIAMI REALTORS counted 157 condo and townhouse sales in the city against only 21 single-family sales. For most owners here, the first question is not age or equity. It is whether HUD will accept the building.

HUD lists three ways a condo can qualify for a HECM, as of November 2026:

• The project is HUD-approved. Search the association on HUD's condo list under Broward County and Hallandale Beach. Many buildings are listed under the association's legal name, not the name on the sign out front.
• The unit meets FHA single-unit approval. This is a one-unit review when the whole project is not approved. HUD Mortgagee Letter 19-13 limits single-unit approvals to 10% of the units in projects of 10 or more units, and to two units in projects of fewer than 10. In a 200-unit building, no more than 20 units can be financed that way.

Older oceanfront and Intracoastal buildings can run into trouble on the documents a lender reviews: budget and reserves, insurance, pending litigation, investor or short-term rental share, or one owner holding many units. If a building fails review, it may be non-warrantable. A HECM is then unlikely, and a proprietary (non-HUD) reverse mortgage or a non-warrantable condo loan may be the option to price.

Hallandale Beach condo values and the 2026 HECM limit

HUD Mortgagee Letter 2025-22 sets the 2026 HECM maximum claim amount at $1,249,125 for case numbers assigned from January 1 through December 31, 2026. HUD uses the lesser of your appraised value and that limit, then sizes the loan by the youngest borrower's age and the interest rate. Borrowers must be 62 or older and live in the home as a primary residence. Full rules are in our Florida reverse mortgage guide and the basics in what is a reverse mortgage.

MIAMI REALTORS third-quarter 2026 figures for the City of Hallandale Beach, as of November 2026:

• Condos and townhouses: median sale price $244,950, down 8.6% from a year earlier, on 157 sales, 101 of them cash. Sellers received a median 89.7% of original list price, median time to contract was 97 days, and there were 976 active listings, a 19.0-month supply. The Broward condo median was $250,000 with 10.2 months of supply.
• Single-family homes: median $529,000 on 21 sales, a small sample.

Read that as a buyer's market for condos. Nineteen months of supply is almost double the county figure. For a HECM, the appraisal sets the base, and appraisers lean on recent closed sales in your building and nearby, not on asking prices. If several units in your building sold below list this year, expect the appraisal to reflect it. Rates vary daily; call 305-425-1990 for today's pricing.

HOA dues are the bill a HECM never pays

A HECM can pay off your current mortgage and leave you with no monthly mortgage payment. It does not remove your association dues. Under 24 CFR 206.205, condominium and homeowners association fees must be paid on or before the due date, and property taxes (including special assessments), hazard insurance and required flood insurance remain your obligations for the life of the loan. You must also keep the unit in good repair.

Why this matters more in Hallandale Beach than in a single-family suburb:

• Dues are often the largest housing cost after the payoff. In an older tower, monthly dues can rise with insurance renewals and reserve funding.
• A set-aside will not cover them. If HUD's financial assessment requires a Life Expectancy Set-Aside (LESA), it can pay taxes and insurance, but the regulation does not let it pay association fees.
• Special assessments count. Florida's condo safety law requires a milestone inspection for buildings three stories or taller at 30 years and every 10 years after, and local officials may set 25 years based on local conditions, per the Florida Senate's SB 154 analysis. Associations that must complete a structural integrity reserve study cannot waive those reserves. Repairs found in these reviews often turn into special assessments.

Missing a dues payment, a tax bill or an insurance renewal can put the loan in default, even with no monthly mortgage payment. That is the main risk to plan around in a condo.

Broward senior exemptions in Hallandale Beach

A HECM leaves title in your name, so your homestead exemption and any senior exemption continue. Lower property taxes also help in HUD's financial assessment, which looks at whether you can keep paying property charges. Per the Broward County Property Appraiser (BCPA), as of November 2026:

• Low-income senior exemption: an additional $25,000 exemption on the county portion of taxes and on city taxes in cities that adopted it, for owners 65 or older on January 1 who have homestead and household adjusted gross income of no more than $38,686 (the limit published for the 2027 tax year, which the state adjusts each year).
• Hallandale Beach local options: BCPA lists Hallandale Beach among the cities that enacted the ordinance raising the senior exemption to $50,000, and among the cities that enacted the long-term residency senior exemption.
• Long-term residency test: at least 25 years of permanent residence in the home, the same age and income rules, and a just value under $250,000 in the first year you apply.

That last rule is unusually relevant here. The median Hallandale Beach condo sold for $244,950 last quarter. Just value is the appraiser's figure, not a sale price, but many long-time condo owners in the city may be near or under the $250,000 line. Look up your just value on bcpa.net before you assume you do not qualify.

HUD costs, counseling and local help

HUD costs as of November 2026: an initial mortgage insurance premium of 2% at closing, an annual premium of 0.5% of the outstanding balance, and an origination fee of the greater of $2,500 or 2% of the first $200,000 of value plus 1% above that, capped at $6,000. On a condo appraised at $244,950, that is about $4,899 of initial premium and about $4,449 of origination fee (example only; the initial premium can be financed into the loan). Third-party costs such as appraisal, title and recording are extra.

Every HECM borrower must complete a session with a HUD-approved HECM counselor before the application moves forward. The counselor is independent and also covers alternatives. Find one through the CFPB counselor search; many offer sessions by phone in English or Spanish.

Local help: the Area Agency on Aging of Broward County is at (954) 745-9567, and Florida's Elder Helpline is 1-800-963-5337.

If your building cannot qualify, or you would rather keep a mortgage payment and more equity, a HELOC or a fixed second mortgage may work, subject to credit approval. For purchases and refinances see our Hallandale Beach mortgage broker page, or compare nearby condo markets in reverse mortgage in Aventura and reverse mortgage in Hollywood.

QMS Lending is an independent mortgage broker in Miami, FL, founded in 2018, NMLS #1781090, working with 100+ lenders in English and Spanish. Michael Fernandez, NMLS #1491775, is President. We hold 4.9 stars across 200+ Google reviews. Call 305-425-1990 with your building's association name, your age and any current mortgage balance, and we will check HUD approval first.