Reverse Mortgage in Pompano Beach: Condos, Roofs and Senior Exemptions

Short answer

A Pompano Beach homeowner 62 or older may qualify for a reverse mortgage (HECM) with no monthly mortgage payment, after HUD-approved counseling and as long as they keep paying taxes, insurance and HOA dues and maintain the home. The 2026 HECM limit is $1,249,125, more than double the $507,500 median Pompano Beach house in the third quarter of 2026, but a condo must be in a HUD-approved project or qualify for single-unit approval. QMS Lending connects you with reverse mortgage lenders, subject to credit approval and property eligibility.

Pompano Beach values vs. the 2026 HECM limit, as of November 2026

HUD Mortgagee Letter 2025-22 sets the 2026 HECM maximum claim amount at $1,249,125 for case numbers assigned in calendar 2026. HUD figures the loan on the lesser of the appraised value and that limit, then adjusts for the youngest borrower's age (or an eligible non-borrowing spouse) and the interest rate. Borrowers must be 62 or older and live in the home. Full rules are in our Florida reverse mortgage guide.

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

• Townhouses and condos: median sale price $275,000, up 10.0% from a year earlier, on 238 closed sales, 133 of them cash. Median time to contract was 86 days. The Broward County condo median fell 4.9% to $250,000 over the same period.
• Single-family homes: median $507,500, up 1.5%, on 159 closed sales. Median time to contract was 67 days, versus 38 days for all of Broward, where the median was $645,000.

Pompano condo values rose while the county's fell. That helps a condo owner, because the appraisal is the base of a HECM. Houses are moving slower than the county average, so an appraiser will lean on recent nearby sales; clean, repaired homes tend to appraise better. A house near the median is roughly $740,000 under the HECM limit, so the full value counts.

Rates vary daily; call for today's pricing.

Pompano condos on the coast: HUD approval and inspections

For a condo, HUD requires a HUD-approved project or a unit that meets FHA single-unit approval. HUD Mortgagee Letter 19-13 caps single-unit approvals at 10% of units in projects of 10 or more, and at two FHA loans in smaller projects. In a large beachside tower, that 10% can already be used up.

• Search the building on HUD's condo list under Broward County and Pompano Beach before paying for an appraisal.
• An Expired status means the association was approved before and can recertify if the board agrees.
• The lender will request a condo questionnaire; an estoppel certificate will confirm what you owe the association at closing.

Pompano has many older mid-rise and high-rise buildings along the beach and the Intracoastal. Florida law requires a milestone inspection for condo buildings three stories or taller at 30 years and every 10 years after. The Florida Senate's SB 154 analysis explains that the 2023 bill removed the automatic 25-year trigger for buildings within three miles of the coast but lets local building officials require 25 years where conditions such as salt air justify it. Buildings also need a structural integrity reserve study, and reserves cannot be waived after December 31, 2024.

Higher reserve dues or a special assessment raise your property charges in HUD's financial assessment. Get the current budget, the latest inspection status and any assessment notice before you apply. If the building is not FHA-approved and cannot get a single-unit approval, see non-warrantable condo financing for other paths, which carry monthly payments.

Pompano Beach senior exemptions, per the Broward County Property Appraiser

You keep title with a HECM, so your homestead exemption and any senior exemption stay while you live there. The Broward County Property Appraiser lists Pompano Beach as offering both city senior exemptions, as of November 2026:

• Low-Income Senior Exemption, $50,000: Pompano Beach adopted the local option that raises the base $25,000 exemption to $50,000 for city taxes. You must be 65 or older on January 1, have homestead, and have 2026 household adjusted gross income of no more than $38,686; the Property Appraiser says it will adjust that figure by the end of January 2027.
• Long-Term Residency Senior Exemption: for owners who meet the same tests, have lived in the home at least 25 years, and whose home had a just value under $250,000 in the first year they apply. It covers the city's ad valorem taxes.

For the 2027 tax year, the sworn income statement is due March 1, 2027, tax return or Social Security documentation by June 1, 2027, and the late-filing deadline is September 20, 2027. The Property Appraiser lists Pompano Beach's operating millage at 5.2443, unchanged from 2024 to the 2025 proposed rate. At that rate the $50,000 exemption is worth about $262 a year in city tax. School and county taxes are separate.

Lower taxes mean lower property charges in the HECM financial assessment, which can reduce or avoid a set-aside. If you may qualify, file with the Property Appraiser before you apply.

Roofs, repairs and Pompano's senior roof program

A HECM home must meet FHA property standards at appraisal, and a worn roof is one of the most common problems the appraiser flags in South Florida. A roof near the end of its life can also make homeowners insurance harder to keep, and insurance is a charge you must pay for the life of the loan.

The City of Pompano Beach Office of Housing and Urban Improvement runs a Senior Roof Replacement Program, as of November 2026. Its 2026 flyer lists:

• Up to $30,000 per award.
• Owners 62 or older, or disabled, with very low or low household income under the city's limits.
• Single-family homes only, owner-occupied, with a 100% homestead exemption, current homeowners insurance, current mortgage and property taxes, no other property owned, and assets of no more than $50,000.
• Apply online through the city's Neighborly portal; for help call (954) 786-4659 or email ohui@copbfl.com.

The flyer does not state whether the award is recorded as a lien or how a later reverse mortgage affects it. Ask OHUI in writing before you combine the two, and tell your lender about any city lien. Condo owners are not eligible, since the association handles the roof.

Other help: the Area Agency on Aging of Broward County runs the local Aging and Disability Resource Center at (954) 745-9567; Florida's Elder Helpline is 1-800-963-5337.

What you keep paying, counseling and how QMS Lending helps

Under 24 CFR 206.205 you must pay condo, PUD and HOA fees on or before the due date, and keep paying property taxes (including special assessments), hazard insurance and any required flood insurance. A Life Expectancy Set-Aside may cover taxes and insurance if the financial assessment requires it; it does not pay association dues. If charges go unpaid and no loan funds remain, the loan can become due and payable.

HUD costs as of November 2026: an initial mortgage insurance premium of 2% at closing (it can be financed into the loan), 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. Rates vary daily; call for today's pricing.

Before applying, every borrower must complete a session with a HUD-approved HECM counselor. Find one through the CFPB counselor search; many offer phone sessions in Spanish.

If a HECM is not a fit, a HELOC in Fort Lauderdale and Broward or a fixed second mortgage may work, with a monthly payment and subject to credit approval. See our Pompano Beach mortgage broker page for purchases and refinances, or compare with reverse mortgage in Fort Lauderdale.

QMS Lending is an independent mortgage broker in Miami, FL, NMLS #1781090, with 100+ lenders and a bilingual team. Michael Fernandez, NMLS #1491775, President. Call 305-425-1990 with your address, age and current mortgage balance.