Reverse Mortgages in Weston: HECM Limits, HOA Dues and the Bills You Keep Paying

Short answer

A Weston owner 62 or older may qualify for a reverse mortgage (HECM), and the typical Weston house fits under the 2026 HECM limit of $1,249,125: the median single-family sale in Q3 2026 was $900,000. Because almost every Weston home sits in an HOA and many also pay district assessments, the lender will check that you can keep paying those dues, plus property taxes and insurance, for as long as you live there. HUD-approved counseling is required first, and every loan is subject to credit approval and property eligibility.

Weston values vs. the 2026 HECM limit

A HECM is figured on the lesser of your appraised value or HUD's limit. For case numbers assigned in 2026, HUD Mortgagee Letter 2025-22 sets that limit at $1,249,125, which is 150% of the $832,750 conforming limit. Our Florida reverse mortgage guide covers the statewide rules and what is a reverse mortgage explains the basics. This page is about Weston.

Florida Realtors data published by MIAMI REALTORS for the City of Weston, third quarter of 2026, as of November 2026:

• Single-family homes: 135 closed sales at a median of $900,000, down 0.6% from a year earlier. The average sale was $1,104,237.
• 35 of the 135 house sales were cash, about 26%.
• Townhouses and condos: 44 sales at a median of $444,500, up 20.1% from a year earlier, with 8.3 months of supply.

What that means for a Weston owner:

• The median house is $349,125 under the HECM limit, so the full appraised value is likely to count.
• Even the average house sale, $1,104,237, is under the cap.
• The larger homes in the gated, golf and lake communities can sell above $1,249,125. On those, the HECM is figured as if the home were worth $1,249,125. The extra value still belongs to you; it is just not used in the HECM math.

The amount you can actually receive also depends on the age of the youngest borrower (or eligible non-borrowing spouse) and the interest rate at the time. Rates vary daily; call for today's pricing.

HOA dues and district assessments: the bills that never stop

A reverse mortgage removes the monthly mortgage payment. It does not remove anything else. Under 24 CFR 206.205, condominium fees, planned unit development fees and homeowners' association fees are always the borrower's job, along with property taxes (including special assessments levied under local or state law), hazard insurance and any required flood insurance.

Weston is built around master-planned communities, so this matters more here than in most cities:

• HOA and sub-association dues. Many Weston homes pay a neighborhood association and sometimes a master association. Both count. A lender will look at what you pay today and whether your income and assets can keep covering it. See what is an HOA.
• Indian Trace Development District. The city's dependent special district sets yearly assessments by sector. For FY2026, the City of Weston lists amounts from $576.50 to $37,866.21 per acre in Basin I, depending on the sector, and $723.70 to $1,852.92 per unit for the Basin II communities it lists. Find your sector before you meet with the counselor so the numbers in your budget are real.
• HOA special assessments. If your association votes a special assessment for roofs, roads or a clubhouse, you owe it like any other charge. See what is a special assessment.

Why it is serious: under Florida Statute 720.3085, an HOA can record a lien for unpaid assessments and foreclose it the same way a mortgage is foreclosed, after a 45-day notice of intent. On the HECM side, if property charges go unpaid and there are no loan funds left to cover them, 24 CFR 206.205 has the servicer ask HUD to call the loan due and payable.

If the lender's review shows the budget is tight, it may require a Life Expectancy Set-Aside (LESA): part of your loan is held back to pay taxes and insurance for you. That lowers the cash you can take, but it protects the home.

Homes above the cap: proprietary (jumbo) reverse mortgages

If your Weston home is worth well above $1,249,125, the HECM simply stops counting value at the cap. The CFPB notes that some lenders offer proprietary reverse mortgages, which are not insured by the federal government and are typically designed for borrowers with higher home values.

In general terms, what to know before comparing one:

• Different rules. Because they are not FHA-insured, each lender sets its own age, property and fee rules. Do not assume a proprietary loan works like a HECM on every point.
• Compare in writing. Ask each lender for the same set of numbers: cash available at closing, the line or monthly amount, total upfront costs and what happens to the line over time. The CFPB recommends comparing options, fees and rates from several lenders.
• Same core obligations. Any reverse mortgage still depends on you living in the home and keeping taxes, insurance and HOA dues current.
• Other paths. Some owners with high values and solid income compare a reverse mortgage to a HELOC or a fixed second mortgage, which keep your first mortgage in place but do require monthly payments. Our Weston HELOC page covers that option.

Because QMS works with 100+ lenders, we can line up a HECM quote and a proprietary quote side by side, subject to credit approval and property eligibility.

Weston senior exemptions, millage and Amendment 3

Taxes are the biggest bill a reverse mortgage borrower keeps. A few Weston-specific facts from the Broward County Property Appraiser, as of November 2026:

• Low-income senior exemption. Weston offers the additional senior exemption at $50,000. It applies to the county portion and to city taxes. For the 2027 exemption, combined household adjusted gross income for 2026 must not exceed $38,686. The sworn income statement is due March 1, 2027.
• Long-term residency senior exemption. Weston is one of the Broward cities that offer it. It covers city taxes for qualifying seniors with 25 years of permanent residence, and the home's just value must be under $250,000 in the first year you apply. Few Weston houses meet that value test, but some condos may.
• Millage. BCPA lists Weston's proposed 2026 city operating rate at 3.6260 mills, up from 3.3464 in 2025. The County Commission rate is 5.6658 mills and the School Board's two operating rows add to 6.2940 mills. District, HOA and other assessments come on top.

Amendment 3 passed on November 3, 2026 (about 62% yes, unofficial until certified). The non-school homestead exemption rises to $150,000 in 2027 and $250,000 in 2028, then is indexed to inflation from 2029. Owners who become permanent Florida residents after December 31, 2026 start smaller and reach the larger amount in their fifth year of homestead. The first tax bills affected arrive in November 2027, and school taxes do not change.

For a long-time Weston homesteader, that can lower the non-school part of the bill, which helps a reverse mortgage budget. Your homestead exemption stays in place with a HECM because you still own and live in the home.

Flood insurance and the FHA appraisal in Weston

HUD says every HECM property must meet FHA property standards and flood requirements. In practice:

• Flood zone check. If any part of the home is in a Special Flood Hazard Area, flood insurance is required and becomes one more charge you must keep paid. Check the exact lot on FEMA's map, not the community. See what is a flood zone.
• Weston's CRS rating. The City of Weston has a Class 6 rating in FEMA's Community Rating System. That can mean up to a 20% discount on NFIP policies issued or renewed in Special Flood Hazard Areas on or after May 1, 2020. Preferred Risk policies in Zones B, C and X do not get that discount.
• Condition. The FHA appraiser flags health and safety items: roof, electrical, water heaters, pool safety. Some repairs can be finished after closing with money set aside; others must be done first.
• Townhouses and condos. If you own a Weston condo, the project must be FHA-approved or the unit must qualify for single-unit approval before a HECM can close. HUD's ML 19-13 caps single-unit approvals at 10% of a project's units.

Costs, counseling and how QMS Lending helps

Per HUD, as of November 2026:

• Counseling first. Every borrower must meet with a HUD-approved HECM counselor before applying. We can help you find a counselor near Weston.
• Mortgage insurance. 2% upfront at closing and 0.5% a year on the balance. Both can be financed.
• Origination fee. The greater of $2,500 or 2% of the first $200,000 of value plus 1% above that, capped at $6,000. On a $900,000 Weston house the formula gives $11,000, so the cap of $6,000 applies.
• When it comes due. Under 24 CFR 206.27, the loan comes due when the last borrower dies or sells, or when the home is no longer the principal residence of any borrower, including an absence of more than 12 consecutive months for illness. It can also be called if property charges or other obligations are not met. An eligible non-borrowing spouse may be able to stay.

QMS Lending is an independent broker in Miami, FL. We explain the options in English or Spanish, help you gather your HOA, district and tax numbers before counseling, and compare reverse lenders for you. For buying or refinancing in the city, see our Weston mortgage broker page. Call 305-425-1990.