Life Stage · Florida
Downsizing in Florida
Sell the larger home, free up equity, and move into something simpler in Florida — without surrendering your lifestyle.
Common challenges we solve
- Timing the sale of the current home and the new purchase
- Wanting to avoid a temporary rental or storage
- Fixed-income mortgage qualifying after retirement
- Maximizing tax efficiency on equity
What you get with Lumos
Bridge financing so you don't sell before you buy
Asset-depletion loans for retired or pre-retirees
Smaller monthly payment, freed-up cash flow
What's different in Florida
Florida's Save Our Homes portability lets you transfer some or all of your accumulated homestead assessment savings to a new Florida homestead if you apply within the allowed window — often a big benefit when downsizing. Florida has no state income tax; at closing, Florida charges documentary stamp tax on the note and deed and a one-time intangible tax on new mortgages, which we include in your estimate.
Loan programs that typically fit
Frequently asked
- Can I buy before I sell?
- Yes — bridge and recast strategies let you secure the new home first and pay down once the old one sells.
- What if I'm retired?
- Asset-depletion programs let us qualify you using investment and retirement balances instead of W-2 income.
- Will I pay capital gains?
- Many primary-residence sellers may exclude up to $250k single / $500k married. Consult your tax advisor — we coordinate with your CPA.
