Boca Raton Reverse Mortgages
When you think of top places to spend your retirement, you may think of Boca Raton, Florida. With pristine beaches and plenty of sun, Boca Raton is a beautiful location that allows you to experience the best South Florida has to offer. As a retired homeowner in Boca Raton, you may be wondering what the best way is to ensure you can maintain this relaxing lifestyle. Luckily, with Senior Lending Corporation, you can easily fund your Florida paradise with our reverse mortgages.
What's a Reverse Mortgage?
When you choose a reverse mortgage, you turn your home equity into spendable cash that you can use for anything from paying bills to funding a dream vacation. After you receive your funds, you can access them as a line of credit, a lump sum or a monthly payment.
The Senior Lending Corporation offers homeowners the option between a home equity conversion mortgage (HECM) and a proprietary reverse mortgage. A HECM reverse mortgage has backing from the federal government to offer a few flexible options for how you spend and withdraw the money. Proprietary mortgages, however, are ideal for higher-value homes and do not have federal backing.
What Are Some of the Advantages of a Reverse Mortgage?
While one of the main benefits of a reverse mortgage is the option to use the funds for a wide variety of financial needs, these mortgages offer a variety of advantages, such as:
- Secure your retirement: Reverse mortgages are ideal for retirees with limited savings but a lot of home equity as they turn assets into cash.
- You can stay in your home: Instead of selling your house to liquefy this asset, a reverse mortgage enables you to keep your property and get cash to age in place.
- Pay off your existing loan: You can use your reverse mortgage to pay off your mortgage for greater financial flexibility.
Basic Reverse Mortgage Requirements
Reverse mortgages are mainly for retirees, and to qualify for a reverse mortgage, you must meet the following requirements:
- You own sufficient equity in the home.
- You attend a required federally-approved counseling session.
- Your home is your primary residence.
- You are at least 62 years old.
Why Work With Senior Lending Corporation?
At Senior Lending Corporation, we want to help you make the most out of your retirement with candid and compassionate financial services. Our reverse mortgage counselors will take the time to ensure you are comfortable throughout the entire reverse mortgage process and will work with you to develop a customized solution for your home.
In addition to being one of the top Boca Raton reverse mortgage companies, our advisors have the required licensing and certification for Boca Raton and the entire state of Florida. This licensing and our years of experience give us in-depth knowledge of the specific needs of Boca Raton residents and how we can best meet your needs.
Learn Why We Are a Top Reverse Mortgage Company
Partner with us today to learn why Senior Lending Corporation is one of the top local reverse mortgage companies in Boca Raton. Contact us online by calling 800-822-1190 or completing our online contact form to speak with a licensed advisor about your home's needs.