Coral Springs Reverse Mortgages
At Senior Lending Corporation, we seek to restore your trust in the word “mortgage.” As we age into retirement, we're left with the free time to do the things we want but not always the money to achieve them. With a good reverse mortgage counselor on your side, you can use your home's equity to restore financial security and take your future into your own hands.
What Is a Reverse Mortgage?
A reverse mortgage lets you use your home's equity as collateral for a loan.This equity can amount to a sizeable sum, with which you can do anything you please. The most common type of reverse mortgage is a Home Equity Conversion Mortgage (HECM), representing nearly 98% of all mortgages and is the only reverse mortgage that is federally insured.
The Benefits of a Reverse Mortgage
The primary draw of HECMs — and reverse mortgages in general — is that they put more money in your pockets with fewer fees than traditional loans. Once approved, you can choose how you receive the money and how you pay it back.
Without the stress of maintaining payment plans and high interest rates, you can use the money how you want. Treat your family, pay off debts or take a vacation around the world.
Basic Reverse Mortgage Requirements
If you're considering a reverse mortgage to prepare for your future, first, make sure you meet the basic requirements. You must:
- Be 62 or older.
- Have a single-family home, townhouse, condo or similar shelter.
- Use the building in question as your primary residence.
- Minimum Income and credit requirements - no credit score required.
When you contact Senior Lending about a HECM, we'll get started by signing you up for a mandatory counseling session. Then, we can get started with the application process and appraising your home's equity. We'll be with you through the loan approval and paperwork until you have the retirement funds you've worked for.
Why Senior Lending Corporation?
Our team prides itself on being Coral Springs's local reverse mortgage company. Our trusted experts have spent years learning the ins and outs of all forms of reverse mortgages so we can better serve our community. With licensing and certifications that extend throughout the entire state, we're ready to help any Coral Springs resident work through their finances and determine whether a reverse mortgage is the right choice for them.
Speak to a Reverse Mortgage Counselor Today
Let Senior Lending Corporation give you and your family peace of mind when it comes to funding your retirement. We'll guide you through every step of the application process and support you as you prepare for your retirement. Call Florida's top reverse mortgage company at 800-822-1190 or contact us online so we can get started.