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Deerfield Beach Reverse Mortgages

With crisp white sand beaches and sparkling blue waters, Deerfield Beach, Florida, is the perfect place to reside during your golden years. As you spend your days soaking up the sun and appreciating the many shopping and dining opportunities, you may wonder how you can maintain this lifestyle throughout retirement. Luckily, with a reverse mortgage from Senior Lending Corporation, you can access reliable funds to help you maintain your lifestyle or pay off any significant debt to continue relaxing and enjoying all that Deerfield Beach offers.


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What’s a Reverse Mortgage?

A reverse mortgage transforms a homeowner’s equity into cash that they can use however they’d like. For example, you can use the money from your home equity to pay bills, fund a home renovation or pay for a trip you’ve been waiting to take.

Unlike a traditional mortgage, homeowners who use a reverse mortgage receive payments directly. Homeowners also have the option to withdraw money as a line of credit, a monthly payment system or a lump sum.

By choosing Senior Lending Corporation as your Deerfield Beach reverse mortgage company, you will have the option to choose between two different types of reverse mortgages:

  • Proprietary reverse mortgage: This loan is primarily for high-value homes and does not have federal insurance.
  • Home equity conversion mortgage (HECM): As a more popular reverse mortgage option, HECM reverse mortgages have backing from the federal government and a few flexible options for how borrowers can spend and withdraw funds.

Advantages of a Reverse Mortgage

One of the main benefits of reverse mortgages is you can use the funds without restriction. Some of the many uses of reverse mortgages include:

  • Paying off credit card debt
  • Vacations
  • In-home care
  • Medical bills
  • Daily living expenses
  • Home improvement

Since reverse mortgages have a line of credit, homeowners can choose how to spend their time and money without restraint. Additionally, the income from reverse mortgages is typically tax-free, offering a stress-free alternative to ensure you have enough funds during retirement.

Requirements of a Reverse Mortgage

To qualify for a reverse mortgage, you must meet the following requirements:

  • You are a homeowner.
  • You are 62 or older.
  • The house you are taking a reverse mortgage on is your primary residence.
  • You attend a HUD-approved counseling session.
  • You own sufficient equity in the home.
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Choose Senior Lending Corporation

At Senior Lending Corporation, we believe in offering complete flexibility when it comes to retirement, which is why we provide candid and compassionate services to meet your exact financial needs. As a local reverse mortgage company, our advisors have the proper licensing to work in Deerfield Beach and the entire state of Florida, so we can help you find the best solution for your home.

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Get in Touch With Our Reverse Mortgage Experts Today

As one of the top reverse mortgage company’s in Florida, our team is ready to help you reach your financial goals to make the most out of your retirement. Contact our team by calling 800-822-1190 or completing our online contact form to learn how we can meet your unique financial needs.