Deltona Reverse Mortgages
Located halfway between Daytona Beach and Orlando, Deltona, Florida, allows you to take advantage of the beach and the city, making it a great location to get the most out of your retirement. If you're looking for more ways to ensure you can continue to enjoy all that this beautiful city has to offer, Senior Lending Corporation is here to help with our reverse mortgage options.
What's a Reverse Mortgage?
With a reverse mortgage, a homeowner can use the equity on their home to finance their retirement. You will receive monthly payments to use however you'd like, such as paying off medical bills or planning that once-in-a-lifetime trip you've been dreaming of. With Senior Lending Corporation, you have the option for a home equity conversion mortgage (HECM) or proprietary reverse mortgage, and you can accept money as a lump sum, line of credit or fixed monthly payment.
Reverse Mortgage Advantages
As a retired homeowner, choosing our Deltona reverse mortgage company offers a variety of benefits, like:
- You can improve how you manage your expenses: By applying for a reverse mortgage, you can improve your cash flow to maintain your current lifestyle or pay off some of your major bills, like your mortgage bill.
- You can age in place: A reverse mortgage gives you the funds to age in place, so you do not have to worry about moving.
- No income taxes: The IRS considers the money you get from a reverse mortgage “loan proceeds,” which means it isn't subject to tax.
Basic Reverse Mortgage Requirements
You must meet several requirements to qualify for a reverse mortgage:
- Age: You must be 62 or older to be eligible for a reverse mortgage.
- Equity: As a homeowner, you must have sufficient equity in the home.
- Counseling: All reverse mortgage borrowers must complete a federally-approved counseling session.
- Residency: You must live in the house for most of the year.
Reverse Mortgage Process
To complete the reverse mortgage process, you will need to perform the following steps:
- Complete your initial application.
- Complete the reverse mortgage counseling process.
- Undergo an appraisal from an FHA-approved appraiser.
- Confirm your legal ownership of the home.
- Close and receive your funds.
Why Choose Senior Lending Corporation?
If you're ready to start enjoying your retirement to its fullest, Senior Lending Corporation is here to help through advantages such as:
- Experienced reverse mortgage experts: Our team will help you feel prepared to complete the reverse mortgage process and will ensure you have access to as many benefits as possible.
- Years of service: Our local reverse mortgage company has years of experience helping retirees in Deltona maximize their retirement savings, and we will use this experience to benefit you as well.
- Licensed and certified in Florida: Our team has the licensing and certification to provide reverse mortgages to residents in Deltona while serving retirees throughout Florida.
Connect With One of Our Licensed Mortgage Advisors Today
Are you ready to ensure your finances are secure during your retirement? Call us at 800-822-1190 or complete our online contact form to speak with one of our licensed reverse mortgage counselors to learn how we can elevate your finances in retirement with a reverse mortgage today.