Reverse Mortgages in Hollywood
Finding extra money can pose a challenge when living on a fixed income. Reverse mortgages are a great way to take advantage of your home's equity and make it work for you. Contact Senior Lending Corporation to learn more from our licensed reverse mortgage counselors.
Defining Reverse Mortgages
Reverse mortgages allow homeowners over the age of 62 to access the equity in their homes without paying it back for as long as they live there. With a reverse mortgage, you can use between 40 to 60 percent of the equity in your home to pay for medical expenses, living expenses, home repairs or other items.
Once your application is approved, your local reverse mortgage company will explain how much money you can receive from your HECM reverse mortgage and pay you through:
- Lump sum
- Monthly payout
- Credit line
Reasons to Choose a Reverse Mortgage
You've worked hard all your life. Why should you have to move out of the home you love? With a reverse mortgage, you don't have to leave. You can stay in your house and keep the benefits that make it unique to you — like staying close to family members or friends, while enjoying:
- Tax-free additional income.
- Relief from monthly mortgage payments.
- Flexibility in how you use your funds.
Determining Your Eligibility for a Reverse Mortgage
If you can say yes to these four questions, you may be eligible for a reverse mortgage:
- Are you 62 or older?
- Do you own your home or have paid most of the mortgage?
- Is your home your primary residence?
- Is your home in decent condition?
However, the total amount you qualify for depends on your age, the loan's interest rate and the home's value.
About Senior Lending Corporation
You don't have to look further than Senior Lending Corporation for Hollywood, Florida, reverse mortgage solutions. We've provided our clients with excellent service and results since 1998.
Licensed in all of Florida, our fully trained team has a proven track record of success you can count on, whether you aim to secure your finances with a Hollywood reverse mortgage company or want the tools to learn more. When you speak with our experts, you'll receive a detailed look at this unique financial product's benefits, allowing you to decide whether it will help you achieve your short- and long-term goals.
We know how important it is for seniors to have confidence in their financial decisions — especially when they involve home equity financing. Rest assured that your best interests will always be at heart when you work with us.
Learn More From Your Local Reverse Mortgage Company
You have many options when it comes to retirement, and you deserve to know what they are. Our local reverse mortgage company has assisted families like yours for years, and we'd love to speak with you about how we can help you achieve the retirement of your dreams. Call 800-822-1190 to reach our team, get more specifics about what you are qualified for and get started!