With its sunny climate and proximity to the Walt Disney World Resort complex and other popular attractions, Kissimmee, Florida, is an excellent place to retire. Kissimmee residents can use a reverse mortgage loan provided by Senior Lending Corporation to enjoy a more financially secure retirement.
As you pay your home’s mortgage each month, you build equity, which is the amount that’s left when you subtract what you still owe on the loan from the home’s value. A reverse mortgage allows you to draw from this equity and receive a lump sum of cash, regular installments or a line of credit. No repayment is required until you permanently leave the home.
A Home Equity Conversion Mortgage (HECM) reverse mortgage is the most common type and includes insurance from the Federal Housing Administration. Owners of high-value residential properties can explore proprietary loan options via private lenders.
A HECM reverse mortgage provides many benefits for older homeowners:
The minimum age for loan eligibility is 62 years old. The home you apply with must be your main residence, and you need enough equity to fund the loan. You must also complete an approved counseling program to ensure you understand how the mortgage works and whether it’s a viable option for your situation.
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Senior Lending Corporation has been helping older homeowners use reverse mortgages to improve their retirement lifestyle since 1998. We’re licensed in Kissimmee and throughout Florida and have a stellar reputation for honesty, integrity and service.
Our expert and professional team includes well-trained Kissimmee reverse mortgage advisors who will support you every step of the way. You’ll partner with a dedicated advisor who will answer your questions and provide reliable guidance throughout the process, enabling you to make educated decisions.
Is a reverse mortgage appropriate for your financial situation? Let our experts help you explore all the options. Call us at 800-822-1190 to speak to a licensed advisor. You can also request additional information by returning our online contact form.
