Whether you have been a homeowner in Largo, Florida, for five years or 15, this beautiful city always offers something new to discover. However, as you enter your retirement, you may wonder about the best way to maintain your lifestyle on a new income. Luckily, a reverse mortgage is a great financial option that allows you to access money to use for anything from paying bills to financing your next big vacation.
A reverse mortgage is a financing option for retirees who may have limited savings but a lot of equity in their home. We offer two reverse mortgage options to provide greater flexibility. The first is a home equity conversion mortgage (HECM) which has additional insurance from the Federal Housing Administration. The second is a proprietary reverse mortgage, which is for high-value homes and does not have federal insurance.
Some of the main benefits of requesting a reverse mortgage include:
Like other lending options, reverse mortgages have specific requirements. For example, you must be at least 62 years old to qualify for a reverse mortgage. Borrowers must also attend a federally approved information session to ensure they meet and understand the loan requirements.
Other requirements include owning sufficient equity in the home. Additionally, the home you wish to use a reverse mortgage on must be your primary residence.
When it comes to your reverse mortgage, it’s essential to work with a reliable company you can trust. Luckily, Senior Lending Corporation offers a variety of benefits, such as:
Enjoy peace of mind about your finances during your retirement with Senior Lending Corporation. Our management team has years of experience in the HECM reverse mortgage and proprietary reverse mortgage industry, and we will match you with the right program that meets your needs. To speak with one of our licensed reverse mortgage counselors, we invite you to call us at 800-822-1190 or complete our online contact form.
