Retiring in your Miami home opens many doors for you to continue experiencing the city’s vibrant culture and life. Whether you like to stay active by swimming in the ocean, going on hikes in the national parks or having a peaceful morning or afternoon while bird-watching, ensure you can continue enjoying your free time in retirement with extra income from a reverse mortgage.
If you want to get a reverse mortgage, come to Senior Lending Corporation. We’re a local Miami reverse mortgage company that helps provide peace of mind so you can fully experience retirement.
A reverse mortgage is essentially a loan from your home’s equity, in which you convert a portion of the equity into funds to use for other things like paying for debt, bills or vacation. Using the money you receive from a reverse mortgage helps supplement your retirement income.
A common reverse mortgage homeowners like to get is a home equity conversion mortgage (HECM). It’s the most secure type of reverse mortgage because it is federally insured and has flexible payout options. You could receive the payments as a lump sum or in monthly installments by opening a credit line.
Reverse mortgages provide many advantages for retired homeowners. When you opt into one, you receive an additional source of income that provides even more benefits because it is untaxable, and you don’t have to pay it back like you would with other loans. Plus, thanks to its equity, you get to stay in your home while maximizing the funds you receive.
You’ll also appreciate your financial freedom with a reverse mortgage. The extra income will be helpful for whatever you use it for. Additionally, if you have a HECM reverse mortgage, you can rest assured the money you receive is fully secure. Even if your home loses equity if the housing market drops, your reverse mortgage is federally insured, so you won’t have to make up for the equity you’ve already used.
If you want to get a reverse mortgage, your first step is to talk to one of the reverse mortgage counselors at Senior Lending Corporation in Miami. We’ll go over the requirements of applying for a reverse mortgage and help you submit an initial application.
When you’re ready to apply for a reverse mortgage, Senior Lending Corporation is ready to assist you. Working with us provides homeowners with unbeatable benefits. We have: