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Reverse Mortgages in Naples, Florida

Have you owned a home in Naples for many years? You have ample opportunities to enjoy the fishing, boating, golfing, high-end shopping and everything else this beautiful Florida city on the Gulf of Mexico offers. A reverse mortgage from Senior Lending Corporation can provide additional financial freedom and a more comfortable lifestyle in retirement.

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What Is a Reverse Mortgage?

A reverse mortgage is a loan secured by a residential property. The homeowner can access the accumulated equity to get cash as a lump sum or a line of credit. These loans typically do not require making payments — the remaining amount isn’t due until the owners leave the home. 

A federally insured Home Equity Conversion Mortgage (HECM) is a reverse mortgage program for homeowners with small or no mortgage balances and who are current on federal debt obligations. Borrowers must also attend an information session with approved HECM counselors. 

Advantages of a Reverse Mortgage

A reverse mortgage loan can provide numerous advantages for homeowners:

  • Flexibility: You can use the funds for any purpose, giving you money to enjoy an extended vacation, repay debts, remodel your home, help your loved ones or plan for future expenses — the options are limitless. 
  • No tax ramifications: Because a reverse mortgage is a loan and not income, you don’t have to pay taxes on the proceeds.
  • Stay in your home: If your goal is to age in place, these mortgages can provide the funds you need to remain in your current home.
  • No repayment schedules: You can elect to repay the loan over time or wait upon leaving the home. 
  • Pay off mortgage: Some homeowners use the funds to retire an existing home loan, providing more funds to cover other expenses.

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Basic Reverse Mortgage Requirements

Qualifying for a home equity conversion mortgage is a straightforward process. You must be at least 62 years old and meet the provider’s equity guidelines. The home must be your primary residence and not a vacation or rental property. 

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Why Choose Us as Your Reverse Mortgage Company in Naples?

Senior Lending Corporation is proud to be one of the most trusted providers of local reverse mortgages in Naples and throughout Florida. We’re a fully licensed business with extensive experience and a stellar reputation for treating people fairly. Our products and services have no hidden fees or surprise charges. 

Call us at 800-822-1190 or contact us online for additional information.

800-822-1190

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