Ocala Reverse Mortgages

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.

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What Is a Reverse Mortgage?

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.

Advantages of a Reverse Mortgage

Some of the main benefits of requesting a reverse mortgage include:

  • Tax-free income: All funds you receive from a reverse mortgage qualify as tax-free income.
  • Homeownership: Instead of selling your home to liquidate this asset, you can age in place while still having access to the funds you would have obtained from a sale.
  • Secure funding: The money from a reverse mortgage is secure, which means that even if the housing market fluctuates, you will still have access to a reliable funding source.
  • Financial freedom: Reverse mortgages allow you to choose how you use the funds for an additional reliable income source.

Basic Requirements for a Reverse Mortgage 

To qualify for a reverse mortgage, you must meet the following:

  • Your home is your primary address.
  • You own sufficient equity in the home.
  • You are 62 years old or older.

The Reverse Mortgage Process

To receive a HEMC reverse mortgage or a proprietary mortgage, you will need to complete the following:

1

Initial Application

2

HECM Counseling & Certificate

3

FHA-Approved Appraisal

4

Title Insurance/Closing

Why Choose Senior Lending Corporation?

As Florida’s top reverse mortgage company, when you choose Senior Lending Corporation for your reverse mortgage needs, you will experience a variety of benefits such as:

  • Licensed in Ocala and the entire state of Florida: Our licensed experts meet all of the state and local requirements to provide reverse mortgages to retirees in Florida.
  • Decades of experience: As a local reverse mortgage company, our team has years of experience helping retirees across Ocala with their reverse mortgage needs.
  • A top choice: Our team will go above and beyond so you have all the information you require to make an informed decision regarding your reverse mortgage.

Learn How We Can Help You With the Reverse Mortgage Process Today

Start enjoying greater financial peace of mind with Senior Lending Corporation. Our expert team is here to help you at every step of the reverse mortgage process and will ensure you feel comfortable. Contact us at 800-822-1190 or complete our online contact form to learn more today!