Ocala Reverse Mortgages
With winding pathways and crystal clear streams, Ocala, Florida, is the perfect location for those looking to enjoy a slower pace of life while taking in the natural scenery. As a retired homeowner in this beautiful area, you may want to ensure you can maintain the relaxing lifestyle you have worked so hard to build. Luckily, improving your financial health is easy with a reverse mortgage from Senior Lending Corporation.
What Is a Reverse Mortgage?
With a reverse mortgage, the homeowner borrows against their home's equity to receive funds. You can accept your money as a fixed monthly payment, a line of credit or a lump sum. The homeowner can do whatever they'd like with their money, such as buying a set of kayaks to explore Ocala's many waterways or a once-in-a-lifetime vacation.
When you choose our Ocala reverse mortgage company for your reverse mortgage needs, you can choose between a proprietary and home equity conversion mortgage (HECM).
Advantages of a Reverse Mortgage
If you need additional funds to meet your financial obligation, a reverse mortgage is an excellent option to help you stay afloat. Some of the main benefits of a reverse mortgage include:
- You have protection if your loan exceeds your home's value: The amount you repay will never exceed the value of your property for greater financial security.
- You do not have to pay taxes on the income: The income you receive from a reverse mortgage is not subject to taxes as the IRS considers the money to be loan proceeds. Our reverse mortgage counselors can walk you through the process to ensure you get the most benefit from your reverse mortgage.
- You can age in place: With a reverse mortgage, you will have the funds to pay off your current mortgage and remain in your home throughout your retirement.
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:
- Fill out your initial application.
- Undergo reverse mortgage counseling and submit a signed HECM reverse mortgage counseling certificate.
- Have an FHA-approved appraiser appraise your home.
- Complete a title search and purchase title insurance.
- Enter closing and receive your final closing documents.
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!
