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Reverse Mortgages in Sunrise, Florida

Are you at least 62 years old and own a home in Sunrise, Florida? Could you use extra funds to make your retirement less stressful? A reverse mortgage loan from Senior Lending Corporation can provide the solution. We’ve been helping older homeowners enjoy a more comfortable and financially secure retirement since 1998. 


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What Is a Reverse Mortgage?

If you’ve been paying a mortgage on your Sunrise home for several years, you’ve probably accumulated substantial equity, which is the appreciation of the property that you own. A reverse mortgage is a loan that allows you to draw from your home’s equity by receiving a lump sum of cash, regular installments or a line of credit. Use the funds for any purpose, and you don’t need to repay the loan until you sell the home. 

A Home Equity Conversion Mortgage (HECM) is the most common type. The HECM is a federally backed program featuring Federal Housing Administration insurance protection, giving borrowers more comfort and security.  

Reasons to Consider a Reverse Mortgage 

These loans for seniors can provide many benefits:

  • Stay in your home: You can continue to live in the home you love and keep the title. You’ll only need to pay for essentials like insurance, property taxes and maintenance. 
  • Financial flexibility: Use the funds for whatever you wish, such as taking a dream vacation, paying bills or helping other family members. You could even pay off an existing mortgage.
  • Non-recourse loan: With a reverse mortgage, neither you nor your heirs are liable for any portion of the loan that exceeds your home’s value.
  • Tax-free cash: Because the IRS categorizes the funds as loan proceeds instead of income, you won’t have to pay taxes on a reverse mortgage. 
  • Easy to obtain: The application process is straightforward. You typically don’t have to meet any minimum credit score requirements. 
  • Peace of mind: The extra cash can alleviate financial concerns and help you enjoy a worry-free retirement.

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What Are the Requirements?

You’re likely eligible for a HECM reverse mortgage if you’re 62 or older and have built up enough equity to fund the loan. Additionally, the home must be your main residence and not a vacation house or rental property. Receiving federally approved mortgage counseling is another requirement. 

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Why Choose Senior Lending Corporation?

We have the expertise to make getting your loan a smooth and seamless process. Our reverse mortgage company is licensed in Sunrise and throughout Florida, and we have an excellent reputation in every area we serve. You’ll work with a personal advisor throughout the process who will deliver an exceptional client experience. 

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Contact Us for More Information Today

Do you have questions about these loans or need help determining whether they’re a viable option for your financial situation? Take the next step and call our Sunrise reverse mortgage counselors at 800-822-1190. You can also complete our online contact form to request additional information.