Reverse Mortgages in Tallahassee
If you are a senior in Tallahassee who wants to make your golden years more comfortable, consider a reverse mortgage. Through our local reverse mortgage company, you can access your home's equity to supplement your monthly income without selling your house or changing how you live.
The Basics of Reverse Mortgages
A reverse mortgage is a specialized loan that allows seniors to access their home's equity, providing them with additional cash flow to support their living expenses and retirement needs. When you get your reverse mortgage, you can use the money however you see fit, including as a:
- Way to pay for unexpected expenses: Reverse mortgages can provide a source of funds to cover unexpected costs, such as vehicle maintenance or emergency home repairs.
- Tool for estate planning: If you are approaching retirement and want to ensure your children or grandchildren have the opportunity to inherit your home, you can use your reverse mortgage to help protect that asset while still affording other expenses associated with aging.
- Method of funding other investments: Take the proceeds from a reverse mortgage to cover your daily costs so you can let other assets mature instead of prematurely withdrawing them.
Reverse Mortgage Advantages
Leverage your home as collateral by using your reverse mortgage to:
- Get relief from mortgage payments: With an HECM reverse mortgage, you can reduce your monthly mortgage payments by receiving a lump sum payment or a line of credit while enjoying more flexibility in your payment schedule.
- Receive extra income without selling: A reverse mortgage allows you to leverage up to 60% of the home's value after an appraisal, tax-free.
- Gain peace of mind knowing you can stay in your home: As long as borrowers meet the reverse mortgage requirements, they own and live in their home for as long as they want.
Do You Qualify for a Reverse Mortgage?
You may be eligible for a reverse mortgage if you:
- Are 62 or older.
- Have equity in your home.
- Live in the home as your primary residence.
- Have enough income to cover your property taxes, insurance and other fees.
Navigate Your Reverse Mortgage With Senior Lending Corporation
At Senior Lending Corporation, your local Tallahassee reverse mortgage company, we're ready to help you determine if you qualify and could benefit from this financial tool.
Our team consists of fully-licensed reverse mortgage advisors who have been helping people like you for years. We understand what it takes to get the most out of your retirement funds, and we want to see you secure your finances and enjoy continued peace of mind.
If you live in Tallahassee or other regions in Florida, we can help! Our team is ready to answer any questions or concerns as you go through this process.
Get in Touch With Your Local Reverse Mortgage Company
Call 800-822-1190 today to reach us at Senior Lending Corporation and learn whether a reverse mortgage will help you get the most out of your retirement years.