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Reverse Mortgages in Titusville, Florida

Located in the heart of Florida’s captivating Space Coast, the city of Titusville provides easy access to the Kennedy Space Center, the Indian River and other popular attractions. Older Titusville residents could benefit from a reverse mortgage from Senior Lending Corporation to enjoy a more financially secure retirement.

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What Is a Reverse Mortgage?

A reverse mortgage is a loan instrument designed for older homeowners. The loan company uses your home’s built-up equity to provide you with cash, typically as a lump sum, a line of credit or a combination of the two. Unlike traditional loans, reverse mortgages don’t require monthly payments — the balance is due when vacating the property. 

While you don’t have to make regular payments on a reverse mortgage, you do have to comply with other criteria. You’re still responsible for maintenance, insurance, property taxes and homeowner’s association dues, if applicable.

What Are the Advantages of a Reverse Mortgage?

Getting a home equity conversion mortgage offers several financial and lifestyle advantages:

  • Reduced expenses: Use the funds to eliminate credit card debt, pay bills or cover other costs to obtain more financial breathing room. 
  • More fun: If you’ve dreamed of traveling for picturesque vacations, owning a certain automobile or taking an extended road trip, a reverse mortgage can help you make it happen.
  • No tax issues: You won’t have to pay taxes on the reverse mortgage funds because the IRS considers them to be loan proceeds instead of income.
  • Help loved ones: You could take out a reverse mortgage to help a child or grandchild fund their education or improve their financial standing in other ways.
  • Protects your retirement: If you’re already retired or planning to do so soon, a reverse mortgage can help fill the gaps left by your missing income.

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Basic Reverse Mortgage Requirements in Titusville

Reverse mortgage applicants must be at least 62 years old and have enough accumulated equity in their home to satisfy the provider’s requirements. The home must be your primary residence, not a secondary or vacation home or a rental property.

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Why Choose Us From the Other Local Reverse Mortgage Companies? 

Senior Lending Corporation offers years of local reverse mortgage experience and expertise you can trust. You never have to worry about hidden fees or add-on charges. We’re licensed in Titusville and throughout the entire state of Florida to serve you. 

Discover what separates us from the other Titusville reverse mortgage companies when you call us at 800-822-1190 or contact our team online.