As you approach your retirement years, your finances are likely at the front of your mind. Living in El Paso offers you many great opportunities, and with a reverse mortgage, you can experience them all. As El Paso’s local reverse mortgage company, Senior Lending Corporation understands your needs, and after years of working in your community, we have the knowledge to guide you through the entire application process with ease.
A reverse mortgage is a loan that lets homeowners do more with their money. As you pay off your mortgage, your home gains equity — an increasing market value. A reverse mortgage takes that equity and turns it into cash, essentially allowing you to take that value in spendable funds. You can use these funds for a range of needs and wants — we’ve watched clients pay bills and living expenses, renovate their homes and take family vacations.
Home Equity Conversion Mortgages (HECMs) are the most common reverse mortgage, and they are federally insured by the Federal Housing Administration (FHA). This measure makes it more accessible to people in many financial situations. Once you’re approved, you can repay the loan in your own time and face minimal interest rates for doing so. For most older adults who own a home, a HECM is the best option to maintain financial security once income from their employment is no longer enough.
Watch the “Blind Test” video to see why over 1 million retirees have chosen a HECM Reverse Mortgage Line of Credit!
A reverse mortgage offers numerous benefits for seniors:
To qualify for a reverse mortgage, you must be a homeowner and at least 62 years old. The home must be your primary residence, and you need to have sufficient equity in the property to fund the loan. Applicants must also complete a counseling session conducted by a federally insured agency.
There are 5 main steps to the reverse mortgage process. The entire process can all be done from the comfort of your home or in person whichever you prefer.
When you select us to be your El Paso reverse mortgage counselors, you get experience — we’ve been helping seniors enjoy a more comfortable and financially comfortable retirement since 1998. We’re fully licensed in El Paso and throughout Texas.
Our trained and professional experts are here to assist you every step of the way. You’ll work closely with a personal advisor who will guide you through the entire process, ensuring you get timely, accurate answers to your questions.
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