Reverse Mortgages for Fort Worth
As you approach your retirement years, your finances are likely at the front of your mind. Living in Fort Worth offers you many great opportunities, and with a reverse mortgage, you can experience them all. As Fort Worth'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.
What to Know About Reverse Mortgages in Fort Worth, Texas
Your home is probably your largest asset, and as you've paid it off over the years, it has built up significant equity. Throughout retirement, you can use this equity to your advantage. With a reverse mortgage, you use your home's equity as collateral and receive a payout from your lender to use at your discretion.
There are several kinds of reverse mortgages, but the most popular by far is the Home Equity Conversion Mortgage (HECM). It's the only type of reverse mortgage that is federally insured, which makes lenders more willing to work with people who may not qualify for other loans given their financial history.
To qualify for a HECM reverse mortgage, you'll need to meet these requirements:
- Be age 62 or older.
- Use the single-family home that is your primary residence.
- Have enough equity in your home to use as collateral.
The Benefits of a Reverse Mortgage in Fort Worth
Most people apply for a reverse mortgage because they have something in mind to use the extra funds for. Because there's little limiting what you can put the money toward, people have used their reverse mortgage for:
- Funding their retirement.
- Paying off credit card bills.
- Going on vacation.
- Renovating or repairing their home.
- Building an emergency fund.
Whatever you choose, you can do it with ease knowing you have extra funds to take care of anything that comes up.
Why Choose Senior Lending?
When you choose Senior Lending's reverse mortgage advisors, you're working with the most trusted experts in the industry. Each of our advisors is licensed and certified to work in Fort Worth and the rest of Texas after gaining years of experience in reverse mortgage matters. We make the process as easy as possible and flexible enough to fit into your busy schedule.
Our goal is to help you feel confident by guiding you through every step of the application until the matter is settled and the money is yours. We'll start by scheduling you an appointment for a counseling session. This session ensures you have the facts about HECMs and can ask all your questions. From there, we'll move through the application process as quickly as possible so you can start funding your future today.
Start Your Journey to a Reverse Mortgage Today
Whether you're just starting your exploration into HECMs and reverse mortgages or you're ready to apply, Senior Lending is prepared to offer a hand in any way you need. Ask your most pressing questions through our online contact form or speak to one of our licensed advisors at 800-822-1190 now.