Florida Reverse Mortgage Lender
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(Discuss your options with an expert!)
Call (561) 203-6772 to speak with our Experts!
Learn More about how reverse mortgages work!
About Reverse Mortgages
To apply for a reverse mortgage you must be at least age 62 years or over. The most popular type of reverse mortgage is known as the Home Equity Conversion Mortgage (HECM), a Federal Housing Administration (FHA) loan.
Reverse mortgages can be used to payoff a current mortgage and convert a percentage of your home’s equity into a line of credit, payments or a lump sum draw at closing. Although no monthly mortgage payments are required, you’re still responsible to maintain the home and paying property taxes, homeowners insurance and any HOA or Condo dues that may apply.
Who’s eligible for a reverse mortgage?
To be Apply for a Reverse Mortgage;
- At least one applicant must be 62 years of age or older.
- The home must be your primary residence
- Have sufficient home equity or down payment if purchasing a home
- You must meet the financial assessment requirement
- You must receive 3rd party Counseling
What types of homes are eligible?
The home must be a Single-family residences, 1 to 4 unit home, an approved condominium or townhouse or a double or triple wide manufactured homes that meet FHA guidelines. To verify if your property is eligible, contact us today at (561) 203-6772 to speak with an experienced professional!