Reverse Mortgage Loans on the Cheap!

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The Lowdown on Reverse Mortgage Loans...

Reverse Mortgage loans are for homeowners having age 62 or older so that they could convert their home value into cash or monthly payments without the need of selling or moving. The Department of Housing and Urban Development (HUD) or Federal Government allows senior Homeowners to borrow against the equity of their home or buy a new home based on the value or buying price of the new property.

Now, you can enjoy your whole retirement with the help of a Reverse Mortgage loan. However, to know how this works before applying check out a few things.


How senior reverse mortgage home loans in Texas works:

  • Qualified homeowners are eligible to choose to receive tax-free payments from the reverse mortgage lenders on monthly basis, a lump sum, or a line of credit.
  • Verification of income, assets, and liabilities will be processed.
  • No requirement to repay until one borrower lives in their home as well taxes, insurance, and HOA are timely paid and the home is kept in good condition.
  • Medicare and social security advantages are not affected.
  • Reverse mortgage lenders recovers all the amount, interest, and mortgage insurance when the last homeowner passes away. They can choose to sell the home or can be purchased by other family members.
  • When the loan is cleared, all the equity which is associated with the property will be distributed to your heirs based on the terms and conditions of the mortgage.

Why Reverse Mortgage Home Loan?

With the help of a reverse mortgage, seniors get a valuable tool that can be utilized as a strategy for their financial planning for retirement. Plus, no monthly payments are required to pay and still you remain the owner of your home.

Do I Qualify?

  • The homeowner must be 62 or older
  • At least one homeowner must live in their home.
  • Should complete HUD-approved counseling session
  • Eligible to pay off taxes, insurance, and HOA fees.

How do I apply?

To apply for senior reverse mortgage loans in Texas, you will be required to submit all the details and documentation to the lender. This information will help them to determine and verify whether you are qualified to borrow or not.

We are here to make it easier for you and guide you starting from a FREE Reverse mortgage qualifier, where you can check for your qualification.

  • Fixed Rates
  • Adjustable Rates (ARM)
  • 3.5% Down Payments
  • Jumbo & Super Jumbo Loans
  • Terms from 5 to 30 Years

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