You have spent your lifetime planning for your retirement years. What if you could make more of your retirement dreams come true?
A reverse mortgage loan lets you tap into your home equity to increase your cash flow during your golden years.
What is a Reverse Mortgage Loan?
A reverse mortgage loan is a special lending product just for senior homeowners. When you take out a reverse mortgage loan, you borrow against your home equity.
You can use the cash flow from a reverse mortgage loan for any purpose, and you can remain in your home for as long as you wish.
Freedom, Stability, and Peace of Mind
Your lender puts no restrictions on how you use your reverse mortgage loan money.
Here is what some of our customers do with their reverse mortgage loan funds:
- Repair or upgrade a home.
- Make a down payment on a second home or vacation home.
- Buy a new automobile.
- Repair an existing automobile.
- Go back to school or pay for a family member’s education.
- Finance a startup.
- Pay off old high-interest debt.
- Pay for medical expenses.
- Go on a trip.
- Create an emergency fund.
- Pay ongoing bills.
While those are some of the most common ways that seniors use money from reverse mortgages, you are not limited to those ideas. It is 100% up to you!
Benefits of a Reverse Mortgage Loan in Kentucky or Florida
- The income from a reverse mortgage loan is completely under your control. You decide how to save or spend it.
- Usually, the reverse mortgage loan income is not taxable (consult with your tax professional to check whether this will be the case for you).
- The reverse mortgage loan funds can be disbursed to you as a lump sum, a line of credit, or in instalments.
- Reverse mortgages only come due when there is a maturity event. Examples of maturity events include the sale of the house or the death of the last borrower.
- There is no chance of losing your home by taking out a reverse mortgage loan. You can live in your home for as long as you want.
Do You Qualify for a Kentucky or
Florida Reverse Mortgage Loan?
You can apply successfully for a reverse mortgage loan if you meet the basic requirements, which are as follows:
- You or another borrower must be age 62 or older.
- You must be current on all of your home maintenance payments.
- Your credit score, income, and tax history must be assessed.
- The equity you are borrowing against has to be in a primary residence, not a second home or vacation home.
Get More From Your Golden Years
Are you ready to enjoy greater financial flexibility and make more of your retirement dreams come true? To apply for a reverse mortgage loan now, please give us a call at (502) 327-9770 in Kentucky or at (239) 766-8344 in Florida.