We Are Reverse Mortgage Experts
Reverse Mortgage Requirements
Let us show you in person, not tell you over a phone call, how a reverse mortgage can help you live the retirement you deserve
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We Serve North Florida And Baldwin County Alabama including:
Fort Walton Beach
and Surrounding Areas
Why a Reverse Mortgage?
- Create an alternative source of income.
- Eliminate any “Out of Pocket” monthly mortgage payments.
- The Borrower may remain in the home for as long as he wishes to.
- Title stays in the Borrower’s name.
- There is no equity sharing with the lending bank which means the borrower gets full advantage of rising property value.
- Purchase a new primary residence without having to pay a monthly payment to repay the loan.
- Can be applied on Condos, SFR’s, 1-4 Units, & PUD’s.
- Available with Forced and ARM Rate Types.
- For purchase and refinance.
- We offer flexible payments.
How a Reverse Mortgage in Florida Works
A reverse mortgage differs from a conventional loan in several ways. A conventional loan requires monthly payments and a down payment from the buyer to the lender upon purchase. The home equity increases with every payment until the mortgage is paid off. With a reverse mortgage, the homeowner has no payment obligations on a month-to-month basis. Because the loan is typically used to downsize or relocate a residence, the owner has access to the home equity in the previous home and can use the equity in a variety of ways: a lump sum of cash, a monthly income, or a line of credit.