If you are like many seniors, then a big part of your net worth is tied up in real estate. Unfortunately, for most people, this real estate is their home! When you want to have more control of your finances, talk to a team of trusted financial advisors about whether a reverse mortgage is right for you. This method works in a little different way than most home loans, so understand all of your options with an appointment with an expert.
With our team of financial advisors and loan originators at FHL Texas, you have a dedicated guide to all of your options, including an FHA-backed HECM loan. This is commonly called a reverse mortgage, and it helps you to convert your existing home equity into liquid capital that you can use. When you want to have more freedom and flexibility with your finances, talk to our team about the advantages and risks of a reverse mortgage. Some seniors are even using reverse mortgages to buy a second home!
Convert Your Home Equity Into Cash That You Can Use
When you reach the age of 62, you have a new financial tool that can help you to make the most out of your money. An FHA-backed HECM loan is a way to convert your existing home equity into cash that you can use in a variety of ways. If your money is tied up in your home, this can be a positive way to increase and diversify your retirement portfolio.
For some, home equity conversion can help to buy a second home for personal or investment uses. If you have been thinking about renting out a home or apartment as a means of passive income, talk to our team about whether a reverse mortgage is the way to help you achieve your goal. Many seniors are taking advantage of HECM loans to buy additional property!
Keep More Control Over Your Finances With A Reverse Mortgage
Another advantage of a reverse mortgage is that you can have more of a say in how you invest your money. The real estate market has been traditionally a great place to store your investment, but you may have different ideas. With an FHA-backed HECM loan, you can take control of your financial decisions by converting your home equity into capital. From boosting your retirement account to purchasing a new home, talk to our team about your options.
Learn More About Reverse Mortgages With FHL Texas
Discuss your financial options after reaching 62 with an appointment with our team. To set up a meeting to talk about the advantages and risks of an HECM loan reverse mortgage, give us a call at FHL Texas in Frisco, TX by calling 1-800-990-LEND(5363)!