A More Flexible Retirement With Home Equity Conversion

flexible retirement frisco tx

If you are like many, much of your net worth is tied up in your home. While this can be a safe place keep your money, and you love your house, you might want to use some of this capital to supplement your retirement income. HECM loan reverse mortgages help you to convert your existing home equity into cash that you can use how you see fit.

At FHL Texas, our team of expert loan originators and financial advisors can help you to better understand your options. If you have reached the age of 62, you have an additional tool in your financial toolbelt, known as a HECM (Home Equity Conversion Mortgage). This gives you the ability to convert your home’s equity into usable capital. Talk to our team at FHL Texas today to learn more about HECM loan reverse mortgages!

Manage Your Money On Your Own Terms

When your net worth is significantly invested in your home, it is a bit of a double-edged sword situation. While the housing market has historically been a great place to store your capital, this is a long-term investment, and if you want to use your money now, it can become a difficult place to be.

If you have heard about reverse mortgage loans, have you fully explored your options? These help to convert your existing home’s equity into capital that you can use how you’d like. They are also becoming a popular solution for people who have reached the age of 62. Take some time to talk to your financial advisor to learn more about their advantages and see if one is right for you.

What Is A HECM Loan, And How Do Reverse Mortgages Work?

A HECM loan is a form of reverse mortgage loan that is federally insured by the Federal Housing Administration. These are only available to people who have reached the age of 62, and they are a popular option for those looking to convert their home equity into usable capital.

Reverse mortgages operate in a different way than with traditional home loans. With a HECM loan, you can receive a payment and pay off the balance when you decide to move out. You can either do this from the proceeds of the sale of the home or simply pay the balance. You do not need to leave your current property for a HECM loan, and you retain ownership.

Find Out More With Family Home Loan Texas!

When you want a more flexible retirement, talk to your financial advisor about a HECM loan reverse mortgage. To learn more about these loans, give us a call at FHL Texas in Frisco, TX at (214)447-7575 to set up a time to talk!