How Can You Use HECM Proceeds?

HECM proceeds dallas tx

Sometimes, you want to be able to use your savings for an investment, but if it is tied up in your home, you could be left without the opportunity. For seniors who have reached the age of 62, there is an additional financial tool to help individuals to manage their money, and reverse mortgages are becoming a popular way for seniors to convert their home’s equity into HECM proceeds that they can use how they want.

At Family Home Loan Texas in Frisco, TX, we know how important it can be for North Texas families to have the information they need about HECM loans. These are specific reverse mortgages that have the backing of the federal government, and the Federal Housing Administration insures them. This means that you have a reverse mortgage option that you can trust, and our team is here to help you to understand your options. To find out more about how you can use your HECM proceeds, give us a call and schedule a time to talk!

Boost Your Retirement Savings With A Reverse Mortgage

Home Equity Conversion Mortgages, commonly called HECM loans, are a way for people who have reached the age of 62 to convert their home’s equity into capital. HECM proceeds can be used for a variety of ways, and the most popular is as an avenue to boost retirement savings. This can be a real help for seniors looking to do more with their money.

This is not the only way that a HECM loan form of a reverse mortgage can help. When you convert your home equity into liquid capital, it gives you options with how you handle your money. There are other possibilities, as well, so talk to our team about your options.

HECM Proceeds Can Help You Purchase A Second Property

One of the primary advantages of a reverse mortgage is that it allows you to use your funds how you wish. For some, this means increasing their savings account, but for others, it can mean an investment. Many seniors are opting for this option in order to set the stage for passive income.

If you have been thinking about rental property in retirement, HECM proceeds can give you a head start. This means that now could be your opportunity to become a landlord, so ask about HECM loans for the purchase of a second home. The North Texas housing market is changing, and we simply do not have the properties that we need for our booming population.

Learn More About Reverse Mortgages With FHL Texas!

Are you ready to learn about your options? To find out more about how you can use your HECM proceeds, give us a call at FHL Texas in Frisco, TX at (214)447-7575!