Reverse Mortgages And A More Flexible Retirement

reverse mortgages frisco tx

If you are like many in North Texas, then a substantial portion of your net worth is housed in your housing. While this has generally been viewed historically as a safe and stable way to grow your money, it means that it is a little harder to access your capital when you really need it. Whether you are looking for a new investment or a way to boost your retirement account, having that money available to you can be an important part of your retirement plan, particularly if you are looking to retire in place.

At Family Home Loan Texas in Frisco, TX, we understand the world of reverse mortgages, and we are here to help you to understand your financial options. HECM loans are becoming a key tool for many seniors across the country, helping them to convert their home equity into capital that they can use for a variety of purposes, including home repairs to make sure that you can safely reside in your home as you age. To find out more about whether a HECM loan is right for you, talk to our team today!

Reverse Mortgages Can Be A Tool In A Retire In Place Strategy

Since reverse mortgages help you to convert your current home’s equity into cash that you can use how you would like, there are multiple ways that they can be helpful for retirees. Some families even use these to purchase a second home, either as an investment vehicle or simply as a way to have a place closer to the family. But they can also be a way for you to stay in your home after retirement.

Retiring in place is a concept that has gained in popularity over the last few years. This concept centers around the idea that remaining in your home after ending your career brings substantive benefits, including familiarity and a connection to your community.

Uncovering The Value Of HECM Loans In Retirement

So then, how exactly are reverse mortgages helping seniors to retire in place? A HECM loan is a specific form of reverse mortgage that is backed by the Federal Housing Administration, and they provide versatility through a cash infusion. These also allow you to retain the deed through the life of the loan, giving you peace of mind that you will be able to continue living in your home as long as you continue paying all applicable taxes, so ask your financial advisor if a HECM loan reverse mortgage is an option for your family.

Learn More About HECM Loans With Family Home Loan Texas

When you want to know more about reverse mortgages in North Texas, our team is here to help. Give us a call today at FHL Texas in Frisco, TX at (214)447-7575!