When homeowners turn 62, they pass the age requirement to receive a reverse mortgage. Does this mean that anyone whose name is attached to a property automatically qualifies for this kind of loan? There are additional requirements that you should know. Aside from the need for everyone whose name is on your property title to… Read more »
As your intended retirement date nears, it can be reassuring to know that you have as much—or more—set aside to fund the life you want to live after you finish working. For many Texas homeowners aged sixty-two and older, a reverse mortgage can help ensure that money is available for a dream retirement! This kind… Read more »
The questions people have about reverse mortgages can range from matters of how to qualify to concerns about what an agreement really involves. As you look into the process, you can find that this is a kind of loan that lets you turn your home equity into something you can spend as you see fit…. Read more »
When it comes to reverse mortgages, different homeowners are eligible for different sums. The amount that you receive will depend on your current equity, the appraisal of your home, and on the current interest rates. It may not surprise you that these different factors will affect how much you are offered by a lender. What… Read more »
Whether you want to enjoy your time with your family, see the world, or simply kick up your heels and relax, your retirement can be a truly special time. Of course, it is also a life stage that requires thoughtful saving and planning. For Texas homeowners over the age of 62, a reverse mortgage can… Read more »
There is a fixed age requirement to qualify for a reverse mortgage—before you can apply, everyone whose name is on your home title needs to be at least 62. With that said, you may have already reached this age, but you can still feel as though you are not at the point in your life… Read more »
When homeowners reach the age of 62, they become eligible for a type of loan known as a reverse mortgage. In addition to the traditional Home Equity Conversion Loan (HECM), Texas residents can now also enjoy access to Equity Elite and Equity Elite Zero loans. What these loans do for people varies by their needs—for… Read more »
Do you really have the right idea about reverse mortgages? Myths around what they “actually” require can lead eligible borrowers to miss out on important financial support as they near retirement age. Fortunately, you can count on FHL Texas to clear up misinformation and provide more details on what these loans can actually do for… Read more »
Homeowners who near retirement age can benefit from finding more sources for financial support. Many will qualify for a reverse mortgage when they reach the age of 62, which means they can rely on the equity in their home to make money they can spend. What stops people who qualify from moving forward with this… Read more »
Retirement planning should take place years before you actually reach the point where you are ready to stop working. Saving money and investing wisely will help you grow your nest egg and enjoy a comfortable life away from the office. For homeowners who qualify, a reverse mortgage can also be a welcome form of retirement… Read more »
