What Exactly Is A HECM Loan?

hecm loan frisco tx

If you are like many homeowners in North Texas, then you have a significant portion of your net worth tied up in your real estate. While the housing market has long been seen as a safe and stable way to grow your money, this approach leaves you without the ability to use your money when you need it. For those who have reached the age of 62, there is an additional tool available to help with financial flexibility called a HECM loan form of a reverse mortgage.

Here at Family Home Loan Texas in Frisco, TX, we can help you to better understand your options in reverse mortgage loans. These operate a little differently than traditional home loans, helping you to convert your existing home equity into capital that you can use for a variety of purposes. HECM loans are a specific form of this type of loan, and it brings you decided advantages through the regulation of the Federal Housing Administration. To learn more about reverse mortgages, follow along with our blog and give us a call to schedule a time to meet!

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HECM Loans And A Flexible Retirement

A Flexible retirement frisco tx

If you are like many North Texas families, much of your net worth is tied up in your home. While this can be a stable and secure way to grow your money, it also means that you do not have access to it whenever you need it. For people who have reached the age of 62, there is an option that can help you to convert your home’s equity into cash that you can use to enjoy a more flexible retirement. Seniors across the country are taking advantage of this for a variety of reasons, from purchasing a second home to paying off their first mortgage.

At Family Home Loan Texas in Frisco, TX, we want to make sure that you know all of your options when it comes to using your home equity. HECM loans are a specific type of reverse mortgage that is backed by the Federal Housing Administration, giving you the security of a loan that is insured by the federal government. If you want to learn more about reverse mortgages, talk to our team to discover how they may be able to help you enjoy a more comfortable retirement.

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Free Dallas Events For The Whole Family

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Are you struggling to find something fun to do this weekend? If you are looking for events for the whole family, our team is here to help. From live fine art painting to flea markets and art fairs, Dallas-Fort Worth always has excitement just around the corner, and we want you to find something that fits your style. Here at Family Home Loan Texas in Frisco, TX, we love the Metroplex, and there are some great things going on this weekend!

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Uncovering Reverse Mortgage Myths And Misconceptions

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With all of the discussion about reverse mortgages these days, it can be hard to know the truth. If you have heard about them, take some time to talk to your financial advisor about whether one is right for you. These have become a popular solution for those who have reached the age of 62, but it is important to know some of the specifics on how they work before you make a decision, and uncovering reverse mortgage myths can help you to do that.

At Family Home Loan Texas in Frisco, TX, we have seen some of the ways that reverse mortgage loans can benefit seniors looking for more flexibility in their retirement. HECM loan reverse mortgages operate in a different way than traditional home loans by converting home equity into capital that can be used for a variety of purposes. With a HECM loan, you can remain in your home for as long as you’d like, and you retain the title for the life of the loan. Find out more about reverse mortgages with our trusted Metroplex team!

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You Have Possibilities With HECM Loans

possibilities Frisco TX

For many people, owning a home is a stable way to manage their money. When your net worth is tied up in your home, it can also feel limiting. Once you reach the age of 62, you have an additional tool at your disposal to manage your money in a different way. HECM loan reverse mortgages give you the ability to convert your home’s equity into cash, and you can use this in a variety of ways.

At Family Home Loan Texas in Frisco, TX, we are here to help you fully understand your options with HECM loan reverse mortgages. Whether you are looking for a more traditional use as a supplement to your income or if you are thinking about buying a second home, our team can help you to learn about the possibilities that can home with a reverse mortgage. Give us a call to schedule a time to talk!

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HECM For Purchasing A Second Home

second home frisco tx

If you have heard about reverse mortgages, you might be more familiar with their ability to help boost a retirement account, but there are other advantages to this kind of loan. Reverse mortgages help you to convert the home equity in your current home into cash that you can use for a variety of purposes, from providing much-needed financial relief to being an avenue for new purchases, including a second home.

At Family Home Loan Texas in Frisco, TX, we understand the possibilities that can come with more financial freedom. With an HECM loan, people who have reached the age of 62 have access to an additional tool in their toolbelt. By converting your home equity into capital that you can actually use, you can even purchase a second home, given that it does not become your primary residence. To find out more about reverse mortgages and how they may be able to help you in this new phase of life, give us a call!

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Things To Do In Dallas This Weekend

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If you are like us, you are ready for the weekend to start. There are just so many family-friendly and free events going on in the Metroplex, and even with it being a little colder than in the past few weeks, we are excited to get back to normal fun after the holidays. From an open house at the George W. Bush Presidential Library to Monday’s Martin Luther King, Jr. Day Parade, this is shaping up to be a fun time of year.

At Family Home Loan Texas in Frisco, TX, we are here for you and your family, and we love being a local source of financial information. If you have been thinking about your options, ask about the advantages of HECM loan reverse mortgages. These allow you to convert your existing home equity into capital that you can use how you decide. Give us a call today to learn more, or spot us at one of these fun events this weekend!

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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!

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Myths Surrounding Reverse Mortgages

HECM Frisco TXAs more and more seniors turn to HECM loans to have more control over their retirement accounts, there has been more discussion about them in the broader public. This also means that there are more misconceptions about them, and some of these can be difficult to dispel. In order to make the decision that is right for you, you should speak with your trusted financial advisor to learn exactly what they are and how they operate.

With our team of local Frisco, TX financial experts and loan originators at FHL Texas, you have a dedicated guide to the world of reverse mortgages. In the past, people tended to turn to these loans as a solution for when they needed money during retirement, but today, an FHA-insured HECM loan can be a way to do more with your net worth. If you are like most people at the age of 62 or older, then you have a substantial amount socked away in your home equity and using it how you want is possible through a reverse mortgage. Talk to your financial advisor to learn more and make the choice that is right for you and your family.

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Thinking About A Second Home? Learn More About Reverse Mortgages

Second Home Frisco TXOnce you reach the age of 62, you have an additional tool in your financial toolbox. This is called a HECM loan, which is a federally insured form of reverse mortgage, and it brings new possibilities to your portfolio. One way that seniors are taking advantage of this type of loan is in the purchase of additional real estate, either for personal use or as a way to generate some passive income.

When you want to know more, take some time to learn about your options with our team of trusted local financial advisors and loan originators at FHL Texas in Frisco, TX. We can help you to make sense of reverse mortgages and help you to decide if one is right for you and your family. If you are like most seniors, much of your net worth is tied up in your home equity. While this can have its advantages, it can also prevent you from being able to make that next significant investment. Talk to our team to learn about the advantages and risks of an FHA-backed HECM loan today! (more…)