If you are a homeowner and at least 62 years old, you may be eligible for a reverse mortgage or home equity conversion loan (HECM). This loan allows you to borrow money from your home equity as tax-free income, which can help you during retirement, home repairs, and other financial needs. This can be a helpful option for many individuals, but there are a lot of misconceptions about this type of loan. In today’s blog, your team at Family Home Loan in Frisco, TX, is here today to help you understand the truth about reverse mortgages.

Aging or retiring in place is a concept that is simple, yet can bring a positive way to live that is comfortable and convenient. This approach aims to help seniors to continue living in their home after retirement, rather than moving to a dedicated retirement community. While each direction has its own advantages and disadvantages, more people than ever are looking to craft their own retire in place strategy, and planning is important in order to do it well.

With our team of local loan origination professionals at Family Home Loan Texas in Frisco, TX, you have a guide to the world of HECM loans. Reverse mortgages have become an integral part of the lives of many North Texas seniors, and we can help you to learn more about your options. These loans are insured by the Federal Housing Administration, and they can be used to fun home repairs, pay off a traditional mortgage, or even for the purchase of a second home. To find out more about HECM loan reverse mortgages, call our office today!

For many people in North Texas, a significant portion of their net worth is tied up in their own personal property. While this can certainly have its advantages, it can also mean that you do not always have access to capital when you need it, and that can make a real impact on the lives of those near or at retirement. A HECM loan reverse mortgage might be your solution to help you enjoy a more flexible future, but you want to learn about them before you make a decision.

At Family Home Loan Texas in Frisco, TX, we know the world of reverse mortgage loans, and our team is here to help you to understand whether they are right for you and your family. If you would like to learn more about how these non-recourse loans are helping some North Texans at or above the age of 62 to achieve a more flexible retirement, reach out and schedule a time to talk. To discover FHA-insured HECM loans, call us today!

If you are like many Metroplex families, then a substantial portion of your net worth lives in your housing alongside you. While this certainly can have its advantages, it also means that you cannot tap that resource when you need it to enjoy retirement fully. If you have been thinking about your options to convert your existing home’s equity into cash that you can use for a variety of purposes, make sure to take your time in researching the differences between reverse mortgages. Some are different than others, and you want to have the information before you make a decision.

Here at Family Home Loan Texas in Frisco, TX, we understand the value of a quality retirement. We also know that for some North Texas families, aging in place can mean making some important choices. HECM loan reverse mortgages are a solution that is aimed at giving seniors the opportunity to continue residing in their home as they grow older. Even more, this form of reverse mortgage has been backed by the Federal Housing Administration, giving you added peace of mind. To find out more about how a reverse mortgage can be an effective part of a retire in place strategy, give us a call today!

For many seniors, their primary asset is their home; while this has historically been a solid and stable investment, it can also mean limitations when you want to use your capital for a new investment such as another property or to use for your retirement. That’s why reverse mortgages were designed, helping those who have reached the age of 62 to convert the home equity in their current home into cash that can be used in a variety of ways.

At Family Home Loan Texas in Frisco, TX, we understand the world of reverse mortgage loans. We also understand the ways that North Texas seniors have been using these simple nonrecourse loans to their advantage. By converting home equity into capital that can be used to better the home or boost a retirement account, it can give you more control over your finances. To find out more about FHA-insured HECM loan reverse mortgages, talk to our team today!

For many families in North Texas, their net worth is housed in their housing. While there are some benefits to this approach, it also means that these families are unable to access that capital when they need to make improvements around the home or make an important investment. For those who have reached the age of 62, there is an option that helps you to convert your home equity into cash that you can use in a variety of ways, including paying off a traditional mortgage loan. Unfortunately, there are some myths and misconceptions surrounding HECM loan reverse mortgages, so we will dive into them today.

At Family Home Loan Texas in Frisco, TX, we understand that the financial landscape of North Texans is shifting, and we are here to help older individuals to navigate these changes in retirement. One of your options is a simple non-recourse home equity conversion loan, commonly called a HECM loan, which is a specific type of reverse mortgage that is insured by the Federal Housing Administration. It is important to gather all of the information before you make a decision, so if you have questions about reverse mortgages in the Dallas-Fort Worth Metroplex, give us a call today!