Loans come in different sizes, and carry different terms. While one might be the perfect fit for your financial needs, many others will be ill suited to your circumstances and plans. Homeowners who are 62 and older are eligible for a type of loan known as a reverse mortgage. Recent changes in Texas law mean that in addition to the Home Equity Conversion Mortgage (HECM), you have access to Equity Elite and Equity Elite loans. While you can find the idea appealing, you may worry about the commitment you make, as well as how your reverse mortgage terms should be weighed against the amount of funds you receive.

FHL Texas can help you make a smart decision when it comes to taking out a reverse mortgage. One way we help is by making the different terms and loan options clear. With the right disbursement plan, you can find that your loan helps you with more than you initially anticipate. We can also help you understand how to use your reverse mortgage to lower your monthly obligations in ways that make budgeting easier and less stressful. By bringing your questions to us, we can help you better appreciate what this kind of support can offer, how you fit the loan requirements, and what you can do to see the most value in your terms. (more…)

People build their savings in different ways. One way to grow your net worth over time is to become a homeowner, something that provides you stability and a place to call your own along with the opportunity to grow your equity. For qualifying homeowners ages 62 and older, the equity built up through the years can help you enjoy significant financial support, as you can pursue a reverse mortgage. This is a kind of loan that does not require regular payments on your end—instead, you will continue to receive money, which you can use as you see fit. With these funds, you can prepare for retirement more easily, pursue new investment opportunities, make home repairs, or make any other choices that suit you.

Reverse mortgages offer flexibility in more than just how you use them. You can review different disbursal options and different plans to make sure that yours is truly what you need. FHL Texas provides valuable guidance to homeowners interested in this kind of loan. We can help you understand the value of choosing a traditional HECM loan or the new Equity Elite option, and we can help you decide on which type of disbursal makes sense for you in the long run. We offer this support in addition to guidance at the start of your inquiry to make sure a reverse mortgage will be the long-term financial plan that best serves you. (more…)

People look at their retirement in different ways, and that can affect the kind of work they need to put into preparing for life after work. Some will need to set more aside to create a travel budget, while others may have hobbies that require their own funding. Even a person who feels their plans are relatively modest can find that they need to save more than they anticipated to truly feel comfortable when they finish with their career. Advance planning matters, but many who feel they are ready to leave their income behind and live on savings find that they have more financial obligations than they anticipated. Fortunately, a reverse mortgage can help with this.

FHL Texas is proud to provide information and assistance when it comes to securing a reverse mortgage. By answering questions and giving more insight into what this kind of loan is and what it can do for you, we can help you understand how the equity you have in your home can give you the retirement you dream about. With more information and more insight into what you can do with your equity, you can better enjoy your time once you are no longer working. (more…)

As a homeowner, your residence provides more than just shelter—paying off your mortgage allows you to build equity. You can use that equity in different ways, which can prove key for financial matters like investing and retirement planning. One way to do so is to take out a reverse mortgage. People who qualify can use this as an opportunity to gain significant funds at a time when they are preparing to retire. While it is often used to help with post-work plans, you have control over what you receive, and you can put it toward other purposes.

FHL Texas can help you understand how this type of support might help you with your long term plans. We can also provide important information on what your terms do and do not require. One important note is that taking a reverse mortgage is not the same as selling your property. Your name remains on the title, so you keep control over your space and still have the ability to renovate or sell if you so choose. (more…)

The start of the new year can open you up to many new opportunities. It is also a great time to set important goals for yourself. Those Texas homeowners who turn 62 this year will become eligible for a reverse mortgage. If this group includes you, pursuing this type of loan is an exciting opportunity as well as a means of reaching your goal of successfully preparing for retirement or another financial milestone. With that said, it can be difficult to know just how much you stand to gain from doing so without the right information and guidance—fortunately, FHL Texas is here to help!

We provide different forms of support to those who are looking to buy a home as well as for those looking to use their equity and homeowner status to improve their finances. For those who qualify for a reverse mortgage, we can offer support in the form of information and counseling, as well as with the application process itself. What you can find is that by pursuing this kind of support, you can receive a significant sum of money based on the equity that you have built, which can help prepare you for life after work, serve as money for an enticing investment, and generally help you financially. (more…)

Homeowners who are at least 62 years old can potentially receive significant financial assistance from a reverse mortgage. At this stage in life, many people will be thinking about what they need to do to have a secure and enjoyable retirement. You can certainly look to your reverse mortgage to help with this, but the loans available to you help with more than just preparing for life after working. Many people express interest because they have different goals in mind, such as a plan to make certain investments, or an interest in renovating their home.

FHL Texas has helped many people gain a better understanding of what a reverse mortgage can offer them. We provide assistance throughout the application process, starting with important early reviews to make sure this is truly the right step to help you with your goals. Beyond helping with the application itself, we can talk to you about what different forms of support are available and how they can best help you in the long term. (more…)

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 reach the minimum age, there are rules concerning your current equity in your property, whether you live in or just own it, and even the designated type of residence. Additional expectations can make it harder to see clearly whether or not this is something you can apply for; it can also be hard for some homeowners to understand just what their reverse mortgage can offer them.

The guidance you receive from FHL Texas can help you understand the different rules and expectations for homeowners interested in reverse mortgages. We provide personalized support from the start of your inquiry to make sure this is something that is truly right for you. Beyond this help, we offer expert details on the different types of loans available and how they can be awarded. Applying for this kind of loan can offer significant help with retirement and other matters. When you speak with us about your interested, we can make sure applying is successful and in your long-term interest. (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 of loan lets you take advantage of the home equity you have built up through years of paying off your property. The sum you receive comes without the requirement to pay back against what you have received, and you can even modify how you receive what you qualify for to best suit your needs.

It can be exciting to hear what a reverse mortgage can do for you, but it can also be difficult to know just what to expect when you pursue one. FHL Texas provides important guidance for people who want to learn more about this kind of loan. In addition to providing a no-cost consultation, we provide helpful reviews and information to make sure this is a step you want to take. After confirming it will suit your needs, we can proceed to help you secure the right reverse mortgage for your retirement! (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. You can also find that you still own your home, and you can even retain the right to sell it or pass it onto an heir!

FHL Texas is prepared to help you learn about the different benefits of reverse mortgages. We can also help you understand how they are awarded and what terms you can set. The right arrangements can help you in exciting ways. Whether you have immediate plans for what you receive or you want to secure your loan now in preparation for the future, we can make sure your reverse mortgage and terms are truly right for you. (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 you may not realize is that a borrower can select from different terms that dictate what they receive and when. Due to recent rule changes for Texas property owners, there are also alternatives to the traditional government-backed HECM option that has been offered to borrowers.

Guidance from FHL Texas can make it easier for you to both confirm that this financial step is right for you and see what terms best suit your needs. Our experience in these matters helps us find the right terms for borrowers. We can also help you confirm that this is the right step for you, and help you determine if this is the right time to move forward with your plans to receive this kind of support. (more…)