A reverse mortgage is something many homeowners seek out when they want to make sure they have everything they need to retire comfortably. Does this mean that the loan is only intended to help people transition away from work? You should know that you have real freedom when it comes to the money you gain from your reverse mortgage. You can use it to have more money available after you retire, but you can also use it to fund home renovations, support friend or family members in need, or enjoy more vacation time!

FHL Texas is ready to help you as you explore the benefits to securing a reverse mortgage. We provide early guidance before homeowners have committed to anything, so we can help you make sure this is the right decision for you and learn what you can do with the funds that you receive. Our guidance can also help you explore your options—there are several ways to collect on your reverse mortgage, and recent changes in Texas law have made more types of these loans available. (more…)

When it comes to your retirement, you should put time and effort into planning when to leave the working world and determining how much you will need saved in order to do so. Unfortunately, even with careful planning, many retirees will have at least one significant, unanticipated cost to address. In some cases, the amount of money they need to spend in these situations can jeopardize their overall retirement plans! One way to make sure you have the financial stability you need to truly finish working is to take out a reverse mortgage, a kind of loan that will see you receive consistent payments to be used as you see fit. FHL Texas has experience working with homeowners who are approaching the end of their working years who want to make sure they enjoy true financial stability. We can help you understand what terms and loan types are available, and we can help you confirm that a reverse mortgage will work with your retirement plans before you make any commitments. (more…)

Homeowners enjoy greater control over their living space than renters, which can help them establish it as a place where they feel truly comfortable. Over the years, you may have introduced several changes by repainting, changing your flooring, and even remodeling. Letting go of your space and the work you put into it can be difficult, but you may feel that doing so in order to sell your home is your only option for turning your equity into something that can help you secure retirement funds. What you should know is that a reverse mortgage lets you borrow against that equity and receive a helpful sum of money while remaining the owner of your home!

FHL Texas has experience with the reverse mortgage process, and we can help you determine if it is the right one for you. It is helpful to know what you gain from this kind of support, and what it does and does not require of a homeowner. We can also help you explore the different kinds of loans that are available to help you secure one that is best suited to your needs. (more…)

Because they only have limited information—or they have the wrong information—some eligible homeowners never pursue a reverse mortgage. What can you lose by not looking at the benefits of this kind of loan? Many people who near retirement age start to wonder if they really have enough to support their post-work plans. Others may discover that unexpected medical costs and other expenses have cut down what they had set aside to support them.

With a reverse mortgage, you are able to borrow against the equity you have built up through the years you spent paying off your home. With this support available to you, it becomes easier to support yourself at a time when you no longer have regular income! FHL Texas has helped many people understand what a reverse mortgage could offer in terms of retirement support, securing funds for investment purposes, and more. We are happy to help you understand how a loan can be used to help you and what terms you should consider. (more…)

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…)