When you reach the age of 62, and your mortgage status makes you eligible, you can take advantage of the equity in your home through a reverse mortgage. Homeowners take advantage of this for different reasons: Many will look to it as a way to support their retirement, but it can also help with home renovations and repairs, medical costs, and more! In some cases, people who qualify will look into receiving this loan before they have a definite plan for its use. When market conditions are favorable, this can lead to better terms and a bigger sum. It can also help you make more in the long term by taking a reverse mortgage as a line of credit that will keep growing until you use it.

FHL Texas is ready to answer your questions and help you understand how a reverse mortgage can benefit you. With guidance throughout the application process and important information about the different kinds of loans available to you, it becomes easier to make the right choice. Whether you want to know if now is the right time for your reverse mortgage, how you can use your funds, or what to expect after it is received, we can help! (more…)

By securing a reverse mortgage, you will be able to secure significant money and see direct value from your home equity. Borrowers who meet the qualifications for this kind of loan can enjoy extra retirement support as well as assistance with monthly costs, savings to take on unexpected costs, and even the necessary finances to renovate and repair their living space. You might be surprised to learn that you can use the money to make changes to your property that you wish to see. People sometimes assume that by taking a reverse mortgage, they are losing their claim to their home, and that they are giving away their title. This is one of many myths that FHL Texas can help dispel as we provide useful information on the process of borrowing against home equity! (more…)

There are certain qualifications that need to be in place before you can seek a reverse mortgage. Borrowers need to be at least 62 to be eligible. While it is not necessary to own your property outright, you do need to have at least 50% equity in it and be prepared to pay off the original mortgage with the loan. Once you do qualify, it can be exciting to find out how your reverse mortgage helps you access significant cash at a time when you are thinking about retirement. At FHL Texas, we can help you start the process in the right way. A consultation at the beginning can field questions and concerns that you have. Before continuing with the application for a loan, you will meet with a Housing And Urban Development-approved specialist to confirm that this is the right move for you. These early steps are important, but they are not the only ones that call for extra guidance. We can provide the right guidance throughout the process and help you secure a loan that truly benefits you and your life plans! (more…)

While your post-retirement life is a great time to travel, it is also a smart time to think about how to make your home as comfortable as possible. In addition to having more time to yourself, you can start thinking about how you can ensure your living space will still accommodate you in later years. For some, the right accommodations will come from renovations. Making changes to your space can be costly, but it can have lasting value. Not only do you increase the value of your home, you make it a space that is more satisfying for you to enjoy.

There are different ways homeowners can cover the costs of home renovations. If you are over 62 and meet the right qualifications, a reverse mortgage can help cover this expense. Beyond being used as a way to prepare for retirement, a reverse mortgage can help you take on different costs, including those involved in repairs and modifications. FHL Texas can help you understand how you can employ the equity you have built to help in this and other matters. We can also guide you through the different terms and loan types available to make sure you receive the right kind of support from your reverse mortgage! (more…)

By making smart plans and good investments, you can prepare for a comfortable retirement. Unfortunately, even great plans can fall short when you face unexpected expenses after you finish working. For many people, medical bills and long-term care plans can make retirement more costly than anticipated. Fortunately, homeowners who qualify can use a reverse mortgage to borrow against their home equity and prepare for these and other later in life costs! If you are over the age of 62 and have at least 50% equity in your primary residence, this kind of loan can offer significant long-term benefits. FHL Texas has experience helping people determine how they can qualify and what they can receive. We can help you understand the terms available to you, clarify common misconceptions, and see to it that you gain lasting support from a reverse mortgage that truly suits your needs! (more…)

Once you turn 62, you reach the age of eligibility for pursuing a reverse mortgage. For many people, this means finally having the opportunity to turn home equity into something that offers a more accessible kind of financial support. However, it may not be an appealing option for everyone. One reason for this is that you may worry about how a reverse mortgage might interfere with plans to eventually sell the home you are in. If your goal is to live somewhere else, simply selling your home can have an obvious appeal. However, if you think a home sale is appropriate because it will be harder to retain the property after you retire, a reverse mortgage can help you stay in the space where you have built your life!

FHL Texas is prepared to help homeowners review their options when they reach the age of eligibility to apply for a reverse mortgage. There are different kinds of loan terms that are open to you that offer different advantages. In addition to helping you understand how you can access equity in different ways, we can also help you understand the freedoms that you retain with this arrangement. (more…)

Reverse mortgages have helped many people make use of their home equity. They offer welcome relief for those who have medical bills, costly repair projects, and other expenses that need to be managed. These mortgages have also made it easier for people to prepare for retirement by adding to their nest egg. For those who are sixty-two and older, this has been a source of relief and an opportunity to enjoy their retirement without economic worries. 

Family Home Loan Texas now offers new options for people who want to use their home’s value to help their finances. Thanks to Equity Elite and Equity Elite Zero, borrowers with higher-value homes and those who have concerns about closing costs can see more benefit from a reverse mortgage. Whether you pursue Equity Elite or the traditional reverse mortgage, you still enjoy the support of important protections provided to borrowers. (more…)