Florida Reverse Mortgages
Florida FHA Reverse Mortgage Information
With so many baby boomers approaching retirement, many of these seniors are worried about outliving their money and are now searching if a reverse mortgage is right for their situation. For seniors who live in Florida, the most popular (by far) reverse mortgage program available is the FHA HECM reverse mortgage program. Seniors who have a reverse mortgage in Florida say they like their FHA reverse mortgage because it allows easy access to tax free retirement funds.
Florida FHA Reverse Mortgage Highlights
- Get your money either in a line of credit, monthly installments or a lump sum
- Make no mortgage payments as long as you live in the home
- Interest rates for the FHA reverse mortgage program can be either fixed or variable
Florida FHA Reverse Mortgage Program Requirements
In order to qualify for the reverse mortgage program, the following requirements apply: You must be age 62 or older, agree to keep the home in good repair, attend a reverse mortgage counseling session, have equity in the home and plan to occupy the home as your primary residence. Qualifying for the FHA reverse mortgage program is simple if you meet these criteria.
Florida FHA Reverse Mortgage Program: The First Step
In order to learn more about the FHA reverse mortgage programs and to see if one is right for you, be sure to speak with a loan officer who has experience with Florida FHA reverse mortgages and who will help you find out if it is right for you. Speak with an experienced Florida FHA reverse mortgage loan officer now!
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