Real estate tends to be a stable place to see financial growth, and that is one of the reasons why it is such a popular way for people in North Texas to invest their money. This is a long-term investment, however, meaning that if your net worth is tied up in your home, you could be looking for a way to free up some capital for other projects. When you reach the age of 62, you have an additional tool at your disposal which helps you to convert your home equity into cash that you can use how you see fit.
At Family Home Loan Texas in Frisco, TX, we know that seniors are using reverse mortgages to their advantage more than ever before. Our team also understands that having the right information is the best first step. If you have heard about reverse mortgage and would like to learn more, give us a call to find out how homeowners at the age of 62 or older are finding financial flexibility with HECM loans, a reverse mortgage solution that is backed by the Federal Housing Administration. Our helpful loan originators are here to help, so reach out to FHL Texas today!
Reverse Mortgages Convert Your Home Equity Into Usable Capital
Reverse mortgage advertisements are everywhere online and on TV, but when you want to know details, it is important to gather the right information. These loans operate a little differently than your traditional home loans do, and a trusted financial advisor can help you to understand whether they are a good fit for your finances. Instead of making a monthly payment to your lender, you can see the benefits now, and then pay off the loan with the proceeds when you decide to sell the home.
HECM Loans Are A Federally Insured Reverse Mortgage Solution
When you decide that converting your home equity into capital is the right move for your family, take some time to learn about HECM loans. These are a specific form of reverse mortgage that has the backing of the federal government. Having the support of the Federal Housing Administration can help you to feel secure in your decision, so these have become a popular option for those who have reached the age of 62.
HECM loans can be used for a variety of purposes, starting with a boost to your retirement account. But they can also be used in other ways, such as purchasing a second home or making necessary repairs.
Find Out More With Family Home Loan Texas!
Want to know more about how reverse mortgages convert your home equity into usable capital? To learn more about HECM loans, speak with our team at FHL Texas in Frisco, TX by calling (214)447-7575 today!
