If you are like many North Texans, then much of your net worth is housed in your house. While this can be a stable way to invest, it can also make it tough to spend that money for your comfortable retirement. Having some liquidity has value, and for those who have reached the age of 62, there is an avenue to convert home equity into cash that you can use how you see fit.
At Family Home Loan Texas in Frisco, TX, we help people understand all of their options when it comes to HECM loans. Many seniors are finding a more comfortable retirement through reverse mortgage loans, so ask your financial advisor if one could help you to experience a little more liquidity. And when you are ready to discuss your HECM loan options, we’re here to help you find the solution that works best for your needs.
Find out more about reverse mortgage loans. Call Family Home Loan Texas today.
How Do Reverse Mortgage Loans Work?
For seniors today, reverse mortgages are becoming an opportunity. While you might be familiar with them from years past, seniors are beginning to use them to achieve more in retirement, and there are some things to pay attention to. And if you have already turned 62, ask your financial advisor if one could benefit you.
With the ever-increasing cost of homeownership, some older individuals are using HECM loan proceeds to afford a comfortable retirement in the home where they feel, well, at home. Retiring in place takes planning and foresight to do well, and with additional capital, seniors can adjust to older living. Some people are using their proceeds to install ramps and other support so they can continue living at home.
Finding A Comfortable Retirement Through A HECM Loan
Retiring isn’t just about not working anymore: it’s your opportunity to fully enjoy all that life has to offer. When you are worried about your financial situation, then that could be tougher to do then you would like. But how could a HECM loan reverse mortgage help?
HECM loans are reverse mortgage loans that are backed by the Federal Housing Administration, giving you peace of mind that you have a trusted solution. They offer cash in return for home equity, without the need to pay back the loan on a monthly schedule. Instead, when you choose to leave the home, you can pay it off with the proceeds from the sale of the property. Find out more about reverse mortgage solutions, and see if a HECM loan is right for you.
Learn More With Family Home Loan Texas
If you’re ready to find out more about HECM loans, talk to our team about your possibilities. To find out more about reaching a comfortable retirement with a reverse mortgage, call FHL Texas in Frisco, TX at (214)447-7575!
