Miami Reverse Mortgage

apply-now-todayReverse mortgages are financial instruments that are particularly available for senior residents. In a reverse mortgage, part of your home equity is given to you in cash or paid to you which you can use. This sort of mortgage is extremely beneficial for the elderly because there is no risk of default and the money that you get is tax free.

Benefits of the Miami Reverse Mortgage:

• There are no interest rates or monthly payments.
• The borrower only pays back the debt when he has sold off the property or is no longer living in it for over a year.
• You can use the money that you get for any purpose whatsoever. There are no restrictions.
• Your home is guaranteed to be yours for as long as you want it to be.
• When you repay the loan, you would not have to repay more than your home’s value, no matter what the reverse mortgage lenders paid you.
• The money is tax free.

Eligibility and Conditions for the Miami Reverse Mortgage:

Miami reverse mortgage is applicable for homeowners who:
• Are 62 years of age or older
• Own a home completely or with low remaining mortgage balance that can be paid off with the reverse mortgage
• Have the financial resources for paying the ongoing property charges
• Are currently living in their home.
• The home must be a single family home or a home that is 2 to 4 units with at least one unit that is occupied by the borrower

If you want to know more about Miami Reverse Mortgage, why not call First Nationwide Lending at (877) 442-4023? They will give you all the information related to it and will answer all your questions.

First Nationwide Lending offers a variety of Miami mortgage loans, including, but not limited to: purchase mortgages, refinance loans, FHA home loans, USDA mortgages, jumbo mortgage loans, HARP 2.0 mortgages, VA loans, and reverse mortgages.

 

Contact Us

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1990 Main Street, Suite 750
Sarasota, FL 34236
Phone: (941) 256-3729
Toll Free: (877) 442-4023

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