SPONSORED STORY
Are you considering a home equity loan (HELOC)? Today’s new, revamped Reverse Mortgage with a standby Line of Credit may be the solution to unlocking your home’s equity!
Even though home values are on the rise forward HELOC lending standards are still historically strict. If you’re a homeowner and you’re looking to access your home’s equity in a more efficient manner consider using a reverse mortgage with a standby line of credit!
There are several advantages to today’s FHA-insured reverse mortgage that may make it a potential alternative to a traditional HELOC:
– The underwriting process is limited to your ability to maintain taxes, insurance, and HOA dues.
– No monthly principal payments as long as it remains your primary residence.
– No prepayment penalties – make principal/interest payments if you desire and at your convenience.
– No term or set maturity date for the Reverse Mortgage Standby Line Of Credit – no monthly principal repayments required.
– The unused portion of the line of credit grows to help you keep up with inflation and life’s needs.
– Manufactured homes and FHA approved condominiums may also be eligible as well!
Are you younger than age 62 and considering a reverse mortgage? New product changes from FHA have made it possible for some married clients under age 62 to still qualify.
Also, current changes give most borrowers more access to funds at today’s interest rates than in the past – ask me for details.
To learn more about the recent changes to this versatile product that can help you live a better life please feel free to contact me.
Carolyn Fields, CSA, CRMP
(352) 454-3340
cfields@firstloans.net
NMLS # 323051
1st Financial Reverse Mortgages
NMLS # 130562
*Borrower(s) are responsible for all relevant property charges. Failure to remain current on all relevant property charges may cause the loan to be called into default per Federal regulations. The materials above are not reviewed or approved by HUD, FHA, or any Federal agency. All examples above are for illustrative purposes only.
This is a sponsored story. It does not reflect the views, opinions, or preferences of Villages-News.com or its staff. If you would like further information on this article, please use the contact information provided above.
