62 or Older? Your Home Equity May Give You More Options in Retirement
Refinancing a home mortgage can be a big decision for many homeowners. Your situation and needs change over time so why shouldn't your mortgage? Now might be the right time for you to refinance into a lower rate mortgage? Now might be the right time for you to refinance into a lower rate mortgage.
It's easy to understand why many people looking for a new home are turning to FHA insured loan. Because FHA Loans are insured by the Federal Housing Administration, homebuyers have an easier time qualifying for a mortgage. Those who typically benefit most by an FHA loan are first-time home buyers and those who have less than perfect credit.
A HECM reverse mortgage may help qualified homeowners age 62 and older access available home equity, pay off an existing mortgage, improve monthly cash flow, or purchase a new primary residence with no required monthly principal-and-interest mortgage payment. Whether you want to remain in your current home or move to one that better fits your retirement plans, a HECM may provide additional financial flexibility. Property taxes, homeowners insurance, occupancy requirements, property maintenance, and other loan obligations still apply.
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At Nexa Mortgage, our mission is to set a high standard in the mortgage industry. We are committed to quality customer service - putting the people we serve first. Our goal is to carefully guide you through the home loan process, so that you can confidently select the best mortgage for you and your family from the many mortgage options that are available today. After you select the loan that is best for you, we will work continuously on your behalf to help you achieve your dream of homeownership.