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Miami Reverse Mortgage

Reverse Mortgages are becoming very popular in the United States. A Miami reverse mortgage is a home loan that you do not have to pay back for as long as you live in your home. You can use your home equity while you live in your home without having to make monthly payments.

In order to be eligible for a reverse mortgage, you must:

Be 62 years of age or older
Have a large portion of equity in your home
Must live in the home

At Miamimortgagehome.com, we only use the largest home lender in the U.S. for our Miami reverse home loans. This ensures that you are getting the best deal available, and that you are treated with integrity and honesty.

These are some of the characteristics of our reverse mortgages:

You don’t need to make any payments while you live in the home.
There are no restrictions on how you use the money.
The title on the property remains in your name.
The closing costs and mortgage payoffs are deducted from the home loan.
The funds you received are considered a loan and therefore, not taxable.
Your Social Security and Medicare payments are not affected.
You can choose to receive the money in three different ways: A lump sum, a line of credit, or as monthly payments.
No credit score rating are required for eligibility. You may have very poor credit and still qualify.
We accept houses and condominiums.
The loan amount is based on the home value and your age.
Interest rates are based on the following indexes: The index used by the FHA is the Treasury index and the one used for the simple equity is the LIBOR.

However, before deciding on getting a reverse mortgage, it’s important for you to understand how they work, their benefits, their drawbacks and when it’s a good idea for you to get one. In the related articles, you can read about these different issues.

If you have any questions, please don’t hesitate to call us. We are here to help you in any way we can.

Miami Reverse Mortgage

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