Determine if a reverse mortgage is right for you.
A reverse mortgage is a type of loan where you borrow against the value of your home. To get a reverse mortgage, you must be 62 or older and have significant equity in your home you can borrow against. When you take out a reverse mortgage, you can receive funds as a fixed monthly payment, as a lump sum, or as a line of credit. Unlike a normal mortgage, you don’t have to make any payments on this loan over time.
Many seniors rely on reverse mortgages to maintain their lifestyle into retirement. If you are interested in obtaining a reverse mortgage, you must first determine if this lending option makes financial sense for your situation. At Harbor Mortgage Company, we have several reverse mortgage calculators available that can help you guide your decision.
If you think you want to take out a reverse mortgage, we will help you understand which reverse mortgage calculations to use, and we will also provide more information and guidance about this lending option. We have helped many homeowners in the Grapevine, Texas area take out reverse mortgages and feel confident in their decision.
If you are simply exploring the idea of a reverse mortgage at this point, our reverse mortgage calculations can help you determine if this lending type is beneficial for your situation. For more information about the reverse mortgage calculations or to start your application for a reverse mortgage, reach out to us today.
At Harbor Mortgage Company, we can assist with reverse mortgage calculations for those in Savannah, Bloomingdale, Fort Stewart, Garden City, Georgetown, Hinesville, Pooler, Port Wentworth, and Richmond Hill, Georgia, as well as Bedford, Carrollton, Colleyville, Coppell, Flower Mound, Grapevine, and South Lake, Texas.