Reverse Mortgages in Dana Point
Reverse Mortgages in Dana Point. Federal Housing Administration (FHA) Loan Limits Increase to $1,089,300 for Reverse Mortgages on January 3, 2023!
This is great news for many of our senior clients that may be having some challenges during this high inflationary time.
Planning for and maintaining retirement can seem like a difficult task, especially when it comes down to the finances of it. Figuring out how to bridge an income gap between living expenses and Social Security is a common problem for many:
*Seniors under age 70 who are ready to retire but don’t want to take Social Security until age 70 (when benefits are maximized)
*Retirees who are looking for solutions to alleviate the burden of recent inflation
*Seniors who are ready to retire and take Social Security, but feel they need to put off retirement until they save more
*Seniors who want to age at home, but need some Assistance or Home Health Care
Are you over 65 and planing a retirement?
Whether you are planning your retirement years, or taking care of A beloved family member, a Reverse Mortgages in Dana Point is an excellent financial tool for many people. By tapping into the equity in your home, you can eliminate your Dana Point Home Mortgage payment, and may be able to take a lump sum of cash, or arrange for monthly payments to increase your cash flow.
The new loan limit increase makes more equity available to many seniors in Dana Point. A Dana Point reverse mortgages is a great asset to add to your retirement strategy. It protects access to your home’s equity during market fluctuations, provides an additional source of income to be used when you need it, and most importantly, it eliminates the need to make monthly mortgage payments (Taxes, insurance, HOA fees and maintenance of the property are required). You don’t need to solely rely on Social Security, Medicare or Medicaid in retirement. You can stay in your Dana Point homes and utilize the equity in it to fulfill your retirement goals!
Every situation is different.
Give us a call and see which loans you qualify for to easily reach your financing goals!
For more information about mortgages, revers mortgages and financing, please fill the form below.
For a revers mortgage you must need to be 62+ years of age.