Citrus Park Florida Reverse Mortgage

Your Citrus Park Reverse Mortgage Guide

Welcome to Citrus Park

Are you a homeowner in Citrus Park looking for financial support in retirement? A reverse mortgage loan may be the solution you’ve been seeking. This type of loan allows homeowners aged 62 and older to access their home equity without the obligation to make monthly payments. Instead, the loan is repaid when the borrower sells the home or passes away. Reverse mortgage loans can provide a stable financial foundation and allow seniors to age in place with the comfort and security of their own home.

Reverse Mortgage

Explore the possibilities of a Reverse Mortgage! Free yourself from worrying about monthly bills and take back control of your financial future. With a Reverse Mortgage, you can unlock the power of your home’s equity while maintaining ownership of your home. Find out today how you can start on the road to financial freedom.

Learn More about a Reverse Mortgage

Reverse Mortgage for Purchase

Did you know you can use a reverse mortgage to purchase a new home? A reverse mortgage for purchase allows seniors to buy a new home without making any monthly mortgage payments. Instead of getting an upfront lump sum payment like other reverse mortgages, the loan is used to purchase a new primary residence.

Learn More about a Reverse Mortgage for Purchase

HECM to HECM Refinance

A HECM (Home Equity Conversion Mortgage) to HECM refinance, also known as a HECM loan refinance, is a type of reverse mortgage that allows a borrower to refinance an existing HECM loan with a new one. This can be beneficial for several reasons, such as lowering your interest rate, changing the loan terms, accessing additional equity, and improving your financial situation.

Learn More about a HECM to HECM Refinance

Cash Out Reverse Mortgage

A Reverse Mortgage allows you to take cash out of your house and use the equity in your home for the things you want. You can receive your cash as a lump sum, fixed monthly payment, or line of credit.

Learn More about a Cash Out Reverse Mortgage

Jumbo Reverse Mortgage

A Jumbo Reverse Mortgage is a reverse mortgage that allows homeowners to borrow more money than allowed with a traditional HECM reverse mortgage. This is because a Jumbo Reverse Mortgage is not limited by the same lending limits set by the Federal Housing Administration (FHA) for standard HECM loans. With a Jumbo Reverse Mortgage, you can access more of the equity in your high-value home.

Learn More about a Jumbo Reverse Mortgage

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Citrus Park Approved Reverse Mortgage Counseling Agencies

HUD Approved HECM Counseling Agencies

The following is the internet website address and telephone number provided by HUD for the purposes of acquiring HECM counseling:

National Counseling Agencies

ClearPoint Financial Solutions
(800) 251-2227
https://www.clearpoint.org/

Money Management International
(877) 908-2227
https://www.moneymanagement.org/

Credit.org
(800) 947-3752
https://www.homeownership.org/

National Foundation for Credit Counseling
(866) 698-6322
https://www.nfcc.org/

Greenpath
(888) 860-4167
https://www.greenpath.com/

Navicore
(866) 855-7736
https://navicoresolutions.org/

Guidewell Financial Solutions
(800) 882-6171
https://www.guidewellfs.org/

NeighborWorks America
(202) 760-4000
https://www.neighborworks.org/

Housing Options Provided for the Elderly (HOPE)
(844) 432-6467
https://hopeforseniorsstl.org/

Florida Counseling Agencies

Citrus Park Florida Frequently Asked Questions

How does a Reverse Mortgage work in Citrus Park Florida?

A reverse mortgage in Citrus Park, Florida, works similarly to a reverse mortgage in other parts of the country. The basic principle is that it allows homeowners 62 years of age or older to borrow money against the equity in their home without having to make monthly payments. Instead, the loan becomes due when the borrower moves out of the house permanently, sells the home, or passes away.

To obtain a reverse mortgage in Citrus Park, Florida, the borrower must meet with a reverse mortgage lender and go through a counseling session to ensure that a reverse mortgage is a suitable choice for them. The lender will also appraise the home to determine its value and the amount the borrower is eligible to borrow.

Do I make mortgage payments on my Reverse Mortgage in Citrus Park?

No, you do not have to make payments on your reverse mortgage. You are still obligated to pay your property taxes, homeowners insurance, general home maintenance and upkeep, and any HOA fees, if applicable. The benefit of a reverse mortgage is that you do not have to make a regular monthly mortgage payment.

What qualifies for a reverse mortgage in Citrus Park?

A reverse mortgage loan is only available to seniors who are age 62 or older. This type of loan has been designed to help provide a solution to allow seniors access to equity in their homes while still living there. To qualify for a reverse mortgage, you must:

  • The youngest borrower on the loan must be 62 years old or older
  • Having an existing mortgage loan balance is OK as long as there is sufficient equity in the home
  • It must be your primary residence, not rental homes or vacation homes
  • Reverse mortgage loans are available as refinance or purchase loans.

How do I receive my money when I get a reverse mortgage?

With a Reverse Mortgage, borrowers have the flexibility to choose how they want to receive their loan proceeds. This can include receiving the funds in one lump sum, periodically accessing them through a line of credit, receiving regular monthly payments, or a combination of these options. Speak with a licensed Reverse Mortgage Lender to discuss your options.

About Citrus Park Florida

Welcome to Citrus Park, Florida! This vibrant city is located in Hillsborough County and is home to over 20,000 people. It's the perfect place to call home, whether you're looking to settle down or just looking for a fun getaway.

Citrus Park has a rich history that dates back to the late 1800s when it was first established as a small farming community. Over the years, the city has grown and evolved into the vibrant community it is today.

Citrus Park is full of fun activities and attractions for everyone. There are plenty of local parks and community centers to explore, and the city is also home to some great schools. Whether you're looking for a place to relax or a place to explore, Citrus Park has something for everyone.

If you're looking for a fun getaway, Citrus Park is the perfect destination. With its vibrant culture, friendly people, and plenty of activities to explore, you'll never run out of things to do. So come on down to Citrus Park and experience all the city has to offer!

Things To Do In Citrus Park

Citrus Park, FL Neighborhoods

Carrollwood Meadows, Logan Gate, Cumberland Manors, Ventana at Carrollwood, Carrollwood Reserve, Belle Glen, Eastbrook, Westwood, Indian Lakes, Carrollwood Lakes, Creekside, Mandarin Lakes, Easy St, Woodmont, Eaglebrook, Indian Oaks, Northbridge of Lake Pretty, Peterson Road Community, Bellamy Road, Woodbriar West Group, Belle Meade, Hammock Woods, Village Estates West, Cedar Creek at Country Run, Honey Hill, Carrillon Estates,

Top Sights in Citrus Park, FL


Alvina Street

Knoll Ridge Drive

Armistead Lane

Nikki Lane

Brucie Place

Trucious Place

Moultrie Place

Greeley Drive

Ardenwood Street

Tranquility Way

Westpark Preserve Boulevard

Cozy Place

Hi Vista Circle

Timber Court

Steeplechase Drive

Salamander Place

Damselfly Dr

Estero Bay Lane

South Meadowview Circle

Amherst Street

Tollie Lane

Basswood Avenue

Primrose Willow Place

Citrus Crest Circle

Corso Milano Drive

Hickorynut Drive

Mount Vernon Road

Markland Greens Place

Tabor Drive

Peterson Road

Pondhawk Lane

Arlington Grove Circle

Elmfield Drive

Wildflower Glen Avenue

Iroquois Court

Willowdale Road

Chatsworth Avenue

Big Cat Rescue

Bellingham Drive

Copeland Creek - David Weekley Homes

Mattamy Homes - Citron Grove

Red Cedar Lane

Edgemere Road

Antilla Street

Browder Road

Hindu Temple of Florida

Landsman Avenue

Sanctuary Vista Trail

Cain Road

Carencia Lane

Wickersley Place

Swain Avenue

Sanctuary Creek Lane

Berkford Avenue

Avonwood Street

Nicole Lane

North Meadowview Circle

Olive Jones Road

Heathridge Drive

Logan Gate Dog Park

Citrus Field Court

Tamarind Avenue

Rocky Creek Trails Nature Preserve

Carrollwood Village Park

Lake Rogers Park

Gunn Highway

Keystone Park

NORTHDALE PARK

Westchase Park & Recreation Center

Upper Tampa Bay Trail

Brooker Creek Headwaters Nature Preserve

West Dog Park

Lake Rogers

Channel Park Trailhead

Northdale Park and Recreation Center

Lake Conservation Park

Axe Throwing Tampa

Upper Tampa Bay Park

Town N Country Nature Preserve.

TPC Tampa Bay

Suncoast Trail

Lake Frances Nature Preserve

North Dale Mabry Highway

Lake Dan Nature Preserve

Pam Callahan Nature Preserve

Street Names in Citrus Park, FL

Alcot Ct Allmark St Altaloma St Americas Cup Ave Antilla St Avery Oaks Dr
Avonwood St Banberry Ave Barry Ave Basswood Ave Bayberry Ave Bert Pl
Big Cypress Way Birmingham St Blue Ribbon Ln Blue Roan Ct Brooklyn Rd Bucklin St
Cabot Ct Casa De Luz Dr Childrens Ln Citrus Falls Cir Citrus Park Town Center Blvd Citrus Valley Dr
Community Campus Dr Conkle Dr Cosme Rd D&j Dr Davenport Pl Double Bridle Ct

Citrus Park, FL Zip Codes

33556, 33624, 33625, 33626,

Reverse Mortgage Regulations

HUD – The United States Department of Housing and Urban Development is one of the executive departments of the U.S. federal government. It administers federal housing and urban development laws. They state, “Reverse mortgages are increasing in popularity with seniors who have equity in their homes and want to supplement their income. The only reverse mortgage insured by the U.S. Federal Government is a Home Equity Conversion Mortgage (HECM) which is only available through an FHA-approved lender. The HECM is FHA’s reverse mortgage program that lets you withdraw a portion of your home’s equity.”

Consumer Finance Protection Bureau – The Consumer Financial Protection Bureau is an agency of the United States government responsible for consumer protection in the financial sector. They state, “A reverse mortgage is a special type of home loan only for homeowners who are 62 and older. With a reverse mortgage, the amount the homeowner owes goes up–not down–over time.”

NMSL – The Nationwide Multi-State Licensing System and Registry is the record system for non-depository financial services licensing.

NRMLA – The National Reverse Mortgage Lenders Association (NRMLA) is a professional association that serves as an educational resource for the Reverse Mortgage community. The NRMLA was established in 1997 to promote professionalism and provide support and guidance to lenders and education borrowers. In addition, they prioritize educating consumers on the advantages and disadvantages of obtaining a reverse mortgage, ensuring borrowers make informed decisions.  They also provide training for mortgage professionals, enforce a code of ethics, and advise policymakers on reverse mortgage issues.

Reverse Mortgage Lenders near Citrus Park

Call us for a free, no-obligation consultation about your Reverse Mortgage options. One of our licensed professionals will answer your questions without the hassle of a sales pitch. You’ll learn what programs you may qualify for and discover the best options that will suit your situation.

We are proud to serve the residents of Citrus Park. We have been in the mortgage lending business since 2002 and would be happy to provide additional testimonials and references to clients we have worked with. We look forward to serving you and welcome the opportunity to meet and discuss your individual needs.

Reverse Mortgage Resource Center
Phone: 385-503-2224

Reverse Mortgage Resource Center – Citrus Park

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REVERSE MORTGAGE RESOURCE CENTER ~lIVE lIFE ON yOUR tERMS~


Our Lending Team has been serving our clients since 2004. We are passionate about serving our clients with integrity to help them achieve their financial goals.