East Lake-Orient Park Florida Reverse Mortgage

Your East Lake-Orient Park Reverse Mortgage Guide

Welcome to East Lake-Orient Park

Are you a homeowner in East Lake-Orient 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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East Lake-Orient 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

East Lake-Orient Park Florida Frequently Asked Questions

How does a Reverse Mortgage work in East Lake-Orient Park Florida?

A reverse mortgage in East Lake-Orient 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 East Lake-Orient 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 East Lake-Orient 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 East Lake-Orient 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 East Lake-Orient Park Florida

Welcome to East Lake-Orient Park, Florida! This vibrant city is located in Hillsborough County and is home to a population of over 10,000. It is a place of history, culture, and fun activities.

East Lake-Orient Park was originally founded in the early 1900s and has since grown into the bustling city it is today. It is a great place to explore and experience the best of Florida. You can take a stroll through the local parks, such as the East Lake Park, or visit the community centers like the East Lake-Orient Park Community Center.

The city also has some great schools, like East Lake-Orient Park Elementary and Middle School, and plenty of fun activities to keep you entertained. From the local farmers market to the annual festivals, there is something for everyone.

So come on down to East Lake-Orient Park and experience the best of Florida. You won't regret it!

Things To Do In East Lake-Orient Park

Top Sights in East Lake-Orient Park, FL


Anthony Street

Travis Boulevard

Berkley Drive

Wiggins Leaf Street

Rhode Island Drive

Seminole Hard Rock Hotel & Casino Tampa

Beechwood Boulevard

Baldwin Avenue

Gordon Court

Spillers Avenue

North 75th Street

Wisperbreath Lane

The Florida Aquarium

Veterans Memorial Park

Argon Drive

East 25th Avenue

Radio Lane

Cracker Country

Sugarcreek Drive

Ambermist Drive

Fawn Circle

East Comanche Avenue

RE/MAX Realty Unlimited | Real Estate Brokerage | New Construction | Home Listings | Home Buyers | Tampa Bay

New Ross Court

Garden Lane

Chaperon Court

Ybor City Museum State Park

CENTURY 21 Rosa Leon

North 48th Street

Veterans Memorial Park and Museum

Tampa Bay History Center

American Victory Ship & Museum

Oran Street

Bally Money Road

Ashley Oaks Court

Eureka Springs Park

North 44th Street

East Chelsea Street

North 50th Street

Henry B. Plant Museum

Weichert Realtors Brandon Realty

Ashburn Square Drive

Tampa Bay Grand Prix

Pitch Pine Circle

Needle Leaf Place

Niagara Avenue

Puritan Circle

Impact Realty Tampa Bay

Ashburn Lake Drive

Cherry Norris,Realtor, Keller Williams Realty New Tampa

East Wilder Avenue

Tampa Firefighters Museum

Tampa Museum of Art

Keller Williams Realty of South Tampa

North Falkenburg Road

Hawk Storm Avenue

Croc Encounters

Alex Chimbulev CEO at Reverence Group | exp Realty

North 52nd Street

The Florida Museum of Photographic Arts

TGH Ice Plex

Lesley "Les" Miller Jr. All People's Community Park & Life Center

McPeak Realty Group, Inc.

Pineywoods Realty

Harney Baptist Church Road

Columbia Centennial Museum

iFLY Indoor Skydiving - Tampa

HomeRiver Group

Dalton Wade Real Estate Group

Bullard Parkway

Ann Lee Realty

CENTURY 21 Affiliated

Adventures Archery

RE/MAX Alliance Group

TRP Real Estate Group LLC

Keller Williams South Shore

Charles Rutenberg Realty

CENTURY 21 Elite Locations, Inc.

Tampa

Premier Homes & Real Estate

American Mobile Home Sales of Tampa Bay, Inc.

Museum of Science & Industry

JRAC Realty

Home-Land Real Estate Inc.

Palm Island Realty Property Management

Street Names in East Lake-Orient Park, FL

101st Avenue 103rd Avenue 108th Avenue, East 108th Avenue, West 109th Avenue 109th Avenue, East
109th Avenue, West 10th Avenue 10th Avenue S 10th Avenue, East 10th Boulevard 10th Street
10th Street, North 110th Avenue 110th Avenue, East 111th Avenue 111th Avenue, East 112th Avenue
112th Avenue, East 113th Avenue, East 113th Avenue, West 114th Avenue, East 114th Avenue, West 115th Avenue
115th Avenue, West 116th Avenue 118th Avenue, East 118th Avenue, West 119th Avenue, East 11th Avenue, East

East Lake-Orient Park, FL Zip Codes

33610, 33619,

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 East Lake-Orient 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 East Lake-Orient 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 – East Lake-Orient 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.