Egypt Lake-Leto Florida Reverse Mortgage

Your Egypt Lake-Leto Reverse Mortgage Guide

Welcome to Egypt Lake-Leto

Are you a homeowner in Egypt Lake-Leto 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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Egypt Lake-Leto 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

Egypt Lake-Leto Florida Frequently Asked Questions

How does a Reverse Mortgage work in Egypt Lake-Leto Florida?

A reverse mortgage in Egypt Lake-Leto, 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 Egypt Lake-Leto, 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 Egypt Lake-Leto?

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 Egypt Lake-Leto?

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 Egypt Lake-Leto Florida

Welcome to Egypt Lake-Leto, Florida! This vibrant city is located in Hillsborough County and is home to over 15,000 people. It’s a great place to live, work, and play.

Egypt Lake-Leto has a rich history that dates back to the early 1900s. The city was founded by the Egypt Lake Land Company and was originally a farming community. Over the years, the city has grown and developed into the thriving community it is today.

Egypt Lake-Leto is a great place to explore. There are plenty of activities to keep you busy, from visiting local parks and community centers to exploring the city’s history. There are also plenty of local schools if you’re looking to further your education.

The city is a gem in the Tampa Bay area. It’s a great place to call home, with its friendly people and diverse culture. So come on down and experience all that Egypt Lake-Leto has to offer!

Things To Do In Egypt Lake-Leto

Egypt Lake-Leto, FL Neighborhoods

West Park, Lake Egypt Estates, Huntington of Carrollwood, Cypress Glen, Hidden Oaks of Hillsborough, Jasmine Pond, Whispering Oaks, Lago Vista, Oak Trail, Kirby Creek,

Top Sights in Egypt Lake-Leto, FL


North Coolidge Avenue

Palm Ranches Place

Yany Realty

North Lake Drive

Vallejo Place

North Church Avenue

West Idlewild Avenue

West Lambright Street

Friends Realty LLC

Las Palmas Real Estate LLC

Jasmine Pond Drive

Mallard Reserve Drive

South Lake Drive

Pico Drive

North Hale Avenue

North Paddock Avenue

Carroll Oaks Drive

West Kirby Street

Amberly Oaks Court

North Clark Avenue

Cortez Drive

North Church Avenue

West Juneau Street

Huron Court

West Henry Avenue

Cortez Circle

Desert Trunk Court

Kimball Avenue

West Sligh Avenue

Morning Rose Place

Concord Drive

Channelview Circle

West Hamilton Avenue

West Kenmore Avenue

Fancy Finch Drive

West Dog Park

Sap Creek Place

North Thatcher Avenue

West Minnehaha Street

CENTURY 21 Rosa Leon

North Himes Avenue

North Manhattan Avenue

Rivera & Associates Realty

Hindu Temple of Florida

West Crawford Street

North Lois Avenue

Pediatric Dentistry by Dr. Jerry Copeland II

Dental Walk-In Clinic of Tampa Bay

North Gomez Avenue

Villas of Legends Field

Tampa

HomeTrust Realty Group

Avista Bay Realty, LLC

White Trout Lake

Avenue Homes LLC

Avanti Way Realty/Newkirk Group

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

RE/MAX Action First - Westchase

Premier Realty of Tampa

Keller Williams Realty of South Tampa

Cherry Norris,Realtor, Keller Williams Realty New Tampa

FUTURE HOME REALTY, Inc

Dr. Sandra J. Aljure-Estrada, DDS

Coastal Properties Group International: Bryan Belcher

FedEx Ground

Keller Williams Realty St. Pete

Realty Advisors

Dalton Wade Real Estate Group

North Dale Mabry Highway

Upper Tampa Bay Trail

Ez Way Realty

Florida Commercial Group

Angel Realty

Deerpath On the Lake Apartment

Street Names in Egypt Lake-Leto, FL

Alene St Amos Ave Andalusia Pl Andralosa Ln Antigua Ln Berkshire Manor Ct
Bonaire Bay Ln Carlton Arms Cir Carlton Arms Dr Carroll Cypress Dr Carroll Palms Pl Carroll Pines Ct
Carroll Pines Dr Cassia Tree Ct Cavacade Dr Cedar Garden Dr Channelview Cir Cluster Oak Ct
Colwell Ave Concord Dr Continental Dr Cypress Garden Ct Del Lago Cir El Camino Ct
El Encino Ct El Granaro Ct El Granda Ct El Grande Ct El Prado Ct El Rio Ct

Egypt Lake-Leto, FL Zip Codes

33614, 33684,

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 Egypt Lake-Leto

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 Egypt Lake-Leto. 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 – Egypt Lake-Leto

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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.