Iona Florida Reverse Mortgage

Your Iona Reverse Mortgage Guide

Welcome to Iona

If you are a Iona homeowner aged 62 or older, you may be eligible for a reverse mortgage loan. This type of loan allows you to access your home’s equity without making monthly payments. Instead, the loan is repaid when you sell the home or pass away. Reverse mortgage loans can provide financial support and security for seniors in Iona, allowing them to age in place and enjoy the comfort and familiarity of their own homes. Don’t let your hard-earned equity go to waste – consider a reverse mortgage loan and see how it can benefit you and your family in retirement.

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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Iona 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

Iona Florida Frequently Asked Questions

How does a Reverse Mortgage work in Iona Florida?

A reverse mortgage in Iona, 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 Iona, 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 Iona?

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 Iona?

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 Iona Florida

Welcome to Iona, Florida! This charming city is nestled in the heart of Lee County and is home to just over 3,000 residents. Iona is a city with a rich history and a bright future.

Originally founded in the early 1900s, Iona was named after the nearby Iona Island. The city has grown and changed over the years, but it still retains its small-town charm.

Iona is a great place to visit for those looking to get away from the hustle and bustle of city life. There are plenty of activities to keep you entertained, from exploring the local parks and community centers to visiting the local schools. You can also take a stroll through the historic downtown area and visit some of the local shops and restaurants.

No matter what brings you to Iona, you're sure to find something to love about this quaint little city. So come on down and experience the charm of Iona for yourself!

Things To Do In Iona

Iona, FL Neighborhoods

Eagle's Preserve, The Woodlands at Shellpoint, Catalpa Cove,

IONA, FL WEATHER !function(d,s,id){var js,fjs=d.getElementsByTagName(s)[0];if(!d.getElementById(id)){js=d.createElement(s);js.id=id;js.src='https://weatherwidget.io/js/widget.min.js';fjs.parentNode.insertBefore(js,fjs);}}(document,'script','weatherwidget-io-js');

Top Sights in Iona, FL


Caravel Circle

Kelly Sands Way

Kelly Cove Drive

Kelly Woods Drive

Pasetto Lane

Marblehead Manor Court

Spinnaker Way

Bonaire Circle

Grande Cay Circle

Oakdale Drive

Dawn Cowrie Drive

Zehner Lane

Bellamar Circle

Laguna Drive

Heald Lane

Davis Road

Jacana Court

Griffin Boulevard

White Orchid Lane

Ginger Lane

Holiday Condo Drive

China Berry Way

Kelly Greens Boulevard

Headwater Bay Lane

Bayleaf Lane

Royal Harbour Court

Coconut Key Drive

Harbour Yacht Court

McGregor Palms Drive

Harbour Isle Drive

Ocean Walk Circle

McGregor Woods Circle

Myrtle Street

Kelly Bay Court

Sanibel Sunset Court

Smugglers Cove Adventure Golf

Cape Coral Yacht Club Park Fishing Pier

JungleGolf Ft. Myers

San Carlos Bay - Bunche Beach Preserve

FastTrax Fort Myers

Peppertree Pointe

Lakes Park

Beaches fort Myers

Wa-Ke Hatchee Park

Causeway Islands Park

Little Shell Island

Castle Golf

Connie Mack Island

Sun Harvest Citrus

Bunche Beach

McGregor Boulevard

San Carlos Bay

Everglades Adventure

Ostego Bay Foundation Marine Science Center

Fort Myers Tiki Tours

San Carlos Island

Sanibel Causeway

Spin City Arcade

Street Names in Iona, FL

1st Terrace 2nd Terrace 3rd Terrace 4th Terrace 6th Terrace Access Rd
Angel Wood Ln Anglers Cove Ct Apollo Dr Banyan Creek Dr Banyon Dr Bayleaf Ln
Bayside Pointe E Beach Trail Way Biddy Ln Bienvenida Way Blanquilla Ct Camelia Dr
Cape Sable Ln Caraway Ln Cardinal Cove Ct E Cardinal Cove Ct W Chitwood Dr Coconut Village Dr
Cook Rd Cornell Dr Corralite Ln Court Of Palms Crooked Pond Ct Croton Dr

Iona, FL Zip Codes

33908, 33914,

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 Iona

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 Iona. 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 – Iona

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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.