Longwood Florida Reverse Mortgage

Your Longwood Reverse Mortgage Guide

Welcome to Longwood

If you are a Longwood 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 Longwood, 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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Longwood 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

Longwood Florida Frequently Asked Questions

How does a Reverse Mortgage work in Longwood Florida?

A reverse mortgage in Longwood, 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 Longwood, 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 Longwood?

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 Longwood?

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 Longwood Florida

Welcome to Longwood, Florida! This vibrant city is nestled in the heart of Central Florida, and is home to a diverse population of nearly 14,000 people. Longwood has a rich history that dates back to the late 1800s, when it was founded by a small group of settlers.

Longwood is a great place to explore and experience the best of Florida. There are plenty of outdoor activities to enjoy, such as hiking and biking trails, fishing, and camping. The city is also home to several parks, including the Longwood Community Park, which features a playground, picnic area, and walking trails.

The city also has a variety of community centers, such as the Longwood Community Center, which offers a variety of recreational activities and classes for all ages. There are also several local schools located within the city limits, such as Longwood Elementary, Longwood Middle, and Lyman High School.

Longwood is a great place to visit and explore. With its rich history and vibrant community, it's sure to be a memorable experience. So come on down and experience the best of Florida!

Things To Do In Longwood

LONGWOOD, 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 Longwood, FL


South Grant Street

Harbour View Circle

Raven Avenue

Brentwood Club Cove

Hamilton Avenue

Robert Street

Reiter Park

East Church Avenue

North Grant Street

East Court

Ridge Street

Foggy Brook Place

Aiguille Rock Climbing Center

North Street

Candyland Park

Wild Plum Lane

Big Tree Park - Cross Seminole Trailhead

Northridge Drive

Planet Obstacle - World's Largest Indoor Obstacle Park

Arbor Dog Park

Secret Lake Park

Spring Hammock Preserve

Yattika Place

Bradlee-Mc Intyre House

Lake Concord Park

Pawmosa Dog Park

Cara Lynn Way

Vista Oak Drive

Thicket Ridge Court

Citron Drive

North Pin Oak Place

Watercrest Drive

Sanlando Park

Soldiers Creek Park

North Stone Gate

Nob Hill Circle

Greenwood Lakes Park

Lake Hodge Park

South Sweetwater Boulevard

Sunset Park

Magnolia Oak Court

Regal Crest Drive

Red Bug Lake Park

Splendid Stowe Lane

Casselberry Art House

Hatfield Court

Kapok Court

Winwood Park

Sweetwater Club Boulevard

Hindu Society of Central Florida

Seminole Wekiva Trail

Kewannee Park

Belle City Amusement

Seminole Wekiva Trail - San Sebastian Trailhead

Paddleboard Orlando

Rebounderz Orlando - Indoor Trampoline and Adventure Park

Lake Jesup Wilderness Area

Zora Neale Hurston National Museum of Fine Arts

Lake Orienta

Cross Seminole Trail

Haunted Shrine

Lake Maitland

Little Wekiva River

Lake Lotus

Lake Destiny

Street Names in Longwood, FL

14th Ave 1st Pl E 2nd Pl E Ackola Point Acorn Dr Adair Ave
Adams Ln Adams St Agnes Ave Aimee Pl Alameda Dr Alaqua Dr
Alaqua Lakes Alaqua Lakes Blvd Alatka Ct Albany Ct Alberta St Albrighton Dr
Aldus Ave Allison Ave Ambergate Ct Amberwood Ct Amberwood Dr American Way
Amesbury Ct Andrews Dr Angle Dr Applewood Dr Arborhouse Ct Archers Point

Longwood, FL Zip Codes

32750, 32752,

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 Longwood

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 Longwood. 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 – Longwood

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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.