New Smyrna Beach Florida Reverse Mortgage

Your New Smyrna Beach Reverse Mortgage Guide

Welcome to New Smyrna Beach

As a homeowner in New Smyrna Beach, you have worked hard to build equity in your home. Now, that equity can work for you in your retirement years with a reverse mortgage refinance loan. This type of loan allows you to tap into the equity you have built up in your home without the obligation to make monthly payments. Instead, the loan is repaid when you sell the home or pass away. Reverse mortgage loans can provide financial stability and peace of mind, allowing you to enjoy your retirement and age in place in the comfort of your 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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New Smyrna Beach 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

New Smyrna Beach Florida Frequently Asked Questions

How does a Reverse Mortgage work in New Smyrna Beach Florida?

A reverse mortgage in New Smyrna Beach, 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 New Smyrna Beach, 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 New Smyrna Beach?

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 New Smyrna Beach?

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 New Smyrna Beach Florida

Welcome to New Smyrna Beach, Florida! This beautiful beach town is located along the Atlantic Coast, just south of Daytona Beach. With a population of around 25,000, this city is the perfect size for a peaceful getaway.

New Smyrna Beach has a rich history that dates back to the late 1700s. The city was founded by Dr. Andrew Turnbull and his group of colonists from Minorca, Spain. The city was named after the Greek island of Smyrna.

Today, New Smyrna Beach is a popular destination for beach-goers and outdoor enthusiasts alike. With miles of white sand beaches, surfers can catch some of the best waves in the area. Nature lovers can explore the nearby Canaveral National Seashore, where they can observe a variety of wildlife.

The city also offers plenty of activities for the whole family. Local parks like Riverside Park and Old Fort Park provide plenty of outdoor activities, like fishing, kayaking, and biking. The city also has a variety of community centers, like the Smyrna YMCA and the New Smyrna Beach Community Center, where you can take part in a variety of classes and activities.

For those looking for a more educational experience, New Smyrna Beach is home to several schools, like New Smyrna Beach High School and Coronado Beach Elementary School. Whether you're looking for a relaxing beach vacation or an exciting outdoor adventure, New Smyrna Beach has something for everyone. So come on down and experience the beauty of this coastal paradise!

Things To Do In New Smyrna Beach

New Smyrna Beach, FL Neighborhoods

Coconut Palms Beach Resort, Pine Island, Inlet At New Smyrna Beach, Moontide Condo, Coronado Del Mar, Castle Reef Condo, Ponce Deleon Towers Condo, Sea Woods, New Smyrna Beach Historic District, Atlantic Villas, Coronado Arms Condo, Diamond Head Point Condo, Hawks Cove, Pelican Condo, The Oceania Plaza Condo, Coronado Cove, Turnbull Bay Country Club Estates, Riverside On The Park, Fountains Of New Smyrna Beach, Cearra Del Ray, Turnbull Shores, Coastal Waters Condo, The Meadows Of Sugar Mill, Driggers, Waterway East Condo, Hillmans, North Causeway, Florida Gun-rib, Ocean Trillium South, Smyrna Estates, Brown, So Saxon, Sea Villas, Pine Sland, Donlon Cove, Oliver, Lakeside Business, Chateau By The Sea, Channel View, Sea Mist Villas Condo, Bouchelles, Aqua Golf, Lytle Townhouses, Cedar Dunes Condo Phases, Bouchelle, Clouser, Camary Maud Groves, Indian River Plantation, Islesboro, Watermark Condo, Yacht Club Island Estates,

NEW SMYRNA BEACH, 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 New Smyrna Beach, FL


Smyrna Dunes Park

Ponce de Leon Inlet Lighthouse & Museum

27th Avenue Beachfront Park

Riverside Park

Marine Science Center

Bouchelle Drive

Downing Street

Grande Tuscany Way

King Palm Drive

Jessamine Avenue

Palm Street

Windover Court

Canova Drive

Bolton Road

Grayce K. Barck North Beach Community Park

Lighthouse Point Park

Flagler Avenue Beachfront Park

Old Fort Park

Atlantic Center for the Arts

Esther Street Beachfront Park

New Smyrna Museum of History

Neverland Drive

Cruger-dePeyster Plantation Sugar Mill Ruins

White Coral Lane

Smyrna Beach

George R. Kennedy Memorial Park

Menard-May Park

Buena Vista Park

Callalisa Park

Indian River Lagoon Park

Flagler Avenue

Arts on Douglas

Ponce Inlet Jetty

NSB Skatepark

Detwiler Park

Pettis Park

Christmas Park

Ponce de Leon Inlet

South Atlantic Avenue

Rocco Park

Mary S. Harrell Black Heritage Museum

The New Smyrna Beach Garden Club

Spruce Creek Park

The Club at Venetian Bay

New Smyrna Beach

Spruce CREEK PRESERVE / Doris LEEPER

Ponce Inlet Park

Turnbull Bay

Winterhaven Park

Mary McLeod Bethune Beach Park

Mosquito Lagoon Aquatic Preserve

Ponce Preserve

Sunglow Fishing Pier

Spruce Creek Preserve

Ponce Inlet Historical Museum

Doris Leeper Spruce Creek Preserve

Parks & Recreation Office

Hawks Park

Apollo Beach Ranger Fee Booth And Entrance For Canaveral National Seashore Florida

Whistle Stop Park

Lake Ashby Park

Wilbur Beach

Timucuan Oaks Garden

Rose Bay

Deep Creek Preserve

Shipyard Island

Street Names in New Smyrna Beach, FL

10th Ave 10th St 12th Ave 13th Ave 14th Ave 15th Ave
16th Ave 17th Ave 18th Ave 19th Ave 20th Ave 21st Ave
22nd Ave 23rd Ave 24th Ave 26th Ave 27th Ave 29th Ave
30th Ave 4th Ave E Acee Dr Aeolian Dr Aero Cir - New Smyrna Beach Municipal Airport (evb) Airport Rd
Airway Cir Alberta St Aldenwood Trail Alligator Ranch Rd Alma Ct Andrea Dr

New Smyrna Beach, FL Zip Codes

32168, 32169, 32170,

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 New Smyrna Beach

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 New Smyrna Beach. 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 – New Smyrna Beach

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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.