Northdale Florida Reverse Mortgage

Your Northdale Reverse Mortgage Guide

Welcome to Northdale

As a homeowner in Northdale, 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 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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Northdale 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

Northdale Florida Frequently Asked Questions

How does a Reverse Mortgage work in Northdale Florida?

A reverse mortgage in Northdale, 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 Northdale, 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 Northdale?

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 Northdale?

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 Northdale Florida

Welcome to Northdale, Florida! This vibrant city is located in the heart of Hillsborough County and is home to over 20,000 residents. Northdale was founded in the late 1950s and has since become a thriving community.

Northdale is a great place to visit and explore. The city is home to a variety of parks, community centers, and local schools. You can take a stroll through the lush green parks, such as Northdale Park, or take a dip in the pool at the Northdale Recreation Center. There are also plenty of activities to enjoy, such as shopping at the local stores, or visiting the nearby Northdale Golf and Tennis Club.

Northdale is also home to several schools, including Northdale Elementary, Northdale Middle, and Northdale High School. These schools offer a variety of educational opportunities for children of all ages.

If you’re looking for a place to call home, Northdale is the perfect place for you. With its friendly atmosphere and plenty of activities to explore, Northdale is the perfect place to settle down and start a family.

Come and explore Northdale, Florida! With its vibrant community and plenty of activities to enjoy, you’ll never run out of things to do.

Things To Do In Northdale

Northdale, FL Neighborhoods

Carrollwood Springs, Cypress Meadows, Country Place, Clusters at Carrollwood Springs, Lakeshore Estates of Hillsborough, Van Dyke Estates, Carrollton, Sugarwood Grove, Lake Leta Trace, Pennington Village,

Top Sights in Northdale, FL


Maven Development & Estates

Mihara & Associates, Inc.

Berkshire Hathaway HomeServices Florida Properties Group - Carrollwood Office

54 Realty

Naturewalk Drive

Dawnview Drive

Akita Drive

NORTHDALE PARK

Eagle River Way

Gardendale Drive

Traskwood Court

Mark Spain Real Estate

Autumn Leaves Drive

Lake Leta Boulevard

Ramblebrook Lane

Lake Conservation Park

Crying Wind Drive

Bangalow Palm Court

Berryhill Court

Pony Place

Foothill Drive

Mystic Way

Northdale Park and Recreation Center

Keller Williams Realty of South Tampa

Carrollwood Village Park

Idlewild Baptist Church

PEOPLE'S CHOICE REALTY SERVICES, LLC

FUTURE HOME REALTY, Inc

Insta Real Estate Solutions

Select Properties Inc.

Impact Realty Tampa Bay

Enterprise Realty Services, LLC

Hidden Brook Drive

Rocky Creek Trails Nature Preserve

Mark-It Realty Group Inc

Exposition Drive

CENTURY 21 Rosa Leon

The Somerday Group

Frank Albert Realty, LLC

Keller Williams Realty Suburban Tampa

Charles Rutenberg Realty, Inc.

LPT Realty

Smith & Associates Real Estate

Florida Realty Hub

Shadberry Drive

TPC Tampa Bay

Engel & Völkers St. Pete

Graystone Real Estate

Signature Realty Associates

PRIME INT'L REAL ESTATE GROUP

North Dale Mabry Highway

Upper Tampa Bay Trail

Dalton Wade Real Estate Group

JT Realty & Associates

Re/Max Marketing Specialists - Spring Hill

RE/MAX Premier Group

Realty Services Inc

Street Names in Northdale, FL

Altamira Dr Arbor Reserve Cir Arbor Springs Cir Bear Creek Buckeye Dr Carrollwood Pl Cir
Carrollwood Springs Blvd Casey Road Exn Country Aire Ln Country Hills Dr Cypress Mulch Cir Cypress Water Way
E Course Dr Hollowtrail Dr Jacks Point Ct Johnnie Rd Karla Pl Kettle Creek Ct
Lady Palm Ct Lakeshore Rd Land Oaks Dr Landings Pointe Ln Landings Way Dr Majesty Palm Ct
Manorwood Cir Mapledale Blvd Nature View Way Newkirk Dr Northdale Oaks Dr Northgreen Ave

Northdale, FL Zip Codes

33558, 33618, 33624, 33625,

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 Northdale

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 Northdale. 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 – Northdale

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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.