Olympia Heights Florida Reverse Mortgage

Your Olympia Heights Reverse Mortgage Guide

Welcome to Olympia Heights

Are you a homeowner in Olympia Heights looking for financial support in retirement? A reverse mortgage home 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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Olympia Heights 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

Olympia Heights Florida Frequently Asked Questions

How does a Reverse Mortgage work in Olympia Heights Florida?

A reverse mortgage in Olympia Heights, 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 Olympia Heights, 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 Olympia Heights?

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 Olympia Heights?

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 Olympia Heights Florida

Welcome to Olympia Heights, Florida! This vibrant city is nestled in the heart of South Florida and is home to a diverse population of over 10,000 people.

Olympia Heights was founded in the early 1900s and has since become a thriving community. The city is known for its lush parks and its vibrant culture. Residents enjoy taking a stroll through the city's many parks, such as the Olympia Heights Park, which features a playground, walking trails, and a lake. There are also several community centers, such as the Olympia Heights Community Center which offers a variety of recreational activities for all ages.

The city is also home to several schools, including Olympia Heights High School, which is known for its excellent academic programs. The city also hosts several events throughout the year, such as the Olympia Heights Arts Festival, which celebrates the city's vibrant culture and art scene.

Whether you're looking for a place to relax or a place to explore, Olympia Heights is the perfect destination. Come experience the city's rich history, vibrant culture, and beautiful parks. You won't be disappointed!

Things To Do In Olympia Heights

Top Sights in Olympia Heights, FL


Tropical Park

Florida Realty Of Miami, Corp.

Bird Bowl Bowling Center

Southwest 50th Terrace

Southwest 54th Street

Southwest 45th Street

Southwest 87th Avenue

Southwest 41st Terrace

Southwest 58th Street

Southwest 44th Street

Southwest 45th Terrace

Southwest 47th Street

Blue Lakes Park

Southwest 56th Street

Southwest 48th Terrace

Southwest 98th Place

Southwest 89th Avenue

Southwest 90th Court

Berkshire Hathaway HomeServices EWM Realty

A.D.(Doug) Barnes Park

Southwest 95th Court

Florida Finest Homes Realty

Miami New Realty

Casabella Miami Realty

Southwest 104th Avenue

Clarice Almeida, Realtor - Keller Williams Realty Premier Properties

Southwest 89th Court

Active Community Realty, Inc.

The Canero Group

Falcon Empire Realty

Southwest 95th Avenue

Southwest 89th Place

MJ Estates

Realty World Executive Homes

Southwest 94th Court

Southwest 97th Court

K&A Realty

Southwest 99th Avenue

Westwood Lake Drive

Southwest 46th Street

MC Realty Services, LLC

ElevenTrust RE Services

Southwest 102nd Avenue

Southwest 17th Street

Miami EcoAdventures

Hampton Real Estate Group Inc

Southwest 6th Street

CENTURY 21 Continental Realty

Southwest 123rd Court

United Real Estate Miami

Lifestyle International Realty Headquarters

werc realty

Samour Realty

Southwest 125th Avenue

LoKation Real Estate

Bayview International Realty

Interealty Exchange Inc

Southwest 40th Terrace

Carmona Realty Group, LLC

Southwest 18th Street

Southwest 32nd Street

Southwest 31st Street

Southwest 110th Avenue

Tropical Audubon Society

Southwest 145th Avenue

Southwest 30th Terrace

Southwest 26th Terrace

Southwest 156th Place

Southwest 46th Street

Miami MoCAAD

Fortune International Realty

Haunted circus carnival miami

Street Names in Olympia Heights, FL

10th Street 11th Street 12th Street 13th Street 14th Street 15th Street
16th Street 1st Street 2nd Street 3rd Avenue 3rd Street 4th Street
5th Street 6th Street 7 Oaks Drive 7th Street 8th Street Abington
Addison Avenue Adventure Trail Alamanda Court Alameda Alma Alameda Sanda Alameda Sandra
Alexandria Avenue Almo Court Almond Street Amber Avenue American Eagle Way Anderson Hill Road

Olympia Heights, FL Zip Codes

33143, 33155, 33165,

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 Olympia Heights

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 Olympia Heights. 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 – Olympia Heights

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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.