Southwest Ranches Florida Reverse Mortgage

Your Southwest Ranches Reverse Mortgage Guide

Welcome to Southwest Ranches

Are you a homeowner in Southwest Ranches looking for financial support in retirement? A reverse mortgage 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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Southwest Ranches 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

Southwest Ranches Florida Frequently Asked Questions

How does a Reverse Mortgage work in Southwest Ranches Florida?

A reverse mortgage in Southwest Ranches, 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 Southwest Ranches, 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 Southwest Ranches?

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 Southwest Ranches?

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 Southwest Ranches Florida

Welcome to Southwest Ranches, Florida! This small town is located in Broward County, just a few miles west of Fort Lauderdale. With a population of about 6,000, Southwest Ranches is a cozy community with a lot to offer.

The city was founded in 2000, but its history dates back to the early 1900s when the area was used as a dairy farm. Today, the city is a vibrant community with plenty of activities to keep locals and visitors alike busy.

If you’re looking for outdoor fun, you’ll find plenty of parks and trails to explore. There’s also a community center with a pool, basketball courts, and a playground. For those looking for a little more adventure, there are plenty of horseback riding trails and even a wildlife sanctuary.

If you’re looking for a place to settle down, Southwest Ranches is the perfect spot. The city is home to a few schools, including the Southwest Ranches Elementary School and the Everglades High School.

No matter what brings you to Southwest Ranches, you’ll find a friendly community with plenty of activities to keep you busy. So come on down and enjoy the small-town charm of Southwest Ranches!

Things To Do In Southwest Ranches

Top Sights in Southwest Ranches, FL


Southwest 56th Street

Southwest 52nd Street

Southwest 46th Street

Southwest 208th Lane

Southwest 128th Avenue

Southwest 162nd Avenue

Hancock Road

Southwest 195th Terrace

Southwest 180th Terrace

Southwest 68th Court

Akai Drive

Luray Road

Mustang Trail

Southwest 133rd Avenue

Southwest 185th Way

Stone Creek Way

Holatee Trail

Melaleuca Road

Southwest 58th Street

Southwest 126th Avenue

Griffin Road

Bella Ranch Lane

Southwest 210th Terrace

Stallion Way

Southwest 196th Lane

Southwest 188th Avenue

Southwest 201st Terrace

Berkshire Court

Southwest 159th Ave

Magnolia Estates Drive

Stratford Court

Southwest 70th Place

Flamingo Gardens

Southwest 198th Terrace

C.B. Smith Park

Vista View Park

Shiva Vishnu Temple of South Florida

South Florida Hindu Temple

Stirling Road

Steven L. Josias Dog & Equestrian Park

Emerald Estates Park

Sunshine Ranches Equestrian Park

Southwest 50th Street

Gator Boys

Chapel Trail Nature Preserve

Fort Lauderdale Florida Temple

Long Key Natural Area & Nature Center

Library Park

Markham Park & Target Range

Chapel Trail Park

Bar-B-Ranch

Keystone Lake

Street Names in Southwest Ranches, FL

Apaloosa Trail Appaloosa Trail Ascot Terrace Avacado Manor Berkshire Ct Bishops Turnpike
Camille Ct Carolton Ln Casa Moorreye Dr Clydesdale Rd E Palomino Dr Foxheath Dr
Greenbriar Manor Greenmeadow Dr Hancock Rd Hawkhurst Ave Holatee Trail Hunter Ln
Hunters Point Lake Ln Logomar Dr Lupo Ln Luray Rd Marvin Ln
Melaleuca Rd Mesquite Dr Mustang Trail N Saxon Cir Old Sheridan St Park Pl

Southwest Ranches, FL Zip Codes

33330, 33331, 33332,

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 Southwest Ranches

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 Southwest Ranches. 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 – Southwest Ranches

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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.