Wedgefield Florida Reverse Mortgage

Your Wedgefield Reverse Mortgage Guide

Welcome to Wedgefield

If you are a Wedgefield 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 Wedgefield, 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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Wedgefield 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

Wedgefield Florida Frequently Asked Questions

How does a Reverse Mortgage work in Wedgefield Florida?

A reverse mortgage in Wedgefield, 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 Wedgefield, 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 Wedgefield?

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 Wedgefield?

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 Wedgefield Florida

Welcome to Wedgefield, Florida! Located in the heart of Central Florida, Wedgefield is a vibrant community with something for everyone. With a population of just over 4,000, it’s the perfect place to get away from the hustle and bustle of the big city and enjoy a slower pace of life.

The city of Wedgefield was founded in the late 1950s and has a rich history. It was originally a farming community, but has since grown into a thriving residential area. The city is known for its friendly atmosphere and strong sense of community.

Wedgefield is home to a variety of parks and recreational areas, including the Wedgefield Park and the Wedgefield Golf and Country Club. There are also several community centers, including the Wedgefield Community Center, which hosts a variety of activities and events throughout the year.

The city also has several schools located within its limits, including Wedgefield Elementary, Wedgefield Middle, and Wedgefield High. These schools provide a quality education and a safe learning environment for the city’s students.

Whether you’re looking for a quiet place to relax or an exciting place to explore, Wedgefield is the perfect destination. So come on down and experience the charm and hospitality of this unique Central Florida community.

Things To Do In Wedgefield

Top Sights in Wedgefield, FL


Bancroft Boulevard

Quinn Street

Sheldon Street

Oberly Parkway

Ortega Street

Paddock Street

Lansdowne Street

Quinella Street

Dallas Boulevard

Seaview Street

Sabal Street

Edgerton Avenue

Robertson Street

Quinlan Street

Ralston Street

Hal Scott Regional Preserve and Park

Reynolds Parkway

Hampshire Avenue

Brentford Avenue

Marlin Street

Albion Avenue

Starry Street

Peabody Street

Danella Realty LLC

Brite Realty Group

Exotic Animal Experience

Michener Trail

Citarelli Realty Group

Sweet Acacia Drive

Glossy Privet Drive

Carriage Lake Drive

RE/MAX 200 Realty - Property Management Division

Cleary Way

Rainbow Springs Lane

Saffron Plum Lane

Deer Chase Loop

Tanja King Park

Tanja King Boulevard

Abey Blanco Drive

Cedar Crest Drive

Wild Tamarind Boulevard

Town Park

La Rosa Realty Lake Nona INC.

Sapphire Bay Circle

Ocean Pine Circle

Early Frost Circle

Keller Williams Legacy Realty

Pine Lily Preserve

Empire Network Realty INC.

Fort Christmas Historical Park

Olde Town Brokers

GO Realty

Homevest Realty: David Woolford Team

iList Realty

La Rosa Realty Orlando LLC

Keller Williams Advantage III Realty

The Ole Group, Charles Rutenberg Realty Orlando

The Shugan Group, Inc.

The Property Pros Real Estate, Inc.

Tosohatchee WMA

AmeriTeam Realty, Inc: Marianela Mediavilla

Absolute Realty Group

Florida 520

Econlockhatchee Sandhills Conservation Area

The Haunted Road

EXP Realty LLC

Street Names in Wedgefield, FL

Abalone Blvd Abbey Ave Abney Ave Ainsley Ave Alabaster Ave Albion Ave
Amberly Ave Archer Ave Archer Blvd Ardon Ave Ascot Ave Babbitt Ave
Bagdad Ave Baker Ave Ballard Ave Bancroft Blvd Bassett Ave Bastings Ave
Bastings Ct Benedict Ave Brentford Ave Brewster Ct Briar Park Dr Briercrest Trail
Brompton Ct Caesar Ave Caesar Ct Calvert Ave Carnegie Ave Cartwright Ct

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 Wedgefield

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 Wedgefield. 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 – Wedgefield

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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.