Wekiwa Springs Florida Reverse Mortgage

Your Wekiwa Springs Reverse Mortgage Guide

Welcome to Wekiwa Springs

If you are a Wekiwa Springs 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 Wekiwa Springs, 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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Wekiwa Springs 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

Wekiwa Springs Florida Frequently Asked Questions

How does a Reverse Mortgage work in Wekiwa Springs Florida?

A reverse mortgage in Wekiwa Springs, 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 Wekiwa Springs, 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 Wekiwa Springs?

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 Wekiwa Springs?

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 Wekiwa Springs Florida

Welcome to Wekiwa Springs, Florida! Nestled in the heart of Central Florida, Wekiwa Springs is a vibrant and welcoming community with a population of over 2,000 people.

This charming city has a rich history dating back to the 1800s. It was originally inhabited by the Seminole tribe, who named the area Wekiwa Springs after the bubbling springs that still exist today. The springs are the centerpiece of the Wekiwa Springs State Park, which is a popular spot for swimming, canoeing, and hiking.

Wekiwa Springs is also home to several community centers, such as the Wekiwa Springs Community Center and the Wekiwa Springs Civic Center. These centers offer a variety of activities, from sports leagues to art classes.

The city is also home to several schools, including Wekiwa Springs Elementary, Wekiwa Springs Middle, and Wekiwa Springs High. These schools provide a quality education to the students of Wekiwa Springs and the surrounding areas.

Whether you’re looking for a relaxing getaway or an exciting adventure, Wekiwa Springs has something for everyone. Come explore this beautiful city and experience all it has to offer!

Things To Do In Wekiwa Springs

Top Sights in Wekiwa Springs, FL


Wekiwa Springs State Park

Absolute Realty Group

Paddleboard Orlando

Keller Williams Heritage Realty

Wekiva Hills Park

Sabal Point Sanctuary

Merrill Park

Sanlando Park

Annunciation Catholic Church

Rebounderz Orlando - Indoor Trampoline and Adventure Park

Lake Brantley

Kelly Park - Rock Springs

Seminole Wekiva Trail - San Sebastian Trailhead

Wekiva Wilderness Trust

Big Tree Park - Cross Seminole Trailhead

Haunted Shrine

Rock Springs Run Wildlife Management Area

Orlando Paintball

Spring Hammock Preserve

Seminole Wekiva Trail

IBR Realty, Corp

Weichert, Realtors Hallmark Properties

Keller Williams Classic Realty

Greenwood Lakes Park

re/max assured

Century 21 Carioti

Kewannee Park

Clarcona Horse Park

Soldiers Creek Park

Lake Lotus

Winwood Park

Zora Neale Hurston National Museum of Fine Arts

Tubing Kelly Park

Little Wekiva River

Lake Orienta

Club Lake

Lake Destiny

Belle City Amusement

VITAL REALTY GROUP, INC

Street Names in Wekiwa Springs, FL

10th Street, East 10th Street, West 11th Street, East 11th Street, West 12th Street, East 12th Street, West
13th Street, East 13th Street, West 14th Street, East 14th Street, West 15th Street, East 15th Street, West
16th Street, East 16th Street, West 17th Street, East 17th Street, West 18th Street, East 18th Street, West
19th Street, East 19th Street, West 1st Street 1st Street, East 1st Street, West 20th Street, West
2nd Street 2nd Street, East 2nd Street, West 3rd Street 3rd Street, East 3rd Street, West

Wekiwa Springs, FL Zip Codes

32779, 32791,

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 Wekiwa Springs

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 Wekiwa Springs. 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 – Wekiwa Springs

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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.