West Little River Florida Reverse Mortgage

Your West Little River Reverse Mortgage Guide

Welcome to West Little River

As a homeowner in West Little River, 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 refinance 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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West Little River 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

West Little River Florida Frequently Asked Questions

How does a Reverse Mortgage work in West Little River Florida?

A reverse mortgage in West Little River, 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 West Little River, 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 West Little River?

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 West Little River?

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 West Little River Florida

Welcome to West Little River, Florida! This vibrant city is located in Miami-Dade County and is home to over 20,000 residents. It's a great place to visit and live, with plenty of activities and attractions to keep you busy.

West Little River has a rich history that dates back to the early 1900s. The city was founded by a group of Bahamian immigrants who settled in the area and established a thriving agricultural community. Today, the city is a diverse and vibrant community that celebrates its history and culture.

West Little River is home to several parks and community centers, including the West Little River Park and the West Little River Community Center. These are great places to spend time with family and friends, and enjoy the outdoors. The city also has several schools, including West Little River Elementary and West Little River Middle School.

If you're looking for something fun to do, West Little River has plenty to offer. From shopping and dining to outdoor activities and entertainment, there's something for everyone. Whether you're looking for a relaxing day at the beach or an evening of live music, West Little River has it all.

So, come and experience all that West Little River has to offer. It's a great place to live, work, and play!

Things To Do In West Little River

Top Sights in West Little River, FL


Northwest 93rd Street

Northwest 81st Street

Northwest 84th Terrace

Northwest 84th Street

Northwest 80th Street

Northwest 95th Terrace

Northwest 102nd Street

Northwest 88th Street

Northwest 82nd Street

Northwest 90th Street

Northwest 98th Street

Northwest 94th Street

Northwest 83rd Street

Northwest 28th Avenue

Northwest 14th Place

Arcola Lakes Park

Keller Williams Miami Eagle Realty: Barbi Triana, Team Leader

Northwest 35th Court

Northwest 104th Terrace

Northwest 86th Terrace

Northwest 85th Street

Northwest 89th Street

Amelia Earhart Park

Northwest 87th Street

Northwest 101st Street

Northwest 96th Street

Northwest 82nd Terrace

beycome

R House Real Estate

Arcola Lakes Senior Center

LUXE Properties

Northwest 5th Court

Arcola Park

My Realty Group

Florida Realty Of Miami, Corp.

Beachfront Realty Inc.

Skyline Realty, LLC

Marlin Realty Inc

Realty One Group Royal Oaks

Podium Realty Group Inc

Northwest 1st Place

Gwen Cherry Park

Northwest 99th Street

Lexsa Real Estate LLC

Tower Team Realty LLC

Northeast 2nd Avenue

Stratmire Real Estate Advisors

Davide Realty, Inc.

Northwest 35th Avenue

Julie's Realty LLC

Elite Realty Partners, Inc.

Northwest 24th Avenue

Genesis Realty Services Inc

Sellstate - 5 Star Realty

Military Trail Park

Miami Watersports Complex

KoRes Virtual Realty

Canvas Real Estate - Kendall

Northwest 23rd Court

Ace Florida Realty

Amistad Real Estate Miami

Global Luxury Realty LLC

Dream Life Realty

Valencia Team - Keller Williams Capital Realty

Horizon Homes Realty, Corp

Real Estate Geeks

Fausto Commercial Realty

NXT LVL Realty

Capital Homes, Inc.

United Real Estate Miami

North Glade Park

Biscayne Boulevard

Clima Art Gallery - Miami

Biscayne Shores and Gardens Park

Biscayne Bay

Tamiami Canal

Collins Avenue

Santa's Enchanted Forest

Street Names in West Little River, FL

Broad Manor Rd Little River Blvd Northside Plaza - Northside Shopping Center Nw 101st St Nw 104th Terrace Nw 105th Terrace
Nw 106th St Nw 28th Ct Nw 30th Rd Nw 30th Street Rd Nw 32nd Court Rd Nw 32nd Pl
Nw 33rd Avenue Rd Nw 33rd Court Rd Nw 33rd Ct Nw 34th Avenue Rd Nw 35th Avenue Rd Nw 35th Ct
Nw 35th Pl Nw 79th Terrace Nw 80th Terrace Nw 81st Street Rd Nw 81st Terrace Nw 83rd Terrace
Nw 84th Ln Nw 84th Terrace Nw 85th St Nw 85th Street Rd Nw 85th Terrace Nw 86th St

West Little River, FL Zip Codes

33013, 33147, 33150, 33166,

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 West Little River

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 West Little River. 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 – West Little River

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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.