Secure Your Retirement with a Reverse Mortgage
You’ve worked hard, saved your money and invested wisely. Retirement is almost in reach, so don’t forget to think about the home you live in once you’re retired. Today, many people are taking advantage of record-low home prices and interest rates and buying their dream retirement home now — years before leaving the workforce.
Buy a home you are going to live in for retirement
Buying a retirement home before you are actually ready to retire allows you to take advantage of great deals, all while planning the ideal home location and amenities for your golden years. Even though you may live and work in the city now, you may want to retire near the beach or in the mountains down the road; if you wait too long, your dream home may be out of your price range by the time you are ready to buy.
Don’t worry about paying for a retirement home
With customized loan packages from New American Funding, finding a way to pay for your retirement real estate is easier than ever. Contact our licensed direct mortgage lender specialists today about a free up-front credit approval to see how much money you may be eligible to finance. There are hundreds of retirement mortgage packages and loan types out there, and we can help you find the right loan with the best rate. Our mortgages include little-to-no down payment loan packages and low-interest rate options to fit your budget.
Reverse mortgages
If you and your partner are at least 62 years old, you may be eligible for a Reverse Mortgage Loan, to either refinance or purchase your retirement real estate. As a refinance, this loan uses a portion of the home’s equity as collateral, giving you the freedom to pull needed cash from the equity of the home, without incurring monthly expenses. When used to purchase, a Reverse Mortgage will eliminate the monthly mortgage payment and help preserve cash flow.
Plan for your future
Your retirement should be a time to enjoy the rewards of your hard work and savings, but wherever you are in life, your retirement will take planning and preparation. To learn more about New American Funding’s solutions for buying a retirement home, request a quote online or contact one of our experienced mortgage professionals.