You owe it to yourself and your family to know your options!
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* Homeowners 62 and over need to navigate the financial concerns of retirement.
* Retirement resources may need to last a long time.
* Many seniors worry that they will run out of money.
We care about your ability to fund longevity.
We have helped hundreds with a reverse mortgage.
We have saved folks millions in mortgage payments.*
HOW IT WORKS:
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A reverse mortgage can be the tool you need to help you enjoy retirement with sufficient funds over many years.
Contact Top Flite Financial TODAY for a no pressure, no obligation conversation. Get the information you need to make an informed decision. We educate; You decide. Call (517) 655-2140
The Most Trusted Name in Senior Lending™
A Home Equity Conversion Mortgage (HECM) is a government insured product for seniors 62 and older and their spouses who may be younger. It allows them to access some of their housing wealth and put it to work for them. The loan proceeds are not taxable and may be used for any purpose. Many of our clients have used the funds for home improvement, paying medical bills or other debt, travel, retirement planning, and as a safety net of funds that are readily available when needed.
Can I really eliminate monthly mortgage payments?
Yes. There are no required mortgage payments on a reverse mortgage, however you are still responsible for paying property taxes, homeowner’s insurance and maintaining the home. It you have a current mortgage it will be paid off which will immediately free up money in your monthly cash flow.
More than one million Americans currently have a reverse mortgage and since the recent “Covid Crash” of the stock market, many thousands more are rushing to get a reverse mortgage in place. The security provided by not having a mortgage payment and having access to often substantial tax-free funds in difficult times has helped many older adults achieve peace of mind in retirement.
What Are Some Benefits?
One of several options with a reverse mortgage is to convert a portion of your home equity into monthly payments to supplement your income. These payments may be received by you for the rest of your life, or for some period of years that you decide. Another option is to allow the funds available to you to remain in a guaranteed growth line of credit for future use.
In many areas, homes have increased in value since they were purchased. This may be true of your home. Now is the time when interest rates are at near historic lows and home values are high to employ a reverse mortgage to access the most equity available to you.
Are You in Your “Forever Home”?
Many of our clients want to live in their current home “forever.” Getting rid of a monthly mortgage payment* or being able to access substantial equity when there is no current mortgage on the home has provided a way for our clients to age in place. For some it has meant that they are no longer “house-rich and cash poor.”
I Would Like to Retire. Can a Reverse Mortgage Help Me?
Yes. If you have sufficient equity in your home and at least one owner is 62 or older, a reverse mortgage can be just the thing to help you prepare for retirement. We have had clients who decided to eliminate their mortgage payment* while they were still working. As a result, they were able to build up their retirement accounts and were in a much better position when it came time to retire. Some have used the loan proceeds to bridge the gap between their retirement and receiving Social Security, preferring to wait until their Social Security check would be the largest.
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