Georgia Reverse Mortgages
Georgia FHA Reverse Mortgage Information
As the baby boomer generation approaches retirement, many seniors are searching for more information on reverse mortgages. For seniors living in Georgia, the most popular reverse mortgage program happens to be insured by the federal government and is known as the FHA HECM reverse mortgage program. Seniors who currently have a FHA reverse mortgage right here in Georgia say that having a reverse mortgage allows them to enjoy retirement rather than worry about it because it provides easy access to tax free retirement funds.
Georgia FHA Reverse Mortgage Highlights
- Interest rates for the FHA reverse mortgage program can be either fixed or variable
- Not required to make a mortgage payment for as long as you live in the home
- Available payment options are flexible and include a line of credit, monthly installments or a lump sum
Georgia FHA Reverse Mortgage Program Requirements
When considering what it takes to qualify for the FHA reverse mortgage program, the following apply: You must be age 62 or older, have equity in the home, occupy the home as your primary residence, attend a reverse mortgage counseling session and agree to keep the home in good repair. Qualifying for the FHA reverse mortgage program is simple if you meet these criteria.
Georgia FHA Reverse Mortgage Program: The First Step
In order to learn more about the FHA reverse mortgage programs and to see if one is right for you, be sure to speak with a loan officer who has experience with Georgia FHA reverse mortgages and who will help you find out if it is right for you. Contact an experienced Georgia reverse mortgage loan officer now!
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