Fremont Reverse Mortgage Lender
When considering a reverse mortgage loan, it is important to work with a Fremont reverse mortgage lender that you can trust. This is why Citizens Lending Group has been dedicated to educating California retirees on the ins and outs of reverse mortgages for years. In that time, we have become a trusted name for Fremont reverse mortgage borrowers.
All financial decisions require careful consideration. Any decision you make in your retirement years deserves double because it affects not only your wellbeing, but could affect your family after you are gone.
Citizens Lending Group is here to help you make the best decision possible when it comes to your retirement. Contact us today to learn more about reverse mortgage requirements in California and how we can help you.
Fremont Reverse Mortgage Info You Need to Know
Most other forms of credit or loans available to seniors in retirement have significant drawbacks as compared to a Fremont reverse mortgage. For example, a personal loan will most likely require you to begin making monthly payments on the money you have borrowed almost immediately after you have received that money.
When most seniors look for a reverse mortgage, they are doing so because they have certain unexpected expenses they are hoping to cover or they need to increase their retirement income. However, a personal loan would actually increase your cost of living while a Fremont reverse mortgage would not. Reverse mortgages do not require monthly payments, and you only have to pay the loan back when you sell your home or move away permanently. Many families even opt to keep their home with the family in which case your children or heirs can simply pay the loan out of pocket.
Reverse Mortgages: Designed with Your Protection in Mind
A reverse mortgage is good for other reasons that relate to cost of living and fixed income as well. For example, reverse mortgage eligibility requirements state that the borrower be able to afford any taxes and maintenance on the home with their current income before the loan is issued.
This reverse mortgage requirement helps ensure that California borrowers are not in a situation that might cause them to go delinquent on their loans in the first place. Other forms of credit do not have such protections for consumers.
Using a Reverse Mortgage for Purchasing a New Home in Fremont, CA
Some Fremont reverse mortgage borrowers use their loan for a reverse mortgage purchase. This allows you to buy a new home better suited to your health or proximity to family without increasing your cost of living. The same rules apply; you can buy a home and only repay the mortgage after you sell it.
Contact Our Fremont Reverse Mortgage Lenders
Citizens Lending Group wants to be the resource you trust in retirement. Contact us today to learn more about Fremont reverse mortgage requirements and how we have been helping Californians for years to get the most out of their retirement. No other lender will do more to help you get the information you need to make the best decision for you and your family in the golden years of your retirement.