Modesto Reverse Mortgage Lender
Making financial decisions during retirement calls for careful consideration. There are many factors affecting what you can and cannot do in retirement and many of these factors may affect your family after you are gone. The last thing you want to do when your retirement savings are not enough is to borrow money in a way that increases your cost of living. A Modesto reverse mortgage can help you get through unexpected challenges, or just enjoy life more fully without adding to your cost of living.
Many Modesto reverse mortgage borrowers are not aware of how much money could be available to them based on their home value and the housing prices in California. Trustworthy reverse mortgage lenders are your best resources for finding out how well a reverse mortgage could support your retirement.
Citizens Lending Group has been trusted in California for years to help seniors make the best decisions. Let us help you too. Contact us today to learn more about Modesto reverse mortgage requirements and to find out if a reverse mortgage loan is right for you.
Helpful Info for Modesto Reverse Mortgage Borrowers
A reverse mortgage is a unique way to secure additional finances during your retirement. These loans are one of the few options you have that will not increase your cost of living. A Modesto reverse mortgage does not require a monthly payment so your fixed income will not have to stretch further if you choose to take advantage of this option. You only have to repay this loan when you sell your home or move away permanently.
Additionally, reverse mortgage eligibility requires that you be able to pay all taxes and maintenance costs on your home with your current fixed income. This protects you from taking on a loan you cannot afford.
Using a Reverse Mortgage to Purchase a New Modesto Home
Another option to consider is that Modesto reverse mortgage borrowers can also opt to make a reverse mortgage purchase. This allows seniors to move to a new home without having to take on a new mortgage payment. Many people choose this option in order to move to a home better suited to their health and mobility or to be near family.
This type of mortgage would pay off any remaining balance on your current home and allow you to use the rest for a new home. A qualified Modesto reverse mortgage lender can help you understand fully how this loan works and what your options are as far as where you can live. Some homes and condos may not be eligible for this type of loan.
Contact Our Reverse Mortgage Lenders in Modesto, CA
Modesto reverse mortgage borrowers have trusted Citizens Lending Group to provide clear and accurate information for years. Let us help you with your financial needs. Whether it is planning for retirement or handling unexpected expenses, you will have a professional who knows how to help you when you call Citizens Lending Group.
Contact us in California today to learn more about reverse mortgage requirements and how we can help you.