When the Federal Reserve lowers interest rates, it provides an exciting opportunity for those looking to buy real estate. But what about seniors who are happy in their homes? Can lower rates help them? Refinancing or getting a home loan as a senior can be difficult, especially if you’re on a fixed income.
The good news is that seniors CAN take advantage of lower rates right now, with a Home Equity Conversion Mortgage (HECM), also known as a Reverse Mortgage.
For homeowners age 62 and older, a reverse mortgage could be the perfect solution to address unexpected or increased expenses. Between historically high home values in the Denver area and a recent lowering of interest rates, it is a wonderful time to consider a reverse mortgage.
You may be able to access even MORE equity in your home than was previously available, and ensure financial security for your golden years!
With a reverse mortgage, you get to keep your house, get the cash you need, eliminate your mortgage payment*, and enjoy your retirement to the fullest! You deserve it!
* You are still responsible for applicable property taxes and homeowners insurance, as well as maintaining the property.