Miami Reverse Mortgage

Your heirs can inherit the property, but they’ll need to settle the reverse mortgage balance to keep the home or access any remaining equity. Here’s how they can do it:

1. Refinance the loan and pay off the reverse mortgage
2. Sell the home – pay off the loan at closing and keep any remaining equity
3. Pay the balance with personal funds

Your heirs have options and flexibility.

Want to learn more about reverse mortgages and your choices? Contact us today for a FREE consultation!

FEMBi Mortgage is proud to support our local heroes. The Hometown Heroes program makes homeownership affordable for eligible frontline community workers such as law enforcement officers, firefighters, educators, healthcare professionals, childcare employees, and active military or veterans. Heroes will receive down payment and closing cost assistance!😎 Give us a call at 305.467.6813 to learn more and find out if you qualify.

Can you think of other ways to spend your rent money? How about on a home purchase instead? Here's an easy calculator to show you how much home you may be able to purchase for a payment that’s comparable to what you’re paying now. And remember, when you pay toward a home purchase each month, you're building equity and advantages for yourself instead of a landlord. Comment below or reach out over your preferred channel if you have questions.

Rent to Mortgage Calculator How much home might your rent payment buy?

With stimulus and tax refunds hitting bank accounts, now's a great time to talk about a new home. The extra cash can help toward a down payment, help you qualify for a higher priced home (I can explain how), or satisfy cash reserve requirements for your purchase. Some loan programs offer low or no down payments, so you may be closer to your new home than you thought. When you're ready, let's look at your particular scenario and see the options available to you!