Reverse Mortgage Loans in Boca Raton

You’re very lucky if you’re a senior citizen who’s been able to pay off the remainder of your mortgage with no issues at all. If, however, you’re on the other end of the stick, you’re burdened with paying off a mortgage, resulting in you looking through lists of qualified reverse mortgage lenders in Boca Raton, FL. And if you happen to be one of them, then you know just how burdening it can be looking for lenders.

All the reverse mortgage lenders in Boca Raton, FL are more than willing to make you an amazing offer on the spot that seems appealing. But it’s important that you’re mindful of the fact that while such offers seem appealing, you should also be aware that not all reverse mortgage lenders in Boca Raton, FL offer the same set of terms. So if you’re done with being burdened with trying to find the best loan lender, pick up the phone and call the experts over at American Bancshares immediately. American Bancshares is composed of industry experts ready to assist you.

Our 20+ years of experience have accumulated because of our unequal services provided by our members who carry a deep devotion to empowering communities. And thanks to this, we’re widely recognized throughout central Florida as the best Boca Raton reverse mortgage lenders. If you would like to learn more about why you should hire us as well as what a reverse mortgage is, then continue reading below.

Why You Should Choose American Bancshares For a Reverse Mortgage in Boca Raton, FL

We here at American Bancshares are widely recognized and admired for being one of the best and most established Boca Raton reverse mortgage lenders. But moreover, we’re even recognized for being a reliable reverse mortgage lender. Thanks to our 20+ years of experience, we’ve helped numerous partners and communities. Thanks to our work, our services have extended far across the nation.

Our company’s structure was designed and developed by the most experienced industry experts who carry a deep understanding of the modern home financing market. In contrast to banks, our organization offers mortgage products, meaning that all of our reverse mortgage lenders in Boca Raton are licensed and deeply knowledgeable in mortgage lending. Their expertise hasn’t only allowed them to provide clients with ethical and professional advice but has also assisted them to find the right loan with a rate, terms, and cost-effectiveness that’s most beneficial to your best interests.

The organization of American Bancshares as a whole is deeply passionate about serving the community. And this is often due to the fact that our organization’s core values include:

  • Commitment
  • Integrity
  • Transparency

Most of our team — including our senior management — have held just about every single position in the mortgage industry. Because of this, we’re able to gain amazing insight from many different perspectives paired with deep knowledge of the industry. Plus, with countless different perspectives, we’re able to be flexible with industry changes while still being able to effectively give clients unequal services and first-in-class customer service that American Bancshares is widely known for.

American Bancshares possesses leveraged technology to give you a simple, straightforward, online stress-free mortgage application experience. Through us, you’ll be provided with our reverse mortgage in Boca Raton that will help you acquire the property you want to buy.

Reverse Mortgage in Boca Raton, FL

You’ve been living in your home for quite some time now and you’ve recently been struggling with keeping up with mortgage payments. But if you’re 62 years or older and carry considerable home equity, you can borrow against the value of your property in whatever payment type best fits your needs. Unlike your typical mortgage loans, reverse mortgages don’t require that you make any loan payments.

In the modern world, you need to be careful when applying for a reverse mortgage in Boca Raton. Boca Raton reverse mortgage lenders you seek services from may attempt to scam you. This is why you should always receive a reverse mortgage from reputable reverse mortgage lenders in Boca Raton.

When you speak with us, we’ll be able to indicate to you if a reverse mortgage is the best course of action for you

How a Reverse Mortgage in Boca Raton Works

Instead of you, the homeowner, making payments to the lender, a reverse mortgage allows the lender to make payments to you. As a homeowner, you’ll be able to choose how you would like to receive these payments and you’ll only pay interest on the proceeds received. The interest is rolled into the loan balance so you won’t have to pay anything upfront. You’ll also be able to keep the title of your home and your debt will increase as home equity is decreased.

As it is with a forward mortgage, your home will serve as the collateral for a reverse mortgage. When you move away or become deceased, the proceeds from your home’s sale go to the lender to make sure payment of the reverse mortgage’s principal, interest, mortgage, insurance, and miscellaneous fees. For any sale proceeds beyond what was borrowed, they’ll go to you (if you are still alive) or to your estate (if you are deceased). In some cases, your heirs might choose to pay off the mortgage so they can keep the home.

Reverse mortgage proceeds are not taxable. While they might feel like income to the homeowner, the IRS considers the money to be a loan advance.

Hire American Bancshares For Their Reverse Mortgage in Boca Raton

When you’re ready to purchase your desired property and need assistance from qualified reverse mortgage lenders in Boca Raton, Florida, pick up the phone and call the experts over at American Bancshares. American Bancshares has been trusted by numerous clients for not only their professionalism and expertise but also for their devotion to helping you become a part of a better community. For any inquiries, you may call us at 1-833-937-2276 or sign up for a free consultation online.

Our passion for growing communities

Servicing the community is driven by our core values of commitment, integrity, and transparency. Many of our team members and most of our senior management have sat in every chair of the mortgage industry, providing us with a full understanding of the business from all aspects. This in-depth knowledge is what allows us to quickly and efficiently adapt to industry change, while constantly providing you with superior processes and first-in-class customer service.

We have leveraged technology to bring you a simple, straightforward, online stress-free mortgage application experience.

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