The Benefits of Reverse Mortgage Loans for Homeowners
Dan and the Fairway Reverse Team can help you start a new phase of retirement life. The possibilities are endless, but these are some of the things that many people do with their payouts.
What Are Important Benefits for Homeowners To Be Aware Of?
Everyone can picture the benefits of having more cash flow in retirement—vacations, spending more time with the grandkids, treating yourself in everyday life—but there are other benefits that you might not be aware of.
“Rightsizing” Your Home and Neighborhood
You can purchase a new home using a reverse mortgage loan. This offers a tremendous boost in purchasing power without obligatory monthly mortgage payments. Instead, the borrower covers property expenses, like taxes, insurance and upkeep. If you wanted to upsize, downsize, move to a more expensive area or anything in between, this could be right for you.
Make Retirement Investments Go Further
With a reverse mortgage loan, you can secure your cash flow throughout retirement and change the way your finances work. If you turn a portion of your home equity into cash, you can avoid drawing from your investments when the markets are down, and do so when they’re back up.*
Get New Opportunities for Major Tax Advantages*
As the proceeds from a reverse mortgage are considered a loan—not income—they are off limits to the IRS.* Strategic use of these proceeds offers a host of potential tax advantages, including withdrawing from your IRA in the lowest possible tax bracket percentage.*