What is a Reverse Mortgage?

A Reverse Mortgage is a federally regulated program for homeowners, aged 62 and older. It allows the equity in your home to pay you rather than you paying for the home.

What is a Government Insured HECM program?

HECM stands for Home Equity Conversion Mortgage. It is a federally insured and guaranteed program. The HECM is a safe way for you to access the equity in your home without ever making a mortgage payment.

How is this Program “safe” for Senior Homeowners?

No matter what happens in the economy, how much money you receive, or how long you live in your home you will never be required to make a mortgage payment. In addition, no matter what happens to your lender or your home’s value you have guaranteed access to your money.

Who owns the home if I take a Reverse Mortgage?

You own the home. However, you pledge the home as collateral.

What happens if, in the future, the Loan exceeds the Value of the Home?

Your Reverse Mortgage will continue - thanks to the federal insurance. The line of credit will still be available and monthly disbursements you may have set up, will still be sent to you.

How are Reverse Mortgages different today?

Today's reverse mortgages are highly regulated by State and Federal laws to make them safe and to protect you. Among others, the following regulations apply:

- You retain title of the home.
- No equity share is allowed, meaning the lender does not slowly take over your home.
- Fees and costs are federally regulated.

How does a Reverse Mortgage compare to a Conventional Mortgage?

In a conventional forward mortgage, you make monthly payments to the bank eventually paying off the mortgage over time. With a reverse mortgage you receive cash from your lender, as lump sum upfront, as monthly installments or as a line of credit that grows over time. As long as you live in your home you never have to pay off a single dollar of the loan.

What restrictions apply to the cash I receive from a Reverse Mortgage?

It is your money and you can use it the way you want. It’s non-taxable and does not affect Social Security payments. We do recommend that you talk to a competent financial advisor to determine the effect on any other benefits you may be receiving.

When does a Reverse Mortgage become due and what happens then?

When you no longer live in your home or when you pass away, the reverse mortgage becomes due. You or your heirs have two options:
1) Pay off the reverse mortgage including the accrued interest and retain ownership. 2) Give up ownership of the home and receive the difference between the net sales proceeds and the loan balance. You will not be liable for any shortfall if the sales proceeds do not cover the loan. Your loan may also become due and payable if you do not continue meeting the terms of the loan (For example, paying taxes and insurance owed on the property.)

What are my obligations under a Reverse Mortgage?

With a Reverse Mortgage you retain title to your home. This means that you also have all your obligations as a home owner. You are responsible for home owner taxes and insurances.

Your Reverse Mortgage

Based on the information you have provided, you are eligible to receive an estimated $201,588 in proceeds from the government insured HECM Reverse Mortgage. You May Choose How You Want to Receive the Proceeds You can decide how you want to receive the proceeds from the Reverse Mortgage:

Lump Sum Cash at Closing:
Line of Credit:
Monthly Cash Proceeds for Life:
Or a combination

Here Are the Benefits of a Reverse Mortgage

Convert equity in your home into cash to use for any purpose

Pay your bills, invest in other real estate, repair or upgrade your existing home, or even go on vacation. There are no restrictions on how you use the money.

You get to choose the way in which your funds are disbursed to you

In many situations, the income you receive through a reverse mortgage cannot be taxed.

You do not need to move out of your home

You can continue to enjoy all of its comforts while experiencing in the benefits of more flexible finances.

It can never be frozen, reduced or annulled

So long as you are conforming to the terms of your reverse mortgage

Note that a reverse mortgage is not free money; it is a loan like any other. That means that it must eventually be paid off. If you wish, you can pay it off yourself. Otherwise, you can wait for a maturity event such as the death of the last borrower on the loan. At that point, your heirs may decide whether to pay off the loan or sell the house.

Could You Be Eligible for a Reverse Mortgage in Miami?

A reverse mortgage may be the financial answer you have been looking for. Not everyone qualifies however. You will need to meet these basic requirements to pull equity from your home:

Reverse mortgages are only available to those aged 62 or aboveonly one borrower on the loan must fit the age requirement).
You must own 50% or more equity in your home.
A reverse mortgage is only available for your primary residence.
All your payments as pertain to your home must be current. These include not only your mortgage payments, but also homeowners insurance, property taxes, homeowner’s association fees, and so forth.
Your house must be properly maintained.
Your income, credit score, and tax history will be reviewed when you apply for a reverse mortgage.

Choose Lending Bankers Mortgage as Your Reverse Mortgage Company in Miami Florida

If you are ready to boost your available finances during retirement without leaving your home, you can apply for a reverse mortgage today with Lending Bankers Mortgage. We can help you figure out whether a reverse mortgage is the best fit for your situation. If we determine that you are eligible, we will walk you through the application. You are just a phone call away from a higher standard of living and greater comfort during retirement. Call (786) 220-1100 now to get started.

See what you qualify for in 60 seconds or less!

Lending Bankers Mortgage

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J R.

19:55 19 Sep 22

Gustavo is one of the most professional and hardworking mortgage brokers I have ever worked with. Not only he always answers the phone, but he is also extremely knowledgeable and has great... communication skills. The dedication he shows really sets him apart from other mortgage brokers. I'm grateful for the early exposure to updates that he was always giving me. Thank you for making my mortgage process fast and easy. I was a little worried at first, but your team (Katherine and Mariya) put me at ease and guided me through the process step-by-step. I appreciate all your help, and I'm glad that I chose your company to help me with this big purchase. Thank you again for everything!read more

Alberto A.

20:22 18 Sep 22

I worked with Danny Perez during my loan process. Danny was extremely knowledgeable, professional and definitely someone you want to have on your corner! His attention toward me was first in class,... from regular updates, to timely emails, to finding quick solutions when situation arise! I invest in real estate across MIA and I not only found a lender, but an alia I can relay on. Danny Perez is not just a lender, but an extension of your business, whatever your business is (primary home, secondary home, investment property, etc.)Highly recommend Danny for all your lending needs!read more

Dylan G.

02:44 16 Sep 22

As a real estate agent, I had the pleasure of working alongside Danny Perez here at Lending Bankers. Danny is an absolute shark, he first provided my client with multiple options for a loan on a... condo hotel. When my client chose an option, he immediately went to work to secure the loan from the bank for my client. He took on our file, which had many issues along the way, that were not Danny's fault. But, when running into issues, Danny called us immediately to keep us in the loop, then immediately found a solution. His communication with us was always spot on and he didn't mind bringing up bad news, which I respect. He earned our trust by doing this. He ended up getting my client approved for a loan after working night and day to overcome many obstacles. My client and I built an amazing relationship with Danny along the way and we will continue to come back to work only with him when shopping for a loan because we know Danny is a shark!!read more

connie C.

20:42 14 Sep 22

I enjoyed working with Danny Perez. He was courteous, knowledgeable and amazingly responsive. I would recommend him and his company for anyone looking for a good mortgage broker.

Angela R.

19:59 11 Sep 22

Ive worked as a realtor in Miami area for many years. One of the issues we face is trusting the mortgage brokers to prioritize our transaction as much as we are. These ladies (Claudia, Ana & Maria)... always answer the phone, are extremely knowledgable and have great communication skills. The dedication really shows. I never have to reach out to them for updates. They take control of the transaction and its always a smooth ride. They specialize in just about all the tricky clients. Investors, foreigners, self employed, construction, etc.read more

julio B.

16:02 11 Sep 22

For months I procrastinated on finding financing for the purchase of an investment property. Luckily I called this office and Maria Pirela took my call and introduced me to her amazing team.... Communication and attention to detail are their strongest asset. Maria, Claudia and Ana made my transaction run so smoothly, im more motivated to continue investing in real estate.read more

Zoe M.

00:12 10 Sep 22

Ms. Salermo found me the lowest rate ive seen in this market. Maria took care of collecting my documents and Ms. Castano was always available for any questions I had. As an active real estate... investor, these are the people to call.read more

Lorenzo L.

00:04 10 Sep 22

I thought I was never going to be able to qualify for a mortgage as my citizenship is in Brazil. Maria Pirela was very helpful during the document collection phase as I am not very organized with my... documents. Ana and Claudia made sure to give me a variety of rate options. Now I'm enjoying the gorgeous city of Miami. Thank You!!read more

Luis S.

23:23 09 Sep 22

Last week I had an excellent closing. All thanks to Claudia Castano, Maria Pirela and Ana Salermo my transaction closed in 29 days. Other lenders were having issues with my condos approval but they... told me this was their bread and butter. Will contact them for my next financing.read more

Rebeca de C.

21:47 07 Sep 22

Nathaly Velazquez y Gabriel Corrente son los mejores para cualquier necesidad hipotecaria, su profesionalismo y compromiso para resolverte todo, es lo que me hicieron que confiara 100%. Así que los... recomiendo con los ojos cerrados.read more

Giuliana M.

21:31 07 Sep 22

Maria, Claudia and Ana walked me through my first purchase of my condo in Downtown Miami. Wasn’t able to get approved with any other bank but they found a program that allowed me to use my business’s... income instead of my tax returns. Even with my 3 hour time difference in California they still were able to be extremely responsive.read more

Graciela R.

17:46 07 Sep 22

Quiero agradecer especialmente a Nathaly Velazquez y Gabriel Corrente, por su paciencia y especial atención muy profesional, una experiencia que sin duda la recomiendo 100%

Daniel Lugo L.

17:08 07 Sep 22

Outstanding service and experience with Mrs Nathy Velasquez and Mr Gabriel Corrente. Very clear and professional… I would definitely recommend your services to my all friends.

Alex M.

01:30 07 Sep 22

My wife and I are first time buyers. The lending process at Lending Bankers Mortgage was so very well-organized and honestly ideal for our needs. My gratitude to Gustavo, Katherine and Mariya for... being so patient and supportive. Whenever we had questions, they were in contact 24/7 and made it very easy for us!read more

sara G.

00:21 07 Sep 22

Brilliant Service! I would 100% recommend the use of Lending Bankers. I would like to specially thank Gustavo, Mariya and Katherine who kept me informed of the process at all times. I am really... grateful for the hard work and professionalism managing my mortgage application.read more

Gigliola O.

02:14 02 Sep 22

These ladies rock. Thank you Maria, Claudia and Ana for giving me support through my mortgage process. You made it seem very easy and gave me a lot of support considering it was my first home. As... you said now I need to work hard to pay this house and get a bigger one soon .read more

Monica Marie L

02:12 02 Sep 22

I worked with Lending Bankers when I purchased my very first investment property two years ago, it was a very positive experience! I knew barely anything about the process and was scared in the... beginning, but Gustavo provided me with all of the necessary information to answer all my questions and worked very deligently and thoroughly on my case. Not to mention the fact that I was not the easiest client as I changed the loan amount as well as the actual property quite late in the process. We just closed another file with him and Mariya and I could not be happier with the customer service! They are truly the best and I am forever a loyal client who highly recommends them! :)read more

Базелюк Д.

18:42 01 Sep 22

I finally bought a house! Thanks to Mariya, Gustavo and Katherine, I am so happy, they are the ones who made it happen! Can't thank you enough! Very straightforward and knowledgeable mortgage... professionals, always responsive and patient, had all the answers to my endless questions lol. Highly recommend to anyone that is looking to buy a property, I will definitely be using their services again in the nearest future!read more

Mario A.

13:02 01 Sep 22

100 % recomendados, soy Agente de Real Estate y he tenido la oportunidad de trabajar con ellos en varias oportunidades, específicamente con Naty Velásquez y siempre he obtenido una excelente... atención además de una respuesta positiva, rápida y precisa a cada una de los casos planteados. 👏👏👏read more

Lúcia L.

03:17 30 Aug 22

Had an amazing experiemce with Danny Perez . Clearly knew what to do regardi g my issue

Jaime J.

20:58 28 Aug 22

Working with Danny is the easiest and best decision you can make. He really cares about his clients and works hard on their file. Even if out of country, he would make the process go smoothly. Highly... recommend him and the company to any one.read more

Devin C.

14:43 28 Aug 22

Mr. Danny Perez carries himself with so much class, sophistication and professionalism. The knowledge that he possesses is impeccable and I trust that I am in AMAZING HANDS! He explains everything... in great detail and with such confidence, he is a force to be reckoned with in this industry. So grateful for the opportunity to do a lifetime of business with him! Thank you for everything Danny! 🏆read more

Nicole B.

05:31 28 Aug 22

Danny Perez thank you so much for always answering my calls and getting back at me with helping my clients when they looking for help with their mortgage needs. Danny Perez with Lending Bankers cares... about what he does, he respects, treats , and takes cares of his clients with professionalism. Communication is such a key note in everything in life. Well , Let me tell you Danny Perez exceeds all this and more. He always goes above and beyond . Thank you 🙏 again for everything Danny. I can’t wait to do more business with youread more

Efrain M.

22:09 27 Aug 22

Dani P. was amazing to work with! He was persistent with his communication and very helpful!

ST MEDIA G.

17:31 27 Aug 22

Great services! I really like the experience working with Danny Perez.

Monica N.

16:46 27 Aug 22

My experience with Danny Perez is by far more than 5 stars ⭐️. This gentleman is nothing but pure knowledge in the real estate and mortgage industry. He knows the business inside and... out. What I love about him is that every time I need to ask him advice for on a mortgage and real estate he is always on point; he knows how to structure the deal to the point that the banks get it approved .. you rock Danny P. I highly recommend Danny Perez with Lending Bankers to handle your mortgage needs!!read more

Estefanny C.

15:25 27 Aug 22

I’ve been working with Danny Perez and he’s the best. He gives his clients nothing but the best. What i love about him is that he compromises himself, like its for himself and that’s something you... don’t get that a lot these days. Very organized, works everything in a timely manner. God bless you Danny!read more

Ariel P.

14:41 27 Aug 22

Our experience was exceptional with Lending Bankers Mortgage. Danny Perez was absolutely amazing. He was very professional, friendly, and attentive to all our needs. Anytime we had a question, he... would be right there to answer. We really appreciate his patience and eagerness to help us through the mortgage process.read more

FAST N.

14:09 27 Aug 22

Was a great experience working with Danny Perez.Everything went super smooth and I do not have any complain.I would completely recommend working with Lending Bankers after my experience with... Danny. Hope to work with you again in the near future.Thank you for making this an easy closing!Extremely happy !Gigiread more

Joao Miguel L.

13:40 27 Aug 22

I have used financing services all my life. Not one was a satisfying, clearly explained. I would go again and again with Danny Perez. Black on white always truthful

Lending Bankers Mortgage LLC is an Equal Housing Lender. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. Disclaimer: Programs subject to change without notice. All borrowers must qualify per program guidelines.

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