Nebraska Reverse Mortgages

A Nebraska reverse mortgage can help you achieve the financial freedom you deserve while living in the state you love.

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How a Reverse Mortgage Works in Nebraska

Homeowners looking for financial freedom may benefit from a reverse mortgage in Nebraska. Also known as a home equity conversion mortgage (HECM), this financial product enables eligible borrowers to tap into a portion of their home equity and convert it into loan proceeds that can be used as disposable cash. A Nebraska reverse mortgage may help by:

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Preserving retirement savings
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Supplementing or delaying Social Security benefits
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Covering the cost of living expenses
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Paying for unexpected medical bills
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Financing home repairs and renovations
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Affording leisure or travel expenses

Provided that you meet reverse mortgage qualifications in Nebraska, the loan proceeds may allow you to remain at home while living a full, vibrant life. You can read GoodLife’s reverse mortgage guide for a complete explanation of how the HECM program works.

To learn more about the structure of a reverse mortgage in Nebraska, download GoodLife’s reverse mortgage guide for additional information.

REVERSE MORTGAGE GUIDE

Reverse Mortgage Qualifications & Requirements

The HECM program is federally insured through the Federal Housing Administration (FHA) and overseen by the U.S. Dept. of Housing and Urban Development (HUD). Federally established reverse mortgage eligibility criteria which states that borrowers must:

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Be at least 62 years of age
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Own substantial home equity
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Live in the property as their primary residence
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Attend a HUD-approved counseling session
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Maintain FHA property standards
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Keep current on outstanding financial obligations

If you’re uncertain whether you meet reverse mortgage requirements in Nebraska, contact our experienced Reverse Mortgage Specialists for further assistance.

Do you qualify for a Nebraska reverse mortgage?

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Nebraska Reverse Mortgage Calculator

Our reverse mortgage calculator can give you a free estimate of how much home equity you may be able to access to increase your cash flow.

Reverse Mortgage Calculator
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you may qualify for
Qualification is based on the age of the youngest borrower, appraised property value, and current interest rates. Outstanding financial obligations and closing costs may impact the amount of your available loan proceeds.
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PAYOUT OPTION
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Lump Sum At Fixed Rate
This option allows you to receive a fixed interest rate on loan proceeds by taking a large, one-time payout at the time of close.
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Lump Sum At Variable Rate
By taking a portion of loan proceeds in a lump sum at the time of close, you can later withdraw additional funds at a variable interest rate.
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Line of Credit
A HECM credit line offers greater flexibility by allowing you to access loan proceeds as-needed. You only pay interest on the money you use, and the line of available credit grows over time.
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Contact our licensed reverse mortgage experts for an exact quote
Learn more with a free guide

Nebraska Reverse Mortgage Process

If you’re looking for a reliable Nebraska reverse mortgage company, GoodLife is backed by years of experience and is committed to helping people achieve the quality of life they deserve. We break our reverse mortgage application process down into four simple steps:

Consultation

A GoodLife Reverse Mortgage Specialist learns about your unique financial circumstances and discusses whether a HECM may be a viable solution to help you reach your goals in retirement.

Counseling

Borrowers meet with a counselor approved by HUD, who acts as an objective third-party when explaining how a reverse mortgage in Nebraska applies to your personal situation.

Application

During the application process, a certified appraiser will ensure the property meets FHA standards. They will also conduct an appraisal that helps determine the value of the property; you can estimate how much you may qualify to borrow by referring to our reverse mortgage calculator.

Receive funding

Once the loan application is approved, borrowers may elect to receive their proceeds dispersed as a lump sum, line of credit, or monthly installment.

Reverse Mortgages in Nebraska: FAQs

If you have remaining questions about reverse mortgages in Nebraska, refer to our reverse mortgage FAQ for additional answers or get in touch for more information.

How are reverse mortgages calculated?

The value of a reverse mortgage loan is determined by three factors: 1) the age of the youngest borrower; 2) the appraised property value; 3) the current interest rates.

How are interest rates determined?

Interest rates may be fixed or variable. Your lender will use an index and margin to calculate the interest rate of the loan during the application process.

Do you make monthly payments on a reverse mortgage?

Borrowers have the option to submit monthly loan payments, but repayment is not required until the reverse mortgage reaches a maturity event triggering its Due and Payable status.

For more information on HECMs in Nebraska, refer to GoodLife’s informative resource center or contact one of our Reverse Mortgage Specialists to see whether we may be able to help you live The GoodLife in Retirement.

For more information on Nebraska reverse mortgages, refer to GoodLife’s informative reverse mortgage FAQ. You can also contact one of our Reverse Mortgage Specialists to find out more.

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Download the Reverse Mortgage Guide

Fill out the form to download our comprehensive GoodLife Guide to Reverse Mortgages or call to speak with a GoodLife Specialist!

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