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TYPE OF SERVICE

Reverse Mortgage

A reverse mortgage is a sophisticated financial arrangement wherein a homeowner surrenders equity in their residence, receiving regular payments, typically designed to supplement retirement income. In stark contrast to traditional mortgages that diminish as loan payments progress, reverse mortgages appreciate over time due to accruing interest on the loan.

To qualify for this financial instrument, individuals must meet specific criteria:

  1. Age Requirement: Applicants must be 62 years old or older, with the option to qualify as early as age 60.

  2. Equity Accumulation: Eligibility is contingent upon having built up substantial equity in the property.

The nomenclature “reverse mortgage” derives from the unique characteristic wherein the lender disburses funds to the borrower—an inversion of the conventional mortgage structure.

Despite this innovative approach, certain obligations persist. Reverse mortgage recipients are still responsible for ongoing payments related to real estate taxes, insurance, and association fees, if applicable. Non-compliance with these financial responsibilities may lead to foreclosure.

Understanding the intricacies of reverse mortgages is paramount, and individuals considering this option should seek professional advice to ensure informed decision-making aligned with their financial goals.

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ABOUT US

MIAMI CAPITAL Lending provides customized residential mortgages for purchasing or refinancing homes. We offer personalized mortgage services such as both FNMA/FHLMC specialty loans, 90% LTV with no mortgage insurance, 95% LTV down to a 580-credit score. We also offer 15-30 year loans, ARM mortgages, fixed mortgages, VA loans, equity lines, FHA loans, conventional loans, jumbo loans, reverse mortgages and USDA  loans.

WE ENJOY WORKING

Why People Choose Us

Buy a Home

Buying a home with Miami Capital Lending is straightforward, stress-free, and personalized, ensuring a smooth path to homeownership.

Reverse Mortgage

MCL makes obtaining a reverse mortgage easy with expert guidance, personalized service, and a seamless, hassle-free process.

VA Mortgage

Obtaining a VA mortgage with Miami Capital Lending is simple and efficient, offering veterans personalized service and expert guidance throughout.

Home Equity Line/Loan

Miami Capital Lending simplifies obtaining a Home Equity Line/Loan with a streamlined process, expert advice, and personalized service for your needs.

Questions? We'll Put You On A Right Path!

Unlock your financial potential with Miami Capital Lending! Call us today at 786-622-2224 for expert guidance on mortgage solutions.

This is the day we make a difference!