¿Qué es una hipoteca inversa?
Si tiene 62 años o más, puede convertir el capital de su propiedad en efectivo, una línea de crédito o un pago mensual de un prestamista de hipoteca inversa. Nota: Los productos patentados están disponibles para prestatarios de tan solo 55 años en algunos estados
¿Por qué se llama hipoteca inversa? El motivo es sorprendentemente simple: en una hipoteca tradicional, usted realiza pagos mensuales a su prestamista. Pero en una hipoteca inversa, el prestamista le paga.
Eso es lo que hace que este programa hipotecario sea una característica atractiva para los jubilados: proporciona una fuente de ingresos complementaria una vez que se jubila.
Los prestamistas no pueden retirar el préstamo a menos que el propietario muera, venda la vivienda o se mude. En circunstancias normales, el préstamo se transferirá a sus herederos una vez que usted lo transfiera, y se puede pagar fácilmente de la venta de la casa.
Profesionales de hipotecas inversas
¿Cuáles son algunas ventajas y desventajas notables de la hipoteca inversa? Muchos propietarios utilizan hipotecas inversas para financiar sus años de jubilación y complementar otras fuentes de ingresos, como el Seguro Social. Estos son algunos otros profesionales de hipoteca inversa que vale la pena considerar.
Desventajas de la hipoteca inversa
A pesar de varias ventajas importantes, aún quedan algunas desventajas que los propietarios de vivienda deben considerar antes de ingresar a una hipoteca inversa.
Elegibilidad para hipoteca inversa
You must meet certain requirements to qualify, including:
- You must be at least 62 years of age (55yrs+ on some proprietary products in certain states)
- You must own your home outright or have decent equity available
- The home must be your principal place of residence
- The home must be in good shape and meet FHA minimum property standards
- You must be free from any federal debt defaults and not currently in bankruptcy proceedings (income taxes, federal student loans)
Finally, before you qualify, you may be asked to meet with a counselor approved by the U.S. Department of Housing and Urban Development (HUD). The purpose of this interview is to highlight the pros and cons of reverse mortgages, discuss your financial preparedness, and consider possible alternatives.
Tipos de hipotecas inversas
Not all reverse mortgages are the same. Different types of reverse mortgages offer unique advantages, though they can also bring different fee structures, interest rates, and more.
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HECM (hipoteca de conversión del valor de la vivienda)
One of the most common types of reverse mortgages is the Home Equity Conversion Mortgage (HECM). The main advantage of HECMs is that they’re federally insured and backed by the U.S. Department of Housing and Urban Development (HUD).
HECMs can be quite flexible, with no income limitations or medical requirements.
You should also be prepared to pay mortgage insurance premiums (MIPs). These fees consist of a 2% upfront fee and a 0.5% monthly fee over the life of your loan. You can finance both fees through your loan, though doing so will reduce the amount you receive.
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Hipoteca inversa de propiedad exclusiva
Proprietary reverse mortgages are backed by private lenders. Their primary advantage is that these lenders will often appraise your home at a comparatively high value, which can give retirees a larger amount of money to draw from.
Because the federal government doesn’t back proprietary reverse mortgages, recipients aren’t responsible for making upfront or monthly insurance premiums. That usually means you’ll be able to borrow more, which can add to the overall value of the program.
Just make sure you compare mortgage interest rates and other terms between at least three lenders. That way, you can obtain the best rates and terms and avoid hefty origination fees or hidden costs.
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Hipoteca inversa de un solo propósito
A single-purpose reverse mortgage is the least expensive option and one that may be backed by local or state government agencies or nonprofits. But that also means that this reverse mortgage program is not available in all 50 states, so you’ll need to check with a reverse mortgage lender to determine whether this program is available to you.
As the name suggests, single-purpose reverse mortgages are designed to finance one specific need, such as covering taxes or performing a home renovation or repair.
Lenders must approve this need before issuing the reverse mortgage, which means you have much less flexibility than with the previous two options.
Opciones de pago y desembolso
How do you claim the funds from a reverse mortgage? There are several different options. More specifically, you can receive your mortgage payments in one of three ways:
- Monthly payments for a set period (term option)
- Monthly payments for as long as you own the house (tenure option)
- A line of credit
También puede combinar algunas de estas opciones. Por ejemplo, puede emparejar pagos mensuales con una línea de crédito para obtener la máxima flexibilidad.
Consideraciones para hacer
As you weigh the pros and cons of reverse mortgages, you’ll also need to ask yourself questions related to your financial future.
- ¿Está aumentando el valor de mi casa? Si la v alue de la estimación del valor de su vivienda<6.2 home value estimator> está aumentando, puede solicitar una hipoteca inversa basada en su valor acumulado actual y transferir el valor restante de su vivienda a través de su patrimonio.
- Do I plan on remaining in my home? Remember, a reverse mortgage is due once you sell your home. If you plan on staying in your home for a long time, a reverse mortgage can be a good way to receive income without having to worry about repayment.
- Can I cover the cost of my current home? A reverse mortgage won’t necessarily help you cover the current costs of homeownership. And if you get behind with taxes or other expenses, you risk foreclosure. That said, if you’re already reasonably secure, a reverse mortgage can help you supplement your current income.
Analice sus opciones de hipoteca inversa
Before you make any big decisions, it’s a good idea to sit down with a qualified financial advisor or discuss your financial future with your loved ones. A reverse mortgage can have a certain appeal, but the risks that can come with it shouldn’t be taken lightly.
If you’re looking for ways to tap into additional money after you retire, you might consider alternatives like:
- Personal loans
- Una línea de crédito sobre el valor acumulado de la vivienda (HELOC)
- Un préstamo sobre el valor acumulado de la vivienda
If your home’s mortgage isn’t paid off, it might also be an appropriate time to consider refinance loan options. Refinancing your home will lock in a lower interest rate, which can reduce your monthly payments during a season of life when your cash flow is limited.
