Are villas eligible for reverse mortgages?
Short answer: Yes. If it's your primary residence and ticks off the other eligibility boxes, your villa can be just as eligible as a standard house.
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Absolutely! Villas can qualify for a reverse mortgage, just like any other type of home, as long as it meets all the standard criteria set by the lender. It's all about the property's value, homeowner's age, and equity. So, if you've got a villa and you're considering a reverse mortgage, best to chat with a lender to get the specifics.
No way, why would you put your villa on a reverse mortgage? Better to enjoy it or rent it out for extra income!
From my experience, yes, villas are eligible. My aunt went through the process last year with her own villa and had no issues. Just make sure you're dealing with a reputable lender!
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