Want to stay in your home after retirement? You are not alone! AARP's 2024 Study found that 75% of those over aged 50 wish to remain in their homes as they age. Read more for pro-tips on alternative funding sources that will allow you to create beautiful, safe spaces for the rest of your journey!
Reverse Mortgage: This allows seniors age 62 and older to convert home equity to cash. There are no monthly payments, owners remain in their home and the loan is repaid once the borrower is no longer occupying the home.
Home Equity Line of Credit (HELOC): This option allows the homeowner to leverage their home equity and receive one lump sum based on the home’s value. Regular monthly payments are made to the lender.
0 % Interest Credit Card: Many banks offer credit cards with no interest for 18 months. This provides flexibility for smaller purchases (like a straight stair lift for example) that can be paid off in a fairly short period of time.
Federal & State Grants: Explore USDA Rural Deveopment Home Repair Grants, the Georgia DCA Home Access Program which is designed to support those living with traumatic brain injury or an acquired spinal cord injury, or Creditable the alternative financing program provided through FODAC.
At Mobility Plus Alpharetta, we sell and are licensed to install stair lifts, residential elevators, vertical platform lifts and grab bars! Call us today at (470) 545-1827 to schedule your in-home evaluation, or visit us Mon-Fri 10-5pm and Sat. 9-1pm in our Alpharetta showroom!
