Your home, your retirement
Reverse mortgage is a goverment-insured loan program that allows homeowner age 62 and older to maintain their financial freedom.
Reverse Mortgage for Purchase
Use a reverse mortgage for Purchase Program to purchase your next home
Choose the home equity Conversion Mortgage (HECM) for Purchase or the Generation Plus® Jumbo loan.
Enjoy the following benefits:
- Your loan and home are safe.
- This means, there is no recourse to the borrower, their estate or heirs if the HECM loan balance exceeds the home’s value at maturity as long as the borrower on their estate sell the property to pay off the debt. If the borrower or their estate want to retain the property, the balance must be paid in full. Any equity remaining in the property after the reverse mortgage is retired belongs to the borrower or their estate.
No Monthly Mortgage Payments – Cash flow is preserved
The homebuyer enjoys just one set of closing costs
Potentially allows client’s additional saving for retirement needs.
Get the highest possible pay out from higher-valued homes with the Generation Plus® jumbo reverse mortgage
Retain title to your home
Homeowner continues to pay insurance and property taxes. Live in and maintain home. Home must be primary residence. Program not currently available in all states.
A reverse Mortgage for Purchase Could Allow You to:
• Downsize for more affordable living
• Relocate to be closer to family
• Purchase a single level, more accessible home
• Buy or sell a condo
• Purchase a more expensive home without incurring a monthly mortgage payment*
• Relax – the HECM is an FHA-insured loan
Free Personal Analysis
Discover if a reverse mortgage loan is right for you. Please fill out the form to receive your free complete report with a breakdown of the costs and guidelines.
Time is running out for saving money
The mortgage insurance is going up to mandatory fee of 2.00% Upfront and 0.50% Per Annual. You can still get the previous fees and also be able to get more funds as long as you get started by October 2, 2017!