Reverse Mortgage for Home Purchase  

  

Reverse mortgage for home purchase: Effective early 2009 realtors now use a reverse mortgage to help seniors purchase a home with a down payment of just 30% to 50% and the client never has to make a mortgage payment - for life.   

Benefits: 

1.) consider increasing standard of living by purchasing a nicer home using a reverse mortgage

2.) The Realtor can assist by selling the current (older) home and help their client move into a more modern home, condo or even a maintenance-free townhouse. 

 
Realtors are eager to help as they get two-for-one;

1.) The listing and

2.) The sale of the newer home. 

Also remember that there is no income or credit requirement for the client (age 62+).

  

 

Click here to read the Mortgagee Letter from the (former) Assistant Secretary of HUD, Brian Montgomery, about the HECM for Purchase program.  

Click here
for a 1 hour informational webinar regarding the Reverse for Purchase program

  

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HECM for Purchase