Use a Reverse Mortgage to Purchase your home!

Choose the FHA Reverse Mortgage (Home Equity Conversion Mortgage..HECM) for Purchase or the Jumbo Reverse Mortgage loan.

Enjoy the following benefits:

• FHA-insured loan - your loan and home are safe.
• Non-recourse Loan - This means there is no recourse to the borrower, their estate or heirs if the FHA Reverse Mortgage (HECM) loan balance exceeds the home’s value at maturity as long as the borrower or 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 savings for retirement needs.
• Get the highest possible payout from higher-valued homes with the 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 an FHA approved condo
• Purchase a more expensive home without incurring a monthly mortgage payment.
• Relax- The HECM is an FHA insured loan