Buy a New Home with a Reverse Mortgage Loan
You Can Buy a New Home with a Reverse Mortgage Loan!
Very few real estate agents are aware that a qualified senior may use a reverse mortgage loan to purchase a new home. Why pay 100% cash when you can put as little down as 50% and keep the rest as cash reserves or working in your retirement accounts? That on top of the option to have no monthly mortgage payments. You, of course, are still responsible for real estate taxes and insurance payments, maintaining your home and other loan requirements.
A reverse mortgage or HECM for purchase is an advanced financial planning technique. For specific details on using a reverse mortgage to purchase a new home, call us today at 877-499-7283. Or simply complete our easy-to-use web contact form.