For years, Reverse Mortgages have gotten a bad rap. Quite frankly, some of it was misinformation, but with recent improvements and better regulations, a Reverse Mortgage may be a Seniors best bet to living out their years worry-free.
There are different structures of reverse mortgages and differing amounts based on age but with the largest generation hitting retirement age so soon after the great recession, many “Boomers” are finding Reverse Mortgages an appealing strategy.
This is not anecdotal for me. I watched my mom struggle with bills until she was able to obtain a Reverse Mortgage. And while it’s not ideal for all buyers or refinance situations, it can represent much-needed relief to our elders who wish to age-in-place.
Reasons purchasing in a Reverse Mortgage may work for you:
- Move Up Move Down— Right Size!
- Purchase Investment Property
- Purchase 2nd Home
- Gifting To Family Or Donating To Charitable Organizations*
- Selling A Home With A Reverse Mortgage Lien
- Eliminate A Mortgage Payment (Payment Of Taxes And Insurance Required, As Is Maintenance Of The Home)
In order to qualify:
- Age 62 Or Older
- FHA-Qualified Home
- Must Live In Home More Than 6 Months A Year
- Does NOT Require Repayment Until*
- The Last Living Borrower Permanently Leaves The Home
- Borrower Chooses To Sell The Property
- Never Owe More Than Home Value – With
FHA-Insured Reverse Mortgages
- Able To Purchase A Home For 30-70% Down Of New Residence Sale Price
Simply fill out the form below and our team members will connect you with your Reverse Mortgage Expert…