A reverse mortgage, called a HECM, can be used to purchase a home while providing a substantial down payment of 35-55% of the purchase price. Qualified borrowers must be at least 62 years old and all occupants must receive counseling. This program allows seniors to downsize, purchase a second home or rental property, buy a new home before selling their current one, or do repairs on a home before selling it. The loan does not require credit qualification or monthly mortgage payments, and the home serves as collateral for the loan that is repaid when the homeowners pass away or no longer live in the home.
Seniors have a important need to relocate to more suitable homes for retirement and aging. The Reverse Mortgage Purchase program is an important tool as retired homeowners do not want mortgage payments and they want to minimize the cash put towards their new home. Realtors must be aware of this program to benefit their older clients and to increase listings and sales.
Everything you wanted to know about reverse mortgages (but were afraid to ask)Joe Heale
Thanks to everyone who attended the Reverse Mortgage 101 webinar on May 18th! For those who couldn't attend, we have created this slide share. We welcome you to share the presentation with your network.
Seniors have a important need to relocate to more suitable homes for retirement and aging. The Reverse Mortgage Purchase program is an important tool as retired homeowners do not want mortgage payments and they want to minimize the cash put towards their new home. Realtors must be aware of this program to benefit their older clients and to increase listings and sales.
Everything you wanted to know about reverse mortgages (but were afraid to ask)Joe Heale
Thanks to everyone who attended the Reverse Mortgage 101 webinar on May 18th! For those who couldn't attend, we have created this slide share. We welcome you to share the presentation with your network.
Gary Zimmermann from ENVOY MORTGAGE did his presentation on 03/28/12 at the Milwaukee Networking Club. Check out the presentation and the video clip and if you want more information goto
http://milwaukeenetworkingclub.net/envoymortgage.htm
Step by step process to buying a home. Everything you need to know from making the offer, to getting the proper inspections, the paperwork, and closing process.
Mike Hall
Http://www.myohiohouse.com
614-937-4162
Imagine a mortgage loan that does not require monthly payments. A reverse mortgage (RM) is just the type of mortgage loan, which is reserved for older homeowners. Being a type of home equity loan, it is usually repaid after the borrower(s) moves out or expire(s). While it is often considered a last-resort source of income, RM has become a popular retirement planning tool for many homeowners. Check out this infographic to find the answers to some of the frequently asked questions on RM.
CAN YOU IMAGINE BUYING WITH NO CREDIT SCORE REQUIREMENTS, NO DEBT TO INCOME REQUIREMENTS
ITS HERE NOW !! Changing perspective on Reverse Mortgage the NEW HOME EQUITY CONVERSION MORTGAGE
Reverse for purchase for Realtors ppt 8 8-2019Jack Benke
As we age, the home we lived in for 40 years may no longer work. Transitioning to more suitable housing can be difficult because the value of the home we live in is less then the new home we want to purchase. Here is the solution, if you are 62+.
• What is a Reverse Mortgage?
• What is the Home Equity Conversion Mortgage
(HECM) for Purchase?
• How can it help you build your business?
• How can it help senior homebuyers?
• Example of a HECM for Purchase transaction
Gary Zimmermann from ENVOY MORTGAGE did his presentation on 03/28/12 at the Milwaukee Networking Club. Check out the presentation and the video clip and if you want more information goto
http://milwaukeenetworkingclub.net/envoymortgage.htm
Step by step process to buying a home. Everything you need to know from making the offer, to getting the proper inspections, the paperwork, and closing process.
Mike Hall
Http://www.myohiohouse.com
614-937-4162
Imagine a mortgage loan that does not require monthly payments. A reverse mortgage (RM) is just the type of mortgage loan, which is reserved for older homeowners. Being a type of home equity loan, it is usually repaid after the borrower(s) moves out or expire(s). While it is often considered a last-resort source of income, RM has become a popular retirement planning tool for many homeowners. Check out this infographic to find the answers to some of the frequently asked questions on RM.
CAN YOU IMAGINE BUYING WITH NO CREDIT SCORE REQUIREMENTS, NO DEBT TO INCOME REQUIREMENTS
ITS HERE NOW !! Changing perspective on Reverse Mortgage the NEW HOME EQUITY CONVERSION MORTGAGE
Reverse for purchase for Realtors ppt 8 8-2019Jack Benke
As we age, the home we lived in for 40 years may no longer work. Transitioning to more suitable housing can be difficult because the value of the home we live in is less then the new home we want to purchase. Here is the solution, if you are 62+.
• What is a Reverse Mortgage?
• What is the Home Equity Conversion Mortgage
(HECM) for Purchase?
• How can it help you build your business?
• How can it help senior homebuyers?
• Example of a HECM for Purchase transaction
This is a copy of the PowerPoint presentation I use when teaching about Reverse Mortgages. If you are interested in learning more about a Revers Mortgage please contact me.
FHA Reverse Mortgage Purchase loan product designed for consumers 62 or older who want to downsize and buy a smaller home, but lack the income requirements for a conventional mortgage.
An FHA-insured reverse mortgage loan that enables homebuyers, at least 62 years of age, to purchase
a new primary residence and obtain a reverse mortgage
loan in simultaneous transactions without the required
monthly mortgage payments of a traditional mortgage
Southwest Funding, LP a leader in Home Equity Conversion Mortgages more commonly know as a Reverse Mortgage. We are here to help you make an informed decision.
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