1. Home Equity Conversion Mortgage (HECM) for Purchase
Financing Option:
Tips for Realtors & Builder New Home Sales Consultants
How can HECM for Purchase (H4P) help realtors and builders?
Sell more homes at higher prices
■ Increases purchasing power*—Makes buying a higher priced home with desired upgrades/amenities easier to afford
■ Capture new customers—Baby boomers don’t want monthly mortgage payments, but are hesitant to use the majority
of their assets to purchase a new home
■ Set yourself apart—Be the only professional in your market to offer the program
■ Sell homes faster—Customers must often wait to get the highest price for their departure home; HECM for Purchase
gives them more financial freedom to buy YOUR house faster
*Available proceeds depends on age of youngest borrower, current expected rate and home value
How?
Starting the conversation
■ Benefits of H4P include:
— FHA-insured home financing option
— One-time up-front investment of about 50% of the purchase price; H4P finances the rest
— No monthly mortgage payments are required as long as the customer lives in the home
(As with any mortgage, borrower must remain current with property taxes, insurance and maintenance for the loan
to remain in good standing)
■ Give customers age 62+ the H4P Buyers Guide and let them know that this explains the details
This material has not been reviewed, approved or issued by FHA, HUD or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or
any other government agency.
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act; Loans made or arranged pursuant to a California Finance Lenders Law license.
©2016 Reverse Mortgage Funding LLC, 1455 Broad St., 2nd Floor, Bloomfield, NJ 07003. Company NMLS ID # 1019941. 1-888-494-0882. wwnmlconsumeraccess.org. L290-Exp112016 NV
CHARLES HAMILTON
HECM Loan Specialist, NMLS # 448392
916.267.4068
chamilton@reversefunding.com
reversefunding.com/charles-hamilton
BRANCH LOCATION
1510 Del Webb, Suite B102, Lincoln, CA 95648
Branch NMLS # 1262927