I can be
your Realtor to Purchase your next home as your Realtor for a
Reverse Purchase Mortgage is a highly successful program and
provides a wonderful opportunity to people who are 62 years or
older to move to a home
more suitable for aging. Perhaps
living closer to family members and services or a single level
home or an active adult community will be the best choice!
The purchase reverse mortgage option allows you to minimize your
cash requirement (and keep more money in your retirement
savings), get more home
for your money and have no mortgage
payments to make. Why take money from taxible retirement income
when you can get down payment money from
mortgage and not have to pay income taxes on it? Keep your money
in your investments and let it continue to grow and maximize
How does the reverse mortgage purchase program
The money sources for your new home
purchase comes from your down payment (money you have in
investments or bank accounts, or from the proceeds
sale of your residence) and funds from the reverse mortgage. The
reverse mortgage agreement is that you pay the bank or lender
back after you leave
your home permanently. Therefore there
are no monthly payments during the time you occupy your home.
Based on age of the youngest borrower,
the current expected
interest rate and purchase price of your new home, we calculate
your down payment (HECM Lender).
NO MORTGAGE PAYMENT ever -
age 62 or older - FHA Loan Program for Seniors
As little as 44% down - New Construction, Existing Home or FHA approved Townhome
You will never have a Mortgage Payment as long as you maintain the home as your
Example - Information is for illustravtive purposes only. Interest Rates
and funds available may change daily without notice.
Your Money Down - No Monthly
Mortgage Payment Ever
You Pay your Insurance, Taxes and any HOA fees
If you live in a 2 story home
with the bedroom up.
If you live in a large home and want a smaller home.
If you have no mortgage now and your home is paid off.
You can sell your current home -
take the equity and use that equity to Buy another Home using this FHA backed
Loan with NO MORTGAGE PAYMENT EVER.
You continue to live in your
home and retain title to it.
You can pay off any existing
mortgage on your home, freeing you from that monthly expense.
No monthly mortgage payments are
required for as long as you live in the home and continue to meet your
obligations to pay your property taxes, homeowner insurance and home
Closing costs and ongoing fees
(such as the FHA Mortgage Insurance Premium) can be financed with the reverse
mortgage loan so you pay nothing upfront or during the life of the loan.
If your home increases in value in
the future, you may consider refinancing your reverse mortgage to access even
Loan proceeds are not taxable.
Social Security and Medicare are
As the borrower, neither you nor
your estate will ever owe more than what your home is worth—even if your home
decreases in value when it comes time to repay your loan.
Any remaining equity after
the reverse mortgage is paid off belongs to you or your heirs.
You can sell your current
home - take the equity and use that equity to Buy another Home using this FHA
backed Loan with NO MORTGAGE PAYMENT EVER.
call if you have any questions 704-605-0301
2425 Mullis Ln
Matthews, NC 28105