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Builders & Remodelers

Builders & Remodelers

California builders: The smart home financing option that can help you sell more homes and upgrades

Reverse mortgages can help you sell more homes by making it easier for older homeowners to buy the home they desire. This proven loan option can give them additional spending power, making it easier to afford the amenities they need or the upgrades they want.

 

How a reverse mortgage works

Buyers can purchase a home by combining a one-time investment of their own funds (a down payment of typically about 45% to 62%, depending on borrower age) with loan proceeds from a reverse mortgage.

 

As with a traditional mortgage, the home they purchase secures the loan. But unlike a traditional mortgage, monthly mortgage payments are optional while they own and live in the home as their primary residence — making buying a new home in even more attractive.

 

As with any home-secured loan, the borrower must meet their loan obligations, keeping current with property taxes, insurance and maintenance.

 

Expand the market you serve

A reverse mortgage home financing solution can help you sell more homes, by making it easier for people and older to buy the home they desire.

 
  • Capture a brand new — and rapidly growing — market of home buyers
  • More shoppers can become buyers, because they keep more of their cash compared to a conventional mortgage or all-cash purchase
  • Buyers gain additional spending power to put toward upgrades or a higher-end home
 

Reach out to learn more about reverse mortgages — I’m glad to help!

 

This down payment range assumes closing costs will be financed into the loan. The information being displayed is for illustrative purposes only. Actual cash required may vary and is based on age of youngest borrower, interest rate, home value, and other factors. Please contact Reverse Mortgage Funding LLC (RMF) for details about credit costs and terms.