Real Estate Professionals: A home financing option that can help you sell more homes

The Baby Boom generation represents an important opportunity for real estate professionals to serve a rapidly growing market of people who are motivated to sell their current homes and buy a different one for retirement — one that’s “right-sized,” and may be closer to friends and/or family.

Our Home Equity Conversion Mortgage (HECM) for Purchase home financing solution can make it easier for people age 62 and older to buy a home that better fits their retirement needs and wants.

  • It can help you attract and capture a brand new — and rapidly growing — market of home buyers.
  • Get a larger audience for your listings.
  • More shoppers can become buyers.
  • Buyers get additional spending power, enabling them to better afford upgrades or a more expensive home.
  • Gain more leads from satisfied customers.

How it 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 HECM. (This down payment range assumes closing costs will be financed into the loan.) As with a traditional “forward” 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 even more attractive.

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

Call me today and see why HECMs are a loan for life.

Mark Mauldin
HECM Loan Specialist, NMLS #268066
Call 678-283-7075 | mmauldin@reversefunding.com

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Learn more about this unique home financing solution and how it can impact your business.

 

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