Purchase Home Using Reverse Mortgage San Diego
Learn How to Buy a Home and Never Pay a Monthly Mortgage Payment Again!
- Downsizing or moving into a more suitable home?
- Having Trouble qualifying for traditional financing?
- Tired of monthly mortgage payments?
Discover The HECM For Purchase Choice
The Home Equity Conversion Mortgage (HECM) for Purchase Program is a Federal Housing Administration (FHA) insured home loan that allows homeowners 62 and older use the equity from the sale of a previous residence, or other personal cash resources, to buy their next primary home in one transaction. Regardless of how long you have lived in the home or what happens to your home’s value, you only make one initial investment (down payment) towards the purchase and never have to make another monthly mortgage payment again.
Reverse Mortgage For Purchase Highlights
•No monthly mortgage payments*
•Can sell the home whenever you wish
•Remain on title and continue to own the home*
•Credit requirements tailored to seniors (generally no credit score requriement)
•It is a Federal Housing Administration (FHA) insured, non-recourse loan
*The borrower(s) must live in the home as their primary residence, continue to pay required property taxes,homeowners insurance and maintain the home according to FHA requirements.
• Affordability –no monthly mortgage
• Purchasing Power – lower upfront
investment than a cash purchase.
• Accessibility – it may be easier to qualify for credit than with a traditional mortgage.
•Buy a home closer to family or friends
•Lower cost of living during retirement*
*The borrower(s) must live in the home as their primary residence, continue to pay required property taxes, homeowners insurance and maintain the home according to FHA requirements.
Learn More AboutThe HECM For Purchase Program
My Commitment is to educating people about the HECM (reverse mortgage) products. I am here to help answer all your questions so you have the facts before you decide if this program is
right for you and your family.
Call today for a free consultation (619) 294-9820
Toll-free (888) 603-1550
Your Local San Diego Reverse Mortgage Specialist
in-home apointments available upon request
Serving all of California