HECM For Purchase: Realtors and Boomers Pay Attention
The HECM for Purchase program is becoming more and more popular as senior homeowners continue to buy and sell homes. The National Association of Realtors conducted a recent survey titled "Home Buyer and Seller Generational Trends" which shows a trend emerging among baby boomers. The findings show that 30% of baby boomers (nearly 24 million people) have recently purchased a home, and that 43% (roughly 33 million) have recently sold a home. There are different motivations that have been documented on why the demand to buy and sell, however one thing for sure is that this segment of the population is making an impact on the housing market.
Research has shown that senior homeowners prefer to pay cash for their home to avoid monthly mortgage payments. One downside of this is the amount of cash tied up in real estate which causes a lack of liquidity for other retirement and investment needs. The HECM for Purchase (H4P) will finance over 50% of the sales price allowing the remaining cash to be on hand or placed in liquid investments. Therefore, one's cash is less susceptible to a potential unstable real estate market, and it can be better utilized for retirement planning.
I have been educating realtors and homeowners on this product for several years now, and I believe that the H4P makes a lot of sense for a lot of people. I am licensed nationwide to help you qualify and buy a home with this loan program. Contact me anytime to discuss how this program can work for you.
For more information on reverse mortgages and other related topics contact:
Rick R. Rodriguez
Certified Reverse Mortgage Professional, CRMP
NMLS# 473353
Toll Free (877) 500-0454
Local (702) 460-6222
Research has shown that senior homeowners prefer to pay cash for their home to avoid monthly mortgage payments. One downside of this is the amount of cash tied up in real estate which causes a lack of liquidity for other retirement and investment needs. The HECM for Purchase (H4P) will finance over 50% of the sales price allowing the remaining cash to be on hand or placed in liquid investments. Therefore, one's cash is less susceptible to a potential unstable real estate market, and it can be better utilized for retirement planning.
I have been educating realtors and homeowners on this product for several years now, and I believe that the H4P makes a lot of sense for a lot of people. I am licensed nationwide to help you qualify and buy a home with this loan program. Contact me anytime to discuss how this program can work for you.
For more information on reverse mortgages and other related topics contact:
Rick R. Rodriguez
Certified Reverse Mortgage Professional, CRMP
NMLS# 473353
Toll Free (877) 500-0454
Local (702) 460-6222
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