HOME EQUITY CONVERSION MORTGAGE FOR PURCHASE:
A financing option that can help you sell more homes
The Home Equity Conversion Mortgage (HECM) for Purchase option (nicknamed H4P) can turn shoppers age 62+ into buyers. That’s because it allows them to keep more cash than they could with a conventional mortgage or all-cash purchase. This makes your clients more likely to buy your homes.
Comparing three ways to purchase a new home
* Borrower is responsible for property taxes, homeowners/Flood Insurance payments and property maintenance in order for the loan to remain in good standing. A HECM is a home-secured loan that must be repaid upon default or a maturity event, such as when the home is sold, all homeowners have passed away, or the last surviving borrower no longer lives in the property.
Call me to learn how the HECM for Purchase Program can help you grow your sales.