Category: Reverse Mortgage Purchase

Reverse Mortgage Purchase

A Reverse Mortgage Purchase can be a good option for an older homeowner to use when buying a home. The Reverse Mortgage Purchase loan is also known as a HECM for Purchase. It’s obviously not the only way to buy a home, but it’s definitely an under served loan option at present.

Often times older homeowners will downgrade to a smaller home from a bigger home.  Sometimes they will go from a two story to a more “body friendly” single story home. Alot of times it seems like a good idea to take the proceeds of the sale of their former home and pay cash for the newer, cheaper home.  Perhaps it is, but what if you could take a loan and still NOT have a monthly mortgage payment?  For some, that might be a better option.

In the articles within this category, we’ll explore what it is and how it works along with some of it’s quirks.

Contact Reverse Mortgage Loan Advisors @ Info@ReverseMortgageLoanAdvisors.com