Have You Thought About “Right-Sizing?”

HECM for
Purchase Basics:
Down payment is about
1/2 the sales price
No required mortgage
payments
(payment are optional)
Minimal credit and
income requirements
At least one borrower
needs to be 62 or older
Federally insured for your protection
 

At some point in retirement the decision for many seniors to “Right-Size” starts with carefully identifying your priorities, requirements, stage in life, and matching it to the home or community that is a perfect fit for you whether it be:

  •   Upsizing to a home that better fits your lifestyle
  •   Downsizing to a home that is more manageable
  •   Moving to a new “active” retirement community
  •   Moving closer to family

Use the (Home Equity Conversion Mortgage) HECM for Purchase (H4P) product to buy a “Right- Sized” home that fits your needs without the financial burden of a mortgage payment. Combining a one-time down payment with the proceeds from a HECM allows you to complete a purchase transaction making it the same as if you bought your home with 100% cash.

Since you don’t need 100% of the purchase price, the savings can allow you to reinvest the money back into your savings. The H4P can be just the thing you need to start living your retirement your way.

EXAMPLE:
Jim and Carol sold their home up north and want to purchase their dream retirement home without a monthly mortgage payment, but they also don’t want to spend all their cash.
How can they accomplish both?
The answer is with the
HECM for Purchase!
COST of New Home$400,000
DOWN PAYMENT52%
HECM Proceeds48%
Cash Saved:$192,000
Jim and Carol now live in their new home with NO mortgage payments and they have a significant amount of cash left over for future needs.