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"Helping Secure Your Best Retirement"
A Reverse For Purchase is an excellent way for you to purchase your next home. Instead of paying all cash or using a traditional mortgage, the reverse mortgage will cover a significant portion of the purchase price allowing you to keep some of your money in the bank or purchase a higher value home than you would have been able to paying all cash and best of all once you move in you do not have a mortgage payment. Buyers will need to have a substantial down payment. Homeowner is still responsible for paying property taxes and homeowners insurance while they live in the home.
Example
Cindy who is 67 sold her departure home for 650K . After she paid off her mortgage and covered closing costs she received 330K.
She bought a new home for 445K
The reverse mortgage covered 170K of the purchase and Cindy covered the rest, 275K.
This allowed Cindy to buy a home for much more than she could have with just cash and keep $55,000 in the bank for future needs.
Let us know and one of our lending professionals will be happy to answer any of your questions.
Personal NMLS#126017
Company NMLS# 1842513
Reverse Mortgage Northwest
19324 69th Place West #7
Lynnwood, WA 98036
These materials are not from HUD, FHA, the USDA, or the VA. These materials were not approved by any government agency. They are independent of any government agency. We are not in any way affiliated with any organization listed or referenced within this website, including HUD/FHA/USDA/VA. The inclusion of various education, information, web links, or materials are not an endorsement of the Sender or any of its employees or business partners. For information directly from HUD/FHA, visit https://www.hud.gov/guidance For information directly from the VA, visit http://www.benefits.va.gov/HOMELOANS/ For information directly from the USDA, visit http://www.usda.gov/wps/portal/usda/usdahome?navid=GRANTS_LOANS