Purchase a home with a reverse mortgage

 When you use a Reverse Mortgage for a purchase loan to buy a home, you can increase your home buying power while eliminating required monthly mortgage payments. * 

This is a unique program for those homeowners who want to move closer to their families, downsize to the right size or buy the dream home they’ve worked for years to afford.

Buyers must meet all loan obligations, living in the home as their primary residence and paying all property charges, including property taxes, hazard insurance, and keeping up with maintenance on the home. If borrowers fail to meet these requirements, then the loan must be re-paid.

 1. Contact a RM professional to discuss eligibility, down payment needed and required documents.  

2. Begin the home search and start the Reverse Mortgage application process with the help of an experienced Reverse Mortgage professional. 

3. Once the loan process is completed, you will be the owner of your new home with the option for no monthly payments. *

 • Provides more purchasing power.

• Allows to upsize or downsize the home based on needs.

• Purchase a new home to age in place, move closer to kids, grandkids, siblings or simply live your dream retirement.

• Option to eliminate monthly mortgage payments. *

• Preserve savings and improve cash flow.

• Protect your estate or heirs with a non-recourse loan 

*Buyers must meet all loan obligations, living in the home as their primary residence and paying all property charges, including property taxes, hazard insurance, and keeping up with maintenance on the home. If borrowers fail to meet these requirements, then the loan must be re-paid. This not tax advice. Consult a tax professional. This information is not directly from HUD or any government agency. NMLS #964665 - Alex John Palermo.