Over 62? Purchase A Home With A Reverse Mortgage | HECM for purchase
Did you know that you can purchase a home with a reverse mortgage? Imagine buying a home with no mortgage! In this video, I explain how it is possible to use the equity of a home to make your monthly mortgage payments. Whether you are buying a home for the first time or have decided to change your lifestyle, a Reverse mortgage explained properly, just might be the answer you are looking for. For home buyers over 62 years old a HECM for purchase is an option where the buyer with an ample down payment (the down payment percentage depends on the buyers age) would not have any monthly payments, though they would still be required to pay homeowners insurance, property taxes and basic upkeep on the home. People ask How do reverse mortgages work? Are reverse mortgages worth it? What is a HECM? A senior citizen mortgage can be drastically different than the myths regarding HECM loans. Learn the reverse mortgage basics and all about a reverse mortgage loan. This video will giv...