HECM for Purchase: ... This is about using a Reverse Mortgage to Purchase a home
We offer very competitive Reverse Mortgages for the "purchase of a home" with fast turn times.
HECM for Purchase
This Loan Program Features:
A little less worry or concerns for Credit Scores the a normal mortgage and that is part because you are putting about 50% down.
Almost no concern for income requirement since there is no payment on the loan. Just show us you can afford the property taxes, Homeowner's insurance and repairs on home.
There is an age requirement that all "borrowers" must be at least 62 years old.
There is no requirement to pay mortgage payments or payoff the loan as long as you maintain the property as your primary residence.
You may choose to remain living in the home for the rest of your life which can be a real good solution during retirement.
This Site is Not Tax or Legal Advice. Always consult Legal Counsel and Your Tax Advisor. Content of website are the sole opinions of Robert Fulton & does not necessarily reflect those of Fulton Financial Consultants, Inc.'s Investor/Lenders or insurance companies or other product vendors. Because one of my product lines is that of Reverse Mortgages I must state the following: If the borrower does not meet loan obligations such as taxes and insurance, then the reverse mortgage will have to be repaid." The Terms, benefits and features shared as accurately as possible on best efforts basis and subject to change without notice. Therefore please discuss any decision making specifics with Robert Fulton 360-222-3236. "This material is not from HUD or FHA and has not been approved by HUD or any government agency."