Realtor HECM for Purchase Program

Real Estate Professionals: A home financing option that can help you sell more homes

The Baby Boom generation represents an important opportunity for real estate professionals to serve a rapidly growing market of people who are motivated to sell their current homes and buy a different one for retirement — one that’s “right-sized,” and may be closer to friends and/or family.

Our Home Equity Conversion Mortgage (HECM) for Purchase home financing solution can make it easier for people age 62 and older to buy a home that better fits their retirement needs and wants.

  •  It can help you attract and capture a brand new — and rapidly growing — market of home buyers.
  •  Get a larger audience for your listings.
  •  More shoppers can become buyers.
  •  Buyers get additional spending power, enabling them to better afford upgrades or a more expensive home.
  •  Gain more leads from satisfied customers.

How it works: Buyers can purchase a home by combining a one-time investment of their own funds (a down payment of typically about 45% to 62%, depending on borrower age) with loan proceeds from a HECM. (This down payment range assumes closing costs will be financed into the loan.) As with a traditional “forward” mortgage, the home they purchase secures the loan. But unlike a traditional mortgage, monthly mortgage payments are optional while they own and live in the home as their primary residence — making buying a new home even more attractive.

As with any home-secured loan, the borrower must meet their loan obligations, keeping current with property taxes, insurance, maintenance, and any homeowners association fees.

To learn more about how this powerful financing option can be a key ingredient in helping more home shoppers become buyers, or to discuss a marketing strategy for this unique audience, please contact me.

Buying a home video? WATCH: How a Home Equity Conversion Mortgage for Purchase works

To learn more, contact me today to get your free H4P Buyer’s Guide.

Larry McAnarney
HECM for Purchase Specialist, NMLS #21059
Call 815-703-4745 | Lmcanarney@reversefunding.com

Branch NMLS # 1404799
700 Commerce Drive, Suite 5055
Oak Brook, IL 60523

L1467-Exp112018

Verified Reviews

(60)

Pleased with the service I want to let you know I am very pleased with the service I received from Larry McAnarney. He was very polite and answered fully any questions I had. I am really happy I got to do business with him.

Gerry E — Jun 21, 2016

Larry is the Best!! I was referred to Larry and could not be happier for the result. I had a unique circumstance, I was just out of bankruptcy and I had to save my house from foreclosure. I just got in under the time to qualify from the better limits under the old rules for a larger line of credit. Because my bankruptcy estate was not fully complete I had to get a court order from the bankruptcy judge to remove my house from my bankruptcy estate. With a time limit of 12/31/13 to close the financing, which I had to have to pay off the amount due to get out of foreclosure. Once I had the court order, Larry did a miracle in getting the paper work complete to close. I ended up closing the reverse mortgage on 12/31/13 at 12:30 pm, just 4.5 hours left in the year to close the deal! Larry saved my house and life. I can never express the amount of gratitude I have for his great service. THANK YOU LARRY!!!!!

Carl S — Jan 16, 2017

Quick Response I had questions about reverse mortgages and how they worked. Larry called and explained everything to us very well. He was quick responding back when I contacted him about some concerns I had while I was deciding to go ahead or not. I would recommend him to others, very polite and helpful. Was a pleasure working with him.

Gloria M — Apr 9, 2014

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This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.

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