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

(67)

Initially we were a bit hesitant and unsure Initially, my husband and I were a bit hesitant and unsure of seeking a reverse mortgage. Luckily, we were referred to Larry McAnarney by our finacial advisor and he explained in detail the whole concept.  Larry was very professional and answered all our questions during the process.  We would not hesitate to refer anyone to use Larry as their reverse mortgage consultant.

Dick & Dawn D — Jun 23, 2016

Fantastic at What He Does I think that Larry McAnarney is fantastic at what he does and wonderful person in and out. I don’t know what I would have done without his help. I would recommend him to anyone looking for reverse mortgage  information.      

Dolores P — Mar 13, 2017

Many Thanks! We were hesitant about a reverse mortgage but our financial planner referred Larry McAnarney to us. So glad he did! Larry is very personable and professional. He explained everything to us and made sure we completely understood it all. Anyone would surely benefit by having Larry to consult with on a reverse mortgage. Larry, many thanks for all your help and peace of mind! Many Thanks!

Lee & Jeanette P — Aug 17, 2017

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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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