Realtor H4P Program

Learn more about this unique home financing solution and how it can impact your business. 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.

How does it work?

With H4P, you can purchase a home by combining a one-time investment of your own funds (down payment) with loan proceeds from a Home Equity Conversion Mortgage (HECM) to complete the transaction. As with a traditional “forward”mortgage, the home you are purchasing secures the loan.

Our Home Equity Conversion Mortgage (HECM) for Purchase (H4P) 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.
  • More shoppers can become buyers.
  • Buyers get additional spending power, enabling them to better afford upgrades or a more expensive home.

Buyers can purchase a home by combining a one-time investment of their own funds (a down payment of about 45% to 65%, 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, there are no monthly mortgage payments 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, in order for the loan to remain in good standing they must maintain the property, and keep current with property-related taxes and insurance payments.

For example:

Age

Purchase Price

$150,000

$250,000

$350,000

$500,000

 

Cash required*

Cash required*

Cash required*

Cash required*

62

$97,425

$156,425

$206,525

$291,920

67

$92,175

$147,675

$194,625

$274,925

71

$89,175

$142,675

$187,975

$260,925

75

$85,125

$136,175

$178,875

$247,920

 *The amounts displayed above are for illustrative purposes only. Actual down payment amounts may vary based on interest rate and other factors. Please contact me for details.

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

Verified Reviews

(55)

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

Reverse Mortgage through Larry McAnanery Larry made the whole process so easy and easy to understand. He answered all of our questions and let us know everything that was going on. He was even at our closing I would DEFINITELY recommend him to friends and family

Susan K — Aug 12, 2014

Nervous in the Beginning Larry was very knowledgeable about the processing of the reverse mortgage. He answered all my questions in a way that I could understand each step of the process. I was nervous in the beginning but with Larry helping me step by step in understanding the process, I became very much at ease. I would be more than happy to recommend others who would want to do a reverse mortgage. Again, thank you Larry.  

Dorthie A — Feb 6, 2017

Read More Reviews
memberships

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.

© 2017 Reverse Mortgage Funding LLC, 1455 Broad St., 2nd Floor, Bloomfield, NJ 07003, 1-888-494-0882. Legal approval #L976-Exp042018, Company NMLS ID # 1019941. NMLS Consumer Access: www.nmlsconsumeraccess.org/?EntityDetails.aspx/?COMPANY/1019941
Please click here for full Reverse Mortgage Funding state licensing.     Where we lend     Terms of Use     Privacy

Illinois Residential Mortgage Licensee; Arizona Mortgage Banker License #0935256: Georgia Residential Mortgage Licensee No. 36793; Originator License No. 40299; Kansas Originator License LO.0001032; Licensed by the New Jersey Department of Banking and Insurance; Texas Mortgage Banker Registration in-state branch office 6044 Gateway East, Suite 236, El Paso, TX 79905(branch NMLS 1244676) RMF is not licensed or registered to engage in mortgage loan origination activities in Hawaii or New York.