Realtor Reverse Mortgage 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

(111)

Thanks Again Larry treated me very well and helped me go thru the indepth process!!! Thanks again

W Hammond — Sep 7, 2015

Very Attentive to our Needs I want to thank Larry for all his help during our reverse mortgage process. We were a little apprehensive, but Larry was there to answer all our questions and out our cares to rest. Larry was very attentive to our needs and answered all our calls in a timely manner. Again, we thank Larry for all his help and knowledgeable input.

Steve & Linda S — Feb 13, 2018

Navigating Reverse Mortgages Made Easy Navigating the world of reverse mortgages was made easier with the help of Larry McAnarney. Larry answered his phone and returned all phone calls when he was unable to answer the phone. I contacted Larry to enlist his help with my sister and her husband to obtain a Reverse Mortgage. He met with them at their home, patiently answering all their questions as they sought to understand a reverse mortgage and helped them to understand all the necessary documents needed to secure the loan. My brother-in-law is unable to move about without a great deal of assistance and Larry arranged to close the loan at their home. I would recommend Larry to anyone who found themselves in need of a reverse mortgage.

Margaret C — Dec 13, 2019