You Can – Have Your Cake and Eat It Too !!
Purchasing a Home in an
Over 55 – Active Adult Community
Using a Reverse Mortgage
Most people are used to purchasing a home by putting down a certain amount of funds, and carrying anywhere from a small to a rather large mortgage. This mortgage is most often a 30 year fixed rate in which you pay principle and interest every month for the term of the loan. Some people buy a home on a full cash deal, and simply deplete a good portion of their funds !!!
What if you could put down only 50% (or less depending on your age) of the price of your home, take a REVERSE MORTGAGE for the balance of the purchase price, put the rest of your money in a bank, and…
Never make a mortgage payment, ever, for the rest of your life !!!
It almost sounds too good to be true……..but the Federal Government through HUD started this program a number of years ago…….and it is still one of the best kept financial secrets in the U.S.A. !!!
Purchase your beautiful home (this is Having Your ‘Cake” )…..and never have to make a mortgage payment on it for the rest of your life (this is “Eating it Too” ) !!!
Here are some NO’s and YES’s about Reverse Mortgages that all
WORK TO YOUR BENEFIT…
You must be at least 62 years of age……and:
- NO Income check
- NO Asset check
- NO Credit check (except to make sure there are no federal liens)
- NO Credit score Minimum
- NO longer have to pay any monthly Mortgage payment for the rest of your life, as long as you remain in your home, keep it presentable, and pay your home taxes, maintenance and insurance.
- Yes !! You own your home
- Yes !! Your heirs will be the beneficiaries when both spouses pass away
- Yes !! All the money you save on the purchase, can be put in the bank or wherever you choose.
- Yes !! You can get a reverse mortgage on your current primary residence, and use the funds for whatever you like…..even if it is to buy your 2nd home in an over 55 Active Adult Community !!!
For Further Reverse Mortgage Information and Qualification, Contact:
Sam Weber – Senior Loan Officer
561-434-6009 or cell 516-607-0544
Priority Lending Corp
Where Service is Our Top Priority
Want to check out some Active Adult Communities???
For Further Over 55 Information Contact:
The Harelik Team