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'Home Purchase' Category Archives

Using a Reverse Mortgage Purchase for New Construction

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CAN YOU HAVE A CONTRACTOR BUILD A BRAND NEW HOME FOR YOU AND FINANCE IT WITH A REVERSE MORTGAGE UPON COMPLETION ? THANK YOU -BOB Good Afternoon, The short answer to your question is, yes you can.  However, there are several things that you really need to keep in mind when you undertake such an action and...
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Purchase 2-4 Units with a Reverse Mortgage & Cash Flow for LIFE.

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For retirees considering a move in their later years either to downsize or to be near family or friends, there’s a government insured loan available that allows them to take out a reverse mortgage and purchase up to 4 units in a  single transaction. The Home Equity Conversion Mortgage (HECM) for Purchase allows borrowers who are 62 or older...
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How to use a Reverse Mortgage for Home Purchase

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How to use a Reverse Mortgage for Home Purchase Many borrowers and real estate professionals have never used a reverse mortgage to purchase a home or been involved in a transaction where one was used. This promotes a bit of uncertainty on the part of real estate professionals, sellers and some buyers when it seems that the whole process is...
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Reverse Mortgage Purchase | Down Payment Requirement

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Wondering what a reverse mortgage is, and whether it can be used in the purchase of a new home? It sure can, in a process called a Home Equity Conversion Mortgage Purchase. Basically, a new home is bought at the same time a reverse mortgage is taken, and the transaction is rolled into one. It’s an option for homeowners who...
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All Reverse Mortgage® to Buy in Del Webb Community (Client Story)

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An All Reverse Mortgage® Client Success Story in Del Webb Active Adult Retirement Community  Nancy D’Angelo first heard about using a reverse mortgage to buy a home through some friends with a problem: They were moving from the South to Orange County, Calif., where sky-high real estate prices meant they couldn’t cover the cost of a new home just...
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The Reverse Mortgage Purchase Guide for Real Estate Professionals

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Reverse Mortgage for Home Purchase A Guide for Real Estate Professionals By All Reverse Mortgage® At All Reverse Mortgage®, we're looking to partner with you in educating and helping mutual clients to purchase their retirement home. We have seen how knowledgeable real estate professionals have increased their market share and sales by simply identifying this buyer, you will find yourself with...
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Using a Reverse Mortgage to Purchase New Home

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A browser Phil Smith has sent the following question(s) in the ask experts blog. I wish to purchase a new home for approximately $800,000. What is the difference if I (A) pay cash for the property and then get a $250,000 reverse mortgage or (B) get a $250,000 reverse mortgage as part of the purchase process? I am 72 and my...
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The Ideal Reverse Mortgage Purchase Example.

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There is one financial tool available to borrowers age 62 and over that is not brand new but is often overlooked and that is the HECM for purchase or Reverse Mortgage Purchase Program. The HECM ("Heck-um") is HUD's acronym for the Home Equity Conversion Mortgage and it allows borrowers to not only refinance and eliminate loans on their existing homes...
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