Proudly Serving KS, MO, & FL
Jane is getting ready to list her home. She owns it free and clear and plans to sell it to purchase another home and pay off some debt. After figuring out the sale of her current home and commissions, Jane looks at purchasing a home for $35K less than the value of the home she's living in today. So think about this from Jane’s point of view, we are selling her home to accomplish her financial goals, but this is a depressing scenario. Jane’s worked her whole life and this is the best we have to offer. In this video I explain how the HECM4Purchase worked for Jane.
The HECM for Purchase is it the sleeping giant of the senior real estate industry, you decide. What if there was a mortgage product that was competitively priced, by far the easiest mortgage in the entire industry to qualify for and opened up options to your senior clients to purchase homes they otherwise thought may have always been out of reach yet still permits those clients to make no monthly principal and interest payments for as long as they reside in that home.
Can the HECM for Purchase be a viable option in an overall retirement plan for your clients? Here I walk through an example showing how the H4P can help your clients meet their financial goals while maintaining or even increase liquidity in other accounts.
For people 62 and older that own their home or have a low mortgage balance, a home equity conversion mortgage (also called a HECM) allows them to take equity back out of their home. They can receive this in the form of a lump sum, monthly payments or a line of credit. One other increasingly popular way to use a HECM is a HECM for purchase. This allows seniors to purchase a home of higher value and never make mortgage payments again.
We love our customers, so feel free to schedule an in person meeting to learn more by calling our office, 316-262-7766 or schedule a phone call here: calendly.com/mikegon
2290 N. Tyler Road, Ste. 200, Wichita, KS 67205
09:00 am – 05:00 pm
MTG Family Mortgage is a DBA of Open Mortgage, LLC (NMLS #2975, nmlsconsumeraccess.org) is a Kansas, Missouri & Florida Licensed Mortgage Company. Lic # MC0001373-BR033. Michael Gonzales NMLS #221988 KS LO.0001288, MO 14772-MLO, FL LO88825, (Branch NMLS #327320). 2290 N. Tyler Rd., Suite 200, Wichita, KS 67205. Equal Housing Opportunity Lender.
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