January 19, 2023

Buying a Home with a Reverse Mortgage

You’re a senior, and you’ve discovered that your current home is no longer meeting your needs. You’d love to move to make life easier, but with home prices reaching historic highs, you simply can’t afford it. Fortunately, there is a way to double your purchasing power and move into a newer home. A reverse mortgage, a home equity conversion mortgage for purchase known as an h4p, is a type of reverse mortgage that allows seniors aged 62 or older to buy a new home using the loan proceeds from a reverse mortgage.

By leveraging this additional cash flow, you’ll be able to afford living in a newer home with updated amenities and located in the neighborhood you want. You’ll also be able to accomplish this without paying those mandatory principal and interest payments each month. Why continue to live in a home that no longer meets your needs and lifestyles? Tap the equity in your current home and be able to move into a new home where you’ll be able to live securely and comfortably for years to come. To find out how a reverse mortgage can help you purchase a new home, call us today!

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