Reverse Mortgages For Realtors
HECM for Purchase financing can make it easier and more affordable for your clients age 62 and older to buy a home that better fits their life, without having to take on monthly mortgage payments
Buyers can purchase a home by combining a one-time cash investment of their own funds, either from the sale of a previous residence or from other investments with loan proceeds from a HECM reverse mortgage – all within a single transaction.
With the baby boomer population it is estimated that for the next 15 years, over 10,000 people a day in America will turn 62 years of age. Realtors leveraging this unique mortgage tool with the baby boomer population may not only improve their market reach and sell more homes but help senior clients:
- Purchase homes they might not normally think they could afford,
- Right-size to a smaller, lower maintenance home
- Buy a home closer to family or friends
- Lower their cost of living during retirement
- Enjoy carefree living in a senior housing community
As with any home-secured loan, in order for the loan to remain in good standing they must maintain the property, and keep current with property-related taxes and insurance payments.
* The amounts displayed are for illustrative purposes only and are approximations. Actual down payment amounts may vary based on interest rate and other factors. Please contact us for details about credit costs and terms
Just some of our happy clients
"I am very grateful to have been able to work with you and your associates in obtaining a reverse mortgage. My financial planner said that I was the perfect candidate and recommended using you to expedite everything. It went very smoothly and my income stream provided a preservation of my portfolio which has eased my mind. Thank you so much."
"Thank you for taking care of this for my mom, this is just what she needed to give her some financial breathing room."
"We selected On Q Financial Services after a recommendation from our financial advisor. We received a thorough education in not only the process but the important nuances that should be considered before making a final decision. On Q respected our need for detailed communication and also provided an understanding and insight into the process. We look forwards to recommending On Q Financial Services to our professional and personal associates, not only for your firm’s expertise but more importantly, the terrific personnel with whom we dealt along the way."
"A few years ago I was living in a house that did not suit my needs. With the assistance of Samantha Alspaugh, I signed up for my first Reverse Mortgage line of credit. Using this relatively low interest loan for construction funds enabled me to build a new house appropriate for my stage in life.
When my new house was completed, I sold the prior house and paid off my first Reverse Mortgage. I moved into my new home and then contacted Samantha for my second Reverse Mortgage Line of credit. My new home has some title and ongoing quirks. In spite of these issues a determined Samantha stuck with it and ultimately arranged my second Reverse Mortgage Line of Credit.
I first used this loan as a bridge loan, then I paid it almost off (not quite zero to keep the loan open). Now thanks to the financial flexibility offered by a Reverse Mortgage Line of Credit, I live in my dream home debt free and watch the line of credit funds available to me increase on a regular basis. Most importantly, I have peace of mind knowing that I have emergency funds available to me anytime just a phone call away.
Life is good"
Reverse Mortgage News
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