Jack’s Zero Monthly Mortgage Payment* Home Purchase (H4P)
Let’s talk about Jack.
He’s 68 years old. He and his wife Rita are looking to sell the two-story home where they raised three kids. They have been longing to move into a mid-century modern nearer to downtown.
But with housing purchase costs rising and retirement savings concerns, Jack and Rita wondered if a new home purchase made financial sense. Fortunately, like many baby boomers age 62+, they’ve have built a lot of equity in their current home.
Jack’s cousin is a real estate agent. Cousin Craig recommended Jack and Rita tap into their equity to purchase their next home using a Home Equity Conversion Mortgage (HECM: aka Reverse Mortgage) for Purchase (H4P).
According to financial experts, seniors in our country have accumulated between $6-8 trillion in equity (Reasons why Baby Boomers are a Market to Watch, David Loman). In many cases, the equity is just sitting idle when it could be put to good use.
That’s why financially savvy seniors nationwide are enjoying the benefits of H4P to provide:
- Greater Purchasing Power
- Zero Mortgage Payment Joy*
- Funds for home improvements, medical bills and other expenses
- And, quite possibly, a tax-free growing line of credit
Jack is excited to be moving into a home that better meets his and Rita’s needs. And, he and Rita are especially thrilled to be done with mortgage payments. *
To find out more about the benefits of H4P for you or your loved ones, contact us today at (877) 217-0166.
Real estate professionals, to be a source of information for your senior clients download our realtor toolkit today.
* No more monthly mortgage payments. Borrowers must maintain the property and remain current on property taxes, homeowner’s insurance and applicable HOA dues. Scenarios described represent case studies, relate opportunities and protect client identity therefore specific likenesses and names are fictional.