Learn how our Home Equity Conversion Mortgage (HECM) for Purchase program can help you tap into the vital 62+ market, to create more foot traffic and sell more homes.
Baby Boomers Turn 65
of the U.S population will be 65 or older
of all home buyers are age 60 and above
in home equity held by homeowners age 62+
HECM (Home Equity Conversion Mortgage) for Purchase
Realtors & Builders – Learn how the H4P (HECM For Purchase) can capture new customers and expand your business.
There is a great opportunity in the 62+ market
Sell More Homes
Increase purchasing power – Makes purchasing a higher-priced home with upgrades or amenities easier to afford.
Capture new customers – Baby boomers age 62+ don’t want a monthly mortgage payment, but aren’t hesitant to use the majority of their assets to purchase a new home.
Set yourself apart – Be the professional in your market who’s familiar with the program
Sell homes faster – Customers must often wait to get the highest price for their departure home; H4P (HECM for Purchase gives them more financial freedom to buy their house faster)
Attention Builders: As of September 19th, 2017, FHA no longer requires that the Certificate of Occupancy be issued before a H4P (HECM for Purchase) application. This rule was cumbersome and made no sense as it was a big hindrance for Builders and Realtors.
Benefits of H4P (HECM for Purchase) - Starting the conversation with a customer.
Non-recourse, FHA-insured loan. Borrowers and heirs are not responsible for any amount of the loan balance that exceeds the value of the home.
Alternative to a traditional mortgage or paying all cash, exclusively for people age 62 or older.
One-time upfront investment of about 45% to 65%of the purchase price, depending on borrowers age; H4P finances the rest.
Reverse Mortgage Jumbo loans are also available up to $4 Million - Learn More Here
We're here to answer all of your Reverse Mortgage Questions
Homesafe Loans: For certain HomeSafe® products only, excluding Texas and Utah. The HomeSafe reverse mortgage is a proprietary product of Finance of America Reverse LLC and is not affiliated with the Home Equity Conversion Mortgage (HECM) program. Not all HomeSafe products are available in every state. Please contact us for a complete list of availability.
Commercial Loans: Product not directly offered by Finance of America Mortgage LLC. See your advisor for details. Broker featured in this advertisement is not employed by Finance of America Commercial LLC and their affiliation with Finance of America Commercial LLC is limited exclusively to the commercial loan products they can offer through their broker relationship with Finance of America Commercial LLC.
Product offered through Finance of America Commercial LLC | Equal Housing Opportunity | NMLS ID# 1133465 | Product not offered in all states. | Loans are subject to investor and business credit approval, appraisal and geographic location of the property and other underwriting criteria. Loan amounts and rates vary depending upon loan type, LTV, verification of application information and other risk-based factors. Application fees, closing costs and other fees may apply. Borrowers are approved for a maximum exposure limit, based on their experience, liquid assets, net worth, and credit score. Each loan is subject to property approval under Finance of America Commercial terms and conditions. Each property has an individual secured loan. Loans made or arranged pursuant to a California Finance Lenders Law license.