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Reverse Mortgage Purchase

Quick Facts

HECM (Home Equity Conversion Mortgage) Loan – also known as a Reverse Mortgage – can be an important financial option for seniors, their family members, and financial professionals to consider as part of an overall retirement planning strategy or to help meet cash flow needs.
Over the Past 50+ years the Reverse Mortgage has positively grown in popularity and has developed into an intelligent option to increase the financial independence for homeowners 62 years of age or older.

Benefits

  • No Monthly Mortgage Payment*
  • Allows you to stay and age in the comfort of your home and maintain the title
  • Turn your home's equity into cash that you can access
  • The available funds from your Reverse Mortgage line of credit that are not used, is guaranteed to grow annually
  • A Non-Recourse Loan since it’s Federally Insured by FHA (Federal Housing Administration)

Eligible Homes

  • Single Family Residence
  • Townhome
  • 2-4 Unit Owner Occupied
  • Manufactured Home that meets FHA requirements
  • Condominiums as condos with FHA approval are also eligible.

Learn More

Please answer a few quick questions to receive a personalized quote
Disclaimer: The borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the homeowner does not meet these loan obligations, then the loan will need to be repaid

What is a Reverse Mortgage Purchase?

HECM (Home Equity Conversion Mortgage) for Purchase, otherwise known as a Reverse Mortgage Purchase allows home buyers age 62 years or older to Purchase an existing home or a new home from a Builder their home with a one-time investment of their own funds (typically from the sale of their previous home, or other retirement funds.
Essentially, you’ve purchased your new home with a one-time investment (Down Payment). This smaller one-time investment allows you to save money and reinvest the difference between your upfront cost and the full price of the home back into your savings or retirement, *while still having the benefit of no mortgage payment.
A typical one-time investment (Down Payment) will range from 45% to 65% of the purchase price. The down payment is determined by the appraised value or purchase price (whichever is less), the current interest rates, and the age of the borrower.
If you have any questions, or if you would like more information, please contact us today!

Why get a Reverse Mortgage Purchase?

  • Downsizing - Less cash out of pocket - the savings can be invested back into your savings or retirement.
  • Upsizing - Purchase a higher priced home with a limited investment
  • To purchase a home that will better suite your needs for comfort or physical needs, such as a one-level home with ramps, handrails, and wider doorways.
  • Financial peace of mind - there are no mortgage payments
  • Build your dream retirement home
  • Relocating into a home with less maintenance
  • Relocating to a warmer climate
  • Relocating closer to family and loved ones
Interested in a REVERSE MORTGAGE REFINANCE? Learn more HERE

We're here to answer all of your Reverse Mortgage Questions

Sean Diaz is available to answer your questions at (949) 679 8238 or by email at sean.diaz@wmreverse.com.com

How Much do I Qualify For?

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©2023 Watermark Capital, Inc. | Equal Housing Opportunity Lender | NMLS ID # 1838 (www.nmlsconsumeraccess.org) | 100 Spectrum Center Dr Ste 520 Irvine, CA 92618 | (800) 896-9374 | Licensed by the Department of Financial Protection and Innovation under the California Finance Lenders Law | AZ Mortgage Banker License #0925124 | Georgia Mortgage Lender Licensee #22604 | Illinois Residential Mortgage Licensee | Kansas Mortgage Company Licensee | Mississippi Mortgage Lender Licensee | Licensed by the New Hampshire Banking Department | New Jersey Residential Mortgage Lender Licensee | Massachusetts Mortgage Lender License #ML 1838 | For licensing information go to: www.nmlsconsumeraccess.org All applications are subject to credit, underwriting and property approval. Program terms and conditions are subject to change without notice. Some products may not be available in all states. Other restrictions may apply. This is not a commitment to lend. Any materials were not provided by HUD or FHA. It has not been approved by FHA or any Government Agency. The reverse mortgage borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, hazard insurance. The borrower must maintain the home. If the borrower does not meet these loan obligations, then the loan will need to be repaid. Watermark Capital, Inc. is not a tax consultation firm. Please seek advice from a tax professional. Homesafe Loans: For certain HomeSafe® products only, excluding Texas and Utah. The HomeSafe reverse mortgage is a proprietary product 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.
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