Sample Reverse Mortgage

Can you imagine how great it would be to own your own home without having to worry about making monthly payments?

Example:

John and Sally Smith, who are 75 years old,  want to sell their home and buy one that’s located closer to their son, in another town.

They can purchase a new home using the HECM for Purchase!

If they decide to:

Downsize (at 7.23% APR)      or                    Upsize (at 7.20% APR)

Cash After Sale                            $300,000                                                          $300,000

Cost of New Home                     $400,000                                                           $600,000

HECM Proceeds                          $262,000                                                           $398,000

Cash needed to close                            $138,000                                                $202,000

Cash Remaining after purchase           $162,000                                                 $98,000

Now happy in their new home, John and Sally have NO HOUSE PAYMENTs and had a significant amount of cash leftover for future expenditures. The HECM for Purchase program provides seniors with great home buying opportunities and options. Manny LaFosse is a certified reverse mortgage consultant who can help you with your San Gabriel Valley-area home.

Call Manny today, and he will explain this exciting program to you! (626) 233-5088 or email him at Manny4Reverse@msn.com.

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