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