Nan and Deb were ready for that dream home in retirement; a place for entertaining friends and family, space for a large garden, a potting shed and not to mention a stylish chicken coop. Also important, one level living, accessibility to accommodate physical changes that aging brings.
Do you stay in your current home, or buy a new one that fulfills the dream ‘RETIREMENT ENVIRONMENT’ you have been working so hard for?
Kim Dodge, their loan officer, put together loan options that included a conventional purchase loan with a required monthly principal & interest payment, and a Reverse Purchase loan, with NO required monthly principal & interest payment! When their awesome realtors found this forever home, the choice was clear! They chose to finance their new home with a Reverse Purchase Loan, buying in the price range and location they wanted plus, no monthly principal and interest payments. Congratulations to Nan and Deb!
“We needed to sell a house and buy a house at the same time and we had the most remarkable team to help us with that, including our lender, Kim Dodge. And we would recommend her anytime.” Deb S.
A Reverse Mortgage Purchase Loan is for buyers age 62+ for FHA Reverse Mortgage (55+ with some lender options). And, it may help your money go farther, by giving you more buying power. Better yet, no monthly principal and interest payments are required as long as you live in the home as your primary residence and adhere to the terms of your loan. Borrowers must pay their taxes and insurance and maintain the home, and other requirements apply. The strategic use of a reverse mortgage in retirement helps with cashflow and may help your retirement assets last longer. Check out Reverse Purchase Options here
What to do next:
Give Kim a call. She can walk you through all the options to see if a Reverse Purchase Loan is the right way to get you, your clients or family members age 62+ (or 55+) into a new home without the burden of a monthly principal & interest payment.
“We have an awesome team and we appreciate each of you!! “ Nan M.
Take a page from Nanette and Deb’s playbook and connect with us. Call 503-595-1600.