Reverse Mortgage For Purchase

The Reverse Mortgage for Purchase allows seniors at least 62 years of age to purchase a home through a reverse mortgage. This can be a valuable option for seniors who need a new home that better meets their physical needs, or who wish to move closer to family members. Since this is a reverse mortgage product, monthly payments are not made on the new house.

Unlike the traditional reverse mortgage, HECM for purchase loans require a down payment, which you must pay with your own cash.  Typically the down payment required is based on the borrower’s age.  The older the borrower is, the lower the down payment requirement will be. HECM for purchases are subject to the same guidelines as a standard HECM loan.

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FEATURED PROPERTY

Property Type:

Residential

Price: $850.000

25152 Windwood Lake

Forest, CA 92630

Address: 25152 Windwood Lane

City: Lake Forest      State: CA

Zipcode: 92630

Beds: 4

Baths: 2

Sq ft: 2214

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NMLS# 286424

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Rainmaker Reverse

25152 Windwood Lane

Lake Forest, CA 92630