While most everyone has heard of a reverse mortgage but most never realized that you can purchase a home with a reverse mortgage.

Instead of paying all cash or taking out a traditional mortgage and making mortgage payments throughout retirement a much better option may be to finance part of the purchase utilizing a reverse mortgage so there are no mortgage payments. Mortgage payments are optional!

This would allow you to:

  • Spend less money out of pocket. Have more money invested earning a rate of return in retirement funds

  • Purchase a larger home. A HECM for Purchase reverse mortgage could help you to more comfortably afford upgrades or a larger home.

  • “Right Size” your home, maybe your needs have changed, and you want to be in a more suitable neighborhood or move closer to the grandkids.

A HECM for Purchase offers an extraordinary opportunity to keep more of your money from earning no rate of return inside the wall of your home and leaving it invested in your retirement accounts earning more for you in later years. This could add 10’s of thousands or 100’s of thousands throughout your retirement.

The chart below illustrates your approximate down payment based on your age for a HECM for Purchase.

reverse for purchase

Just $150,0000 kept out of your home and in your retirement, account can mean an extra $475,825 of retirement asset growth over 15 years.
Please contact us at NEXA Mortgage for your own personalized proposal and see if a HECM for Purchase may be the right option for you.

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