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Use a Reverse Mortgage to Purchase a Home

Get into you new home with a limited investment and NO MONTHLY MORTGAGE PAYMENTS when you purchase using a reverse mortgage.

Case Studies

Please take a look at some common situations illustrated below

reverse mortgage purchase exampleMr.and Mrs.Parker had a sold there large family home of 45 years and received $500,000 to put towards a new smaller home they wanted for retirement.

They were able purchase a new home priced at $319,900 and use the reverse for purchase program with an out of pocket investment of $131,159 and have no monthly mortgage payments.

They also retained $368,841 of their $500,000 for other retirement needs.

reverse mortgage exampleMrs. Colby purchased a new home for $279,900 using the reverse mortgage for purchase program.

By using some of her existing liquid assets, she invested $114,759 and has no monthly mortgage payments.

Once she moved into her new home Mrs. Colby put her old house up for sale and enjoyed a stress free move and sale of her previous home.

reverse mortgage purchaseMr. Ferguson had sold his home in Oregon to move to Washington and get closer to his Daughter and grandson. His initial plan was to use the $178,000 from the sale of home and pay all cash for his new home in Washington. Mr. Ferguson was able to use the reverse for purchase program to buy a new home for $289,900 with an out of pocket investment of $118,859 and have no monthly mortgage payments.

Mr. Ferguson was also able to use some of his $59,141 left over to apply towards upgrades he really wanted in his new home.