Mortgage Blog

HECM for Purchase - Buy a Home and get a Reverse Mortgage in one transaction

Achieve diversification, increased liquidity, and financial peace of mind by using a HECM for Purchase to buy a new primary residence. Instead of solely focusing on downsizing as we age why don’t we expand on this thought and make it a financial strategic transaction as well. Many people, as they retire, think that buying a home with all cash is the safest and possibly only answer. This may limit your ability to buy the home that is the best fit for you. It may be a better option to utilize a HECM for Purchase so you don’t have a large percentage of your cash tied...

August 11th, 2014 | HECM Reverse Mortgage, HECM for Purchase, HECM to Purchase, Retirement Planning, Reverse Mortgage, Reverse to Purchase Mortgage, Retirement income insecurity, HECM for Purchase - Buy a Home and get a Reverse Mortgage in one transaction

HECM for Purchase

Statistics show a large number of home buyers paying cash for homes.  Is this the best strategy for retirees and older active adults?  Many people, regardless of their age, have been having difficulty obtaining a mortgage.  Once a mortgage has been granted, there is a monthly mandatory payment requirement.  This creates risk.In October 2008, FHA introduced a new innovative type of loan called HECM for Purchase. Very few people are familiar with this loan.  This is a government insured non-recourse, non-qualifying loan for home buyers 62+ that allows them to buy a ...

March 21st, 2014 | FHA, Government insured mortgage, Reverse Mortgage, Retirement Planning, Reverse to Purchase Mortgage, HECM Reverse Mortgage, HECM to Purchase, HECM for Purchase, HECM for Purchase

Subscribe to Our Newsletter

Fields marked * are required
Email *
 

 

Facebook

 

Jefferson Mortgage Group LLC

2536 Leeds Rd.
Oakton, Virginia 22124
703-319-2198
FAX: 703-773-6946
info@jeffersonmortgage.com
NMLS: 935554

Located in Fairfax County, Virginia. Serving all of Virginia, Maryland, DC & Pennsylvania. 

Testimonials

Jefferson Mortgage Group LLC is licensed in Virginia, Maryland, DC & Pennslvania.
Virginia State Corporation Commission License Number MC-5659 and the Pennsylvania Department of Banking & Securities #46259 
The DC Department of Insurance, Securities, and Banking License #MLB935554
Maryland DLLR License #21586

An Equal Housing Lender

By refinancing the consumer's existing loan, the consumer's total finance charges may be higher over the life of the loan.

This material is not from HUD or FHA and has not been approved by HUD or any government agency.