Are you 62 or over and want to buy a new home? Maybe you want to downsize, or go from a two story to a one story or just move closer to your grandchildren. Let’s say you’ve found the perfect place for $300,000. You can buy that house with a Reverse Mortgage Purchase loan. You pay about 50% of the purchase price and use a reverse mortgage for the rest. You will never have to make another monthly mortgage payment. You’re only responsible for the property taxes and homeowners insurance and maintaining the property. There are minimal income and credit requirements. You continue to hold title to the home and are not required to pay off the mortgage until you move, sell the property, die, or fail to comply with the loan terms. It’s a “non recourse” loan which means you or your heirs can never owe more on the house than it’s worth. Speak with one of United Mortgage Fund’s Reverse Mortgage specialists for more on this exciting loan.
Reverse Mortgage Purchase Loan
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800 Haven Ave, Ste 370
Ontario, CA 91764