HECM for Purchase in Phoneix, AZ - How Does it Work?
You’ve likely heard of the reverse mortgage to stay in your home and use your home’s equity, but buying a home with a reverse mortgage? How does it work?
The HECM for purchase in Phoenix, AZ is a useful program for seniors over 62 looking to downsize, move closer to family, or buy a home that requires less maintenance.
Like the typical reverse mortgage, the HECM for purchase in Phoenix, AZ is a mortgage that doesn’t require monthly mortgage payments. Only this time, you’re buying a home versus staying in your existing home.
Your only financial obligations are the down payment, property taxes, homeowner’s insurance, and regular home maintenance. You don’t have to make any payments and the loan doesn’t become due and payable until you move permanently or pass away.
Like the standard reverse mortgage, you must meet basic guidelines to be eligible for the HECM for purchase.
If you’re thinking about moving during retirement, a HECM for purchase in Phoenix, AZ may be a great way to achieve your goals. You’ll keep your retirement funds liquid and available for necessary spending while owning the home you want.
If you’d like to learn more about the HECM for purchase, grab a copy of my free book by visiting www.reversemortgagelive.com. This is a limited time offer so act fast!
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