Boost Your Buyers’ Purchasing Power with HECM for Purchase loans

Did you know homeowners 62 and up have over $7 trillion1 tied up in home equity? By incorporating HECM for Purchase loans into your business, you can open a new, growing market segment giving you the ability to close more deals on higher-value properties. The HECM for Purchase gives your buyers greater financial flexibility and control over the communities and homes of their dreams.


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How It Works

How a HECM for Purchase works is simple. Buyers, who must be 62 or older to participate, put down a portion (e.g. 60%) of the new home’s price, and the mortgage lender puts down the rest to complete the purchase. The lender’s portion, however, does not have to be repaid until the borrower leaves the home or does not otherwise comply with the loan terms. With no monthly mortgage payments to make, buyers may choose to use their added buying power to purchase a larger model or additional builder upgrades. Borrowers must continue to maintain the property, pay taxes and homeowners insurance, and otherwise comply with all loan terms.

HECM example

The Impact on Your Business

  • Enhance your company’s value proposition by offering more financial solutions.
  • Boost your buyers’ purchasing power.
  • Increase revenues and profits from more home sales.

What This Means for Your Buyers

  • Increase their purchasing power to get the home they want.
  • Buy a home right-sized with more of the age-appropriate amenities they prefer.
  • Enjoy no monthly mortgage payments (borrower must continue to pay property taxes, homeowners insurance, and maintain the home).

More AAG Options: VA, FHA, traditional, refinance, jumbo, jumbo reverse, reverse for purchase and jumbo reverse for purchase loans.

¹"Senior Housing Wealth Reaches Record $7.23 Trillion" - National Reverse Mortgage Lenders Association. April 3, 2020. https://www.nrmlaonline.org/about/press-releases/senior-housing-wealth-reaches-record-7-23-trillion

According to NAR, 1 in 5 home buyers today is over the age of 62. What if 20% of your buyers had 40% more purchasing power? By incorporating Home Equity Conversion Mortgage (HECM) for Purchase loans (exclusive to homeowners 62+) into your business, you can open a new, growing market segment, giving you the ability to close more deals on higher-value properties. See below to learn more.

HECM for Purchase Booklet for Builders

Learn how a HECM for Purchase loan can increase closings in your communities.

Read

Help Build Sales in Your Communities

Give your senior clients more options! This flyer includes an example of how your buyers can use a HECM for Purchase loans to purchase your properties, allowing you to move more inventory.

Read

Funding Senior Care with Home Equity Solutions

Paying for in-home care at any age can be challenging, but for seniors the burden can be especially difficult. Together, we can serve more seniors – better! During this webinar, we’ll discuss how you can:

  • Help your clients fund the care they need
  • Grow your business
  • Retain caregivers and clients
  • Increase the longevity of care
  • Decrease hospital re-admittances
Register Now

Meet the Speaker

Kelly Rogers

Kelly Rogers

Certified Gerontologist

Kelly Rogers is a Certified Gerontologist with more than 28 years of experience working with seniors and their families. Her background in both senior care and financing makes her the perfect fit for the nation’s No. 1 Reverse Mortgage Lender, American Advisors Group. Kelly’s drive in life is truly helping seniors and their families understand how they can afford the proper services and care they deserve to Retire Better!

  • Certified Gerontologist (2008)
  • Certified Memory Impairment Specialist (CMIS) (2002)
  • Licensed Mortgage Officer – NMLS ID: 1065452
  • HCAOA Member
  • Alzheimer’s Aid Society of Northern CA – Member & Co-Author

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Senior Housing Wealth Hits Record High of $7.54 Trillion

Homeowners aged 62 and older saw their collective housing wealth increase in Q1 2020 by 1.6% compared to the previous quarter. This constitutes an increase of approximately $120 billion to a record of $7.54 trillion. Read more…

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55+ Housing Market Still Going Strong

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American Advisors Group, NMLS #9392, headquartered at 18200 Von Karman Ave., Suite 300, Irvine, CA 92612.

News & Updates

Senior Housing Wealth Hits Record High of $7.54 Trillion

Homeowners aged 62 and older saw their collective housing wealth increase in Q1 2020 by 1.6% compared to the previous quarter. This constitutes an increase of approximately $120 billion to a record of $7.54 trillion. Read more…

Read More

7 Client Behaviors Emerging From COVID-19

As the effects of the pandemic continue, nine in 10 REALTORS® say their housing markets are in recovery mode, with many even saying their markets are hotter now than a year ago, recent member surveys from the National Association of REALTORS® show. “The delayed spring market is definitely occurring now in the summer months,” says […]

Read More

Increase Your Buyers’ Purchasing Power

Are you a builder or real estate professional with senior clients eager to move out of their current homes and into new ones — if only they could do it in such a way that they didn’t have to exhaust all or most of their home sale profits or retirement savings? If you have clients […]

Read More