Double your commissions with HECM for Purchase loans

Did you know, homeowners 62 and up have $6.9 trillion¹ tied up in home equity? That’s wealth your clients could use to sell their current home and apply a portion of their sale proceeds to buy a more age-appropriate residence nearer family, friends and more of the activities and amenities they enjoy. A HECM provides the remainder of the funds to complete the new home purchase, potentially resulting in two transactions for you and a better retirement for your clients.

Help your clients, 62 and over, finance a home purchase with no monthly mortgage payments².

It’s possible with a Home Equity Conversion Mortgage (HECM), a solution more Real Estate Professionals and their clients are discovering every day.

The concept is simple. Your clients contribute a portion (e.g. 60%) of the new home purchase price using proceeds from the sale of their previous home or other financial resources, like savings and investments, and the HECM covers the rest. The HECM, however, doesn’t have to be repaid until the homeowner leaves the property¹. The borrower must of course continue to pay their property taxes, homeowner's insurance, and home maintenance costs.

If you help your clients both sell their current home and purchase a new one, that’s two commissions for you.

How HECM for Purchase loans can benefit your business:

• Sell more homes to your senior clients who are transitioning into retirement.
• Benefit from two potential transactions: a home sale and a purchase.
• Assist clients with obtaining financing they originally did not think they could obtain without existing employment.
• Provide more financial solutions for your older clients to help them live a better retirement.

Every day, more than 10,000 Americans turn 65³. Capture your share of this emerging wave by integrating HECM for Purchase loans into your business model. While you will be growing your business, you will be helping more of your senior clients enjoy these advantages:

• Remain close to family and friends while right-sizing their home for their unique lifestyle
• Access more inventory options, including high-value homes without monthly mortgage payments²
• Expand their home-purchasing power

^{1 Housing Wealth for Homeowners 62+ Reaches $6.9 Trillion in Q2 2018 - NRMLA. Sept. 2018. https://www.nrmlaonline.org/about/press-releases/housing-wealth-for-homeowners-62-reaches-6-9-trillion-in-q2-2018}

^{2Borrower must continue to pay property taxes, homeowner’s insurance, and home maintenance costs.}

^{3”Baby Boomers Retire”-Pew Research Center. 2010. Web.5 Dec.2015. http://www.pewresearch.org/fact-tank/2010/12/29/baby-boomers-retire/}