Why Seniors Choose the HECM for Purchase

January 31, 2019

Lifestyle, ease of upkeep, and proximity to family are main criteria for seniors who choose a Home Equity Conversion Mortgage for Purchase loan, many originators agreed.

Christina Harmes, assistant manager for C2 Reverse in San Diego, said she has clients looking to upsize, downsize, move to the city or relocate to the country, but most of them have one shared prerequisite.

“I was looking for the common thread and it seems to be family,” she said, giving examples of borrowers looking to be closer to grandkids — or even searching for homes where their aging parents can live with them. Continue reading…

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