Reverse For Purchase
Home Equity Conversion Mortgage Purchase Program
Thank you for investing the time to learn about the Home Equity Conversion Mortgage Purchase Program. This is an FHA program that allow people age 62 and over to use an FHA insured reverse mortgage to buy a new or existing primary residence.
This program works just like any other mortgage used to buy a home except that with a reverse mortgage the buyers do not have to obligate themselves to a monthly mortgage payment. The home will be in the buyers name so they will have to pay all property taxes, homeowner’s insurance and maintenance on the home, but with no mortgage payments, qualification is much easier.
Please take the time to check out the links on the left that apply to you (are you a buyer or a real estate agent?), and then please contact me with any questions.
Thanks again for visiting