Reverse Mortgage Financing on a Purchase in Riverside

The use of a reverse mortgage here in Riverside California to purchase a retirement home is becoming more and more common. More and more, Realtors are calling and asking me to work up quotes for their clients using the reverse mortgage to finance the purchase. They are finding that normally "all cash" buyers over 62 years old can get a lot more home for the money and still have the benefits of no monthly mortgage payment.

Its fun to work with my Realtor clients as they assist their home buyers in achieving the dream of the perfect retirement home!

Just getting started on a new deal with a fantastic family, helping mom to purchase a gorgeous newer home worth over $500K, putting less than $200K down and still, no mortgage payments. (Of course the property will be owner occupied, taxes, insurance and maintenance kept up to date) The family is thrilled that their senior will be in a newer home, in good repair and close by the family.