Working with a buyer (over age 62) that is looking to buy a home, but prefers not to plunk down entire proceeds of home sale for the new purchase. With the HECM purchase loan, my clients will buy a new home putting down less than 50% and keep most of their proceeds working for them - and no mortgage payment. Of course, this was discussed with their financial and estate planner who approved of the plan.
I am seeing more seniors being turned down for traditional financing because of high DTI, yet I can help them by consulting with them on a reverse mortgage.
Telling renters to stop paying someone else's mortgage! Come to our FREE first time home buyers seminar tomorrow: RSVP http://communitychallenge.eventbrite.com/
What would be the economic impact on a a community if 125 first time buyers made the commitment and wise choice to purchase a home? With the $8000 tax credit, that is One Million Dollars coming into an economy. Invite your friends, coworkers and associates to attend the Million Dollar Challenge - learn about the $8000 tax credit, receive a FTHB handbook. RSVP: http://communitychallenge.eventbrite.com/
From Flagstar Bank: All FHA loans will require a minimum credit score of 640 for all borrowers. Beginning 8/15
Reverse Mortgage Specialist with the #1 provider of reverse mortgages.
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