Question: But what happens when the proceeds from the sale of their previous home don’t cover the cost of the new home they had hoped for? Well, 25% settle for a lesser home, while others bite their lip and accept the mortgage and payments that come with it; still, some decide to use savings to make up the difference.

What if they could have both?

Five reasons for you to consider the introduction of a reverse mortgage for homebuyers:

• Increased Inventory – If you are only looking for homes valued up to $400,000, how many more properties are there if you increase the range to $600,000?
• Live the dream, don’t settle for less– Show them how you can put them in a property they want to live in, not simply a home they are settling for.
• Asset Liquidity – Instead of using all their assets to buy a home, show them how to keep assets liquid for retirement; who wouldn’t want more savings?
• Increased Market Awareness – When you can show potential homebuyers alternative solutions to their needs, you will undoubtedly appear better informed than the competition.
• Increased Commissions – Would you rather sell a $600,000 home or a $400,000 home? You do the math.

If you would like a copy of the “Reverse Mortgage – Home Buying Guide,” which explains more about the program, give me a call or send me an email, and I’d be happy to mail one to you.

Homebuyers – Home Buying for Retirement

Why should you consider a reverse mortgage when buying a home in retirement?

 Answer: Purchase the home where you want to live rather than settle for something less; or to stay liquid, saving funds for retirement.

When people start shopping for a new home later in life, most have specific desires. Perhaps they want one-story living, a dream kitchen, or an open concept. But no one wants to make a mortgage payment. Having made monthly house payments for years, they want to use the equity from the sale of their previous home to buy a home with no mortgage payments. The only payments they’ll accept are the customary real estate taxes, homeowners’ insurance, and possible homeowner’s association dues.

Question:  But what happens when the amount from the sale of your previous home doesn’t get you the new home you had hoped for?  Well some settle for less home, and others bite their lip and accept the mortgage and payments that accompany them.

What if you could have both?

Three reasons to consider a reverse mortgage when buying:

• Increased Inventory – If you are only looking for homes valued up to $400,000, how many more properties are there if you increase the value to $600,000? A reverse mortgage will eliminate any monthly payment on the increased amount. Remember, a reverse mortgage never has a required monthly payment.
• Live your dream. Don’t settle for less. Put yourself in a property you want to live in, not simply a home you are settling for. If you use a reverse mortgage for the price difference, monthly payments are optional, never required.
• Asset Liquidity – Instead of using all your cash to purchase your retirement home, keep some of it liquid for investments in retirement; think of it as a safety net, or portfolio risk management. (….. more on that later.)

If you would like a copy of the “Reverse Mortgage – Home Buying Guide,” which explains more about the program, give me a call at (843) 491-1436 or complete the form below, and I’d be happy to mail one to you.