HappySeniorHomeOwners Blog

Home Purchase with Reverse Mortgage Financing Program!!!

June 14th, 2018 10:50 AM by Juan Luis Rodriguez-Kohly

GREAT NEWS FOR SENIOR HOME BUYERS!
  
 
Dear Florida Senior Homebuyers:

Now there is a FHA Reverse Mortgage Program that enables Seniors to purchase a Florida primary residence with Reverse Mortgage financing.

Borrower makes NO Mortgage payments as long as a Borrower lives the home as Primary Residence, pays property taxes, insurance, any property charges and maintains it in good condition.*
 
The older the youngest Borrower, the lower the DownPayment. (Please request estimate using form provided below)

Examples -  Based On Age of Youngest Borrower:

Purchase Price*

$200,000

$300,000

$500,000

$700,000

$900,000

Monthly
P & I Payment

Age

Net Cash Required To Close
(Including Closing Costs )*


$0.00

62

$129,679

$191,764

$314,904

$445,311

$648,611

67

$122,879

$181,554

$297,904

$422,203

$625,503

70

$118,879

$175,554

$287,904

$408,610

$607,800

75

$113,679

$167,754

$272,654

$390,939

$594,239

*Estimate Basedonage of youngest borrower, at4.5%Fixed Annual Rate, * Lesser of Purchase Price or Appraised Value or FHA lending Limit of $679,650. Subject to Financial Assessment and other conditions. Pre-Paids not included in Closing Costs. Subject to errors and omissions and changes without prior notice.APR Between 5.745% to 6.297%3/20/2018

 

Scenario 2: Buyer could buy a better , more satisfactory  home than what they could afford if paying  All Cash.

All Cash Purchase

Estimate With Reverse Mortgage Financing *
Age 67

Purchase Price: $200,000

Purchase Price*: $300,000

FundsRequired to Close: $200,000
PLUS Closing Costs

Net Funds Required To Close: $181,554 INCLUDING Closing Costs

Percentage of Purchase Price:100%

Percentage of Purchase Price: 63.7%

Monthly Payment: $0.00

Monthly Payment: $0.00

*Estimate Based on age 67, at 4.5% Fixed Rate, *Lesser of Purchase Price or Appraised Value or FHA lending Limit of $679.650 (1/31/2018). Pre-Paids not included in closing Costs. Subject to errors and omissions and changes without prior notice.

If you were planning to spend the $200,000 to purchase the home, now you could save the balance in your bank.

Properties that qualify: 1 to 4 families dwelling units, including Townhouses and
Condos (FHA approved only).
Call me for more information at 786-262-6486 or email me RodKohly@gmail.com or eFax at 786-345-0783 or use the form provided at the bottom of the page
Act today! Do not pass up the opportunity to buy without having to make monthly payments. Call me today!

Send this link to your REALTOR to learn more about the Program!
http://www.HappySeniorHomeOwners.com/RealtorsReverse
 
PS: As a Loan Originator, a Senior and having a Reverse Mortgage on my own home, I can tell you that it can be a blessing for many Seniors.

*  View a Reverse Mortgage Home Purchase Presentation  
*   Documents Required from Buyers - Click Here

Buy Home That Has a Reverse Mortgage
http://HappySeniorHomeOwners.com/BuyHomeHasReverse

Buy a New Construction Home with Reverse Mortgage Financing
http://HappySeniorHomeOwners.com/BuyNewHomeReverse
 
REQUEST A FREE, NO OBLIGATION ESTIMATE OF THE FUNDS A BUYER CAN EXPECT FROM REVERSE MORTGAGE FINANCING
Buyer's/Borrower's information (all Buyers must be 62 or older at date of closing)  REQUIRED FIELDS*  (please fill out and Fax to 786-345-0783 or email to RodKohly@Gmail.com
* Youngest Borrower -  Last Name: _________________________ 
* Date Of Birth:_____/_____/19___
Buyer 2 Date Of Birth: :_____/_____/19___      
* Property's Zip Code:_______________ * located in ____________________ County, FL.
* Appraised Value or Purchase Price: $_________________ 
*  Down Payment available: $ _______________
* Purpose of Loan: [ ] Purchase or [ ] Refinance
* Type of Property: ______ SFR, Townhome (PUD), 2-4 Units, Condo, FHA approved ONLY.
*If Purchase, Estimated Closing Date:___________ ____________________ / 20___
 Buyer's Realtor's Name(if any): __________________________________________
Mobile: _____________________                      Realtor Fax: _____________________
eMail: _______________________________@_______________________________. _______  
Broker:______________________________________________ Telephone: ______________
Remarks: _____________________________________________________________________________:_____/_____/19___
 
Reverse Mortgage Home Purchase Estimate Request
If you are Realtor for a Senior Buyer please fill only the Last Name of your Customer.

Your comments will be appreciated. Post here or send them to RodKohly@Gmail.com   *   For most answers call me at 786-262-6486  or visit http://HappySeniorHomeOwners.com   (English-Español).  Follow me in Facebook: http://Facebook.com/RodKohlyLO    To tell a friend visit  http://www.happyseniorhomeowners.com/tellfriend.aspx

Posted in:General and tagged: ReverseMortgageforPurchase
Posted by Juan Luis Rodriguez-Kohly on June 14th, 2018 10:50 AM

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