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
MonthlyP & 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
*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 pageAct 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 Mortgagehttp://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 FINANCINGBuyer'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