Great News For Florida's REALTORS,
Developers,
Sellers and Senior HomeBuyers!




NOW, HomeBuyers 60 years of age or older can PURCHASE  a House or CONDO
as Primary Residence in Florida up to a Maximum Loan of
$3,000,000 with
Reverse Mortgage Financing.

Both FHA and Proprietary Plan Reverse Mortgages Available.
To be Owner Occupied Properties: SFR,  2-4 RIN, Townhouses, and 
NOW CONDOS*

Borrowers DO NOT make any Principal & Interest payments after closing,  as long as one of them lives it as primary residence,  pay taxes, insurance, and any property charges

 

Examples based on Age of Youngest Buyer/Borrower


Purchase Price*

$200,000
 
HECM CMT

$300,000
 
HECM CMT

$500,000
 
HECM CMT

$700,000
 
HECM CMT

$1,000,000
 
HECM CMT

$3,000,000
 
Equity Elite

Monthly  P & I Payment

Age

Cash Required To Close
(Including Closing Costs)*

 

$0.00

62

$111,647

$164,772

$270,022

$374,202

$617,601

$1,761,722

70
 

$101,247

$148,172

$244,002

$337,852

$574,838

$1,572,722


 
Please Note: if your 70 years old Buyer has:
1) $700,000 to buy All Cash, Buyer could buy a $1,000,000 home with 
$574,838

2)  $600,000 to buy All Cash, Buyer could buy a $800,000 home with $337,852

3) $200,000 to buy All Cash, Buyer could buy a $300,000 home with $148.122

INCLUDING Closing Costs!     Do your Real Estate Math!

*Estimates Based  on  age of youngest  buyer-borrower, at  HECM: CMT Expected Annual Adjustable Rate of 3,120%,  or Equity Elite: Fixed Annual Rate 7.125% ,7.558% APR.* Lesser of Purchase Price or Appraised Value or FHA Lending Limit of $822,375 for 2021. Or Equity Elite Maximum Loan amount of $3,000,000. Subject to Financial Assessment and other conditions. Pre-Paids not included in Closing Costs. Equity Elite Condo Proceeds Lower than SFR (shown here),  Condos Project approval by Equity Elite Lender reqiured.  Individual Condo Units approval by FHA required. Subject to errors and omissions and Interest and Program changes without prior notice.       12/4/2020


 There is a rapidly growing market of Seniors and Baby Boomers buying properties in Florida. You can provide a valuable service for Buyers and Sellers and  increase your real estate earnings.

As a Loan Originator, a Senior and a Reverse Mortgage Mortgagor (I have a Reverse Mortgage on my own home), and former REALTOR, I can vouch for the fact that, for many, a Reverse Mortgage can be a blessing.

 
 View a short PresentationFor REALTORS on the Reverse Mortgage For Purchase Program:  


 Send a short presentation on the Reverse Mortgage for Purchase to your Customer
ENGLISH
ESPANOL

JUMBOS:


 REQUEST A FREE, NO OBLIGATION ESTIMATE OF THE FUNDS YOUR BUYERS WOULD NEED TO BRING TO THE CLOSING TABLE WITH REVERSE MORTGAGE FINANCING

 

As a former REALTOR,
I understand YOU.
As a Reverse Mortgage
 Borrower,
I understand
your BUYER

 
 


 


Reverse Mortgage Home Purchase Estimate Request

If you are Realtor for a Senior Buyer please fill only the Last Name of your customer as identifier. Any contact will be through you. Please include as much requested information as possible. Estimates will be more accurate when Dates of Birth are provided. If you prefer you can print the form and fax it to 786-345-0783 or email it to RodKohly@gmail.com View Privacy Policy: http://HappySeniorHomeOwners.com/PrivacyPolicy

HECM PURCHASE ESTIMATE Request Information Form

Great Florida Lending, Inc

2828 Coral Way, Ste. 470
Miami, FL 33145