62+ Dream Home Program
FHA has a
special program just for older homebuyers!
The majority of eligible
Homeowners, Realtors, and Home Builders are unaware of this government insured,
HECM For Purchase program that allows Buyers to make a one-time down payment and
never have a mortgage payment. This is one time where it pays to be older . . .
because the older you are, the less initial down payment you have to make!
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If one of you are
62 years of age or better and buying your next home as your primary residence,
FHA has an amazing purchase program* for you. As homeowners are being introduced
to this program, many of them are choosing it rather than paying all cash or
committing to a mortgage payment during their retirement.
For example:
You could purchase a $300,000 home with a $150,000 down payment and never make a
mortgage payment on the financed balance!** You will still own the home, it is
titled in only your name, you can sell the home any time, and you NEVER owe more
than the home is worth.
Think of how your financial picture would change by not having a
mortgage payment and having more assets working for your retirement. By keeping
your assets invested versus being tied up in the equity of your home provides an
increased safety net for unexpected expenses in the future. With no monthly
mortgage payments you could travel, spoil your grandchildren and ensure a more
comfortable standard of living while you get everything you've ever wanted in
your New Home! This may sound too good to be true, but it isn't. Why wait? Start
living your dream life in your DREAM home today.
The Home Equity
Conversion Mortgage purchase loan is insured by the Federal Housing
Administration (FHA) and administered by HUD.
You may also watch a
recorded presentation here:
http://www.h4ppresentation.com.
For more information, call Janet Browning at (317) 590-7823 for details.
*This is not an approval for a
loan. All applicants must meet the loan guidelines and certain income and credit
history qualifications. The estimates above represent a typical required down
payment. Required down payments vary based on the youngest borrower's age and
other factors.
** Example based on 4.75% fixed interest rate, 4.87%
APR, and youngest borrower age 62.
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