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Interested in Purchasing

a Home a Better Way?
Contact me to see
A Home Equity Conversion Mortgage if a HECM for

(HECM) for Purchase loan allows for a one‐
time investment and no monthly mortgage Purchase loan
payments* required! from AAG can
*Borrowers must continue to maintain their home, pay property help you finance
taxes and homeowners insurance, and otherwise comply with
all loan terms. your ideal home!

A HECM for Purchase is an FHA-insured, non-recourse loan, which means, there is no personal financial
liability for you, your heirs, or your estate for any balance that exceeds the value of the home when it
is sold. At the end of the loan, heirs have the option to refinance or sell the property to pay off the
loan balance (in full or at 95% of the home’s appraised value – whichever is less).

Since there are no required monthly mortgage payments, you
could free up money for other things. You must of course
maintain the home, pay property taxes and homeowners
insurance, and otherwise comply with the terms of the loan.

HECM for Purchase Loan Specifics:

Exclusive to those age 62 or better. You remain solely on title.

One transaction with one closing simplifies Fixed-rate and adjustable-rate options
the process. are available.

There are minimal income and credit score Best of all, you enjoy all these advantages
requirements. and still own your own home.

AGE 62 65 70 75 85

Purchase Price Cash Required for Down Payment

$300,000 $179,238¹ $173,238⁶ $163,338¹¹ $155,538¹⁶ $127,938²¹
$400,000 $237,538² $229,538⁷ $216,338¹² $205,938¹⁷ $169,138²²
$500,000 $294,838³ $284,838⁸ $268,338¹³ $255,338¹⁸ $209,338²³
$600,000 $352,138⁴ $340,138⁹ $320,338¹⁴ $304,738¹⁹ $249,538²⁴
$700,000 $409,438⁵ $395,438¹⁰ $372,338¹⁵ $354,138²⁰ $289,738²⁵