Page 1 - AAG096_B2C Jumbo for Purchase Flyer

AAG’s Advantage for Advantage for

Purchase Loans Purchase Loan
Example

What if you had an option to purchase a new high-value home and increase your
financial flexibility? AAG’s Advantage for Purchase loan is a Jumbo Reverse Mortgage
loan specifically designed for buyers 55* or better. The Advantage for Purchase offers A homeowner age 70,
you the opportunity to purchase a high-value home with no monthly mortgage sells their existing home
payments.** for $2,000,000.

*The Advantage product options have a minimum age requirement of 55 in all states, with the exception
of NY, and WA in which the minimum age is 60, and UT, NC, and TX in which the minimum age
requirement is 62. **Borrower must continue to pay property taxes, homeowners insurance, and home
maintenance costs.
Step One
Eligibility: Features:
g Must be age 55* or better g No monthly mortgage payments** Purchase a New Home
g The home must be your g Loan amounts available up to The homeowner finds a NEW
primary residence $4 million home for $1,500,000. 5
g Meet loan-to-value g No mortgage insurance required Use $832,865 as a down
requirements means lower closing costs payment.

Use $685,500 from an
How It Works Advantage for Purchase
loan to complete purchase.
Would you like to see how you can buy a new home with no monthly mortgage
payments?** Use the charts below to get an idea of how much of a home purchase
could be financed by an AAG Advantage loan and how much money you would need
to provide at closing.

Loan Amount: Locate the age on the chart closest to your or your age or your Step Two
younger spouse’s age. Then find the home value closest to the home you would want
to purchase. This will give you an estimate of the AAG Advantage loan amount. +$832,865
down payment
HOME VALUE $1,000,000 $1,500,000 $2,000,000 +$685,500

65 Years Old $426,000 1 $639,000 4 $852,000 7 loan to complete purchase
70 Years Old $457,000 2 $685,500 5 $914,000 8
$1,500,000 +
85 Years Old $570,000 3 $855,000 6 $1,140,000 9
Closing Costs
Chart 1. Advantage Loan Amount***

Down Payment: Locate the age on the chart closest to your or your younger spouse’s
age. Then find the home value closest to the home you would want to purchase. This Step Three
will give you an estimate of the amount you would need to provide at closing.
$1,167,135 at your disposal
and $0 monthly mortgage
HOME VALUE $1,000,000 $1,500,000 $2,000,000
payments.
65 Years Old $590,149 $879,365 $1,168,581
(Borrower must continue
70 Years Old $559,149 $832,865 $1,106,581
to pay property taxes,
85 Years Old $446,149 $663,365 $880,581 homeowners insurance, and

Chart 2. Estimated Amount Buyer Needs to Provide at Closing home maintenance costs.)