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 A homeowner age
financial flexibility? AAG’s Advantage for Purchase loan is a Jumbo Reverse Mortgage 70, sells their existing
loan specifically designed for buyers 60* or better. The Advantage for Purchase offers home for $2,000,000.
you the opportunity to purchase a high-value home with no monthly mortgage
payments.**

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

Use $685,500 from
an Advantage for
How It Works Purchase loan to
Would you like to see how you can buy a new home with no monthly mortgage complete purchase.
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.
Step Two
Loan Amount: 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 +$832,865
will give you an estimate of the AAG Advantage loan amount. down payment

+$685,500
HOME VALUE $1,000,000 $1,500,000 $2,000,000
loan to complete purchase
65 Years Old $426,000 1 $639,000 4 $852,000 7
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***

Step Three
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 $1,167,135 at your
will give you an estimate of the amount you would need to provide at closing. disposal and $0
monthly mortgage
HOME VALUE $1,000,000 $1,500,000 $2,000,000 payments. (Borrower
must continue
65 Years Old $590,149 $879,365 $1,168,581
to pay property
70 Years Old $559,149 $832,865 $1,106,581 taxes, homeowners
85 Years Old $446,149 $663,365 $880,581 insurance, and home

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