Page 1 - AAG073_Open House Flyer

Why Settle When You

Can Get More?

Own a beautiful home

valued at $300,000 for a
one-time initial payment

of only $166,418 !
8

If you’re 62 or older, you can use a Home
Equity Conversion Mortgage (HECM) for
Purchase to buy the home you want —
not the one you’ll settle for.

Loan Specifics 25 Ways a HECM for Purchase Could Work for You

3 Available to those age 62 and over Age of Younger Borrower
(eligible non-borrowing spouse may Purchase
be under age 62) Price 62 65 70 75 85

3 No monthly mortgage payments* $200,000 $122,882¹ $118,882² $112,082³ $106,882⁴ $88,082⁵

3 Minimal income and credit $300,000 $182,618⁶ $175,571⁷ $166,418⁸ $158,618⁹ $130,41¹⁰
requirements $400,000 $242,132¹¹ $234,132¹² $220,532¹³ $210,132¹⁴ $172,532¹⁵

3 FHA-Insured $500,000 $300,684¹⁶ $290,684¹⁷ $273,684¹⁸ $260,684¹⁹ $213,684²⁰

3 Borrower(s) remain solely on title** $600,000 $359,163²¹ $347,163²² $326,763²³ $311,163²⁴ $254,763²⁵
Estimated Down Payment
3 Closing costs may be financed into
mortgage From the top row, select the age nearest that of the youngest borrower. Then match it
with a projected home purchase price, on the left, to estimate your initial payment. Exp: A
70-year-old’s estimated initial payment on a $500,000 home would be $273,684. 13
*Borrower must continue to pay property taxes
and homeowners insurance, maintain the home,
and otherwise comply with the loan terms. Check out how much you can get with
**As with a traditional mortgage, the property just a one-time initial payment!
would still be subject to a lien.

Contact me today to learn more!

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