Page 1 - AAG016_HECM Buying in Reverse Flyer

Discover the HECM

for Purchase Loan

The HECM for Purchase loan is a government-
insured home loan that allows buyers 62 or

better to use the equity from the sale of a
previous residence to buy their next home in

one transaction. As long you live in the home,
no matter what happens to the home’s value,
you only need to make one initial investment,

the down payment, towards the purchase.
You will of course need to pay for property
taxes, homeowner’s insurance and home

maintenance costs, and otherwise comply
with the loan terms.

Safeguards for Borrowers HECM Can Help
I
3 ndependent counseling is required by the United States 3 Eliminate monthly mortgage payments*
Department of Housing and Urban Development (HUD)
3Increase purchasing power
3 Because HECMs are a non-recourse loan borrowers will
never have to pay more than the home is worth when a 3 Right-size to a low maintenance home and
loan maturity event occurs reduce your cost of living
3 Stay close to friends and family
3 HUD requires a thorough evaluation of borrowers’ finances
to ensure that they are able to comply with the loan terms
for the life of the loan*

3 Loans are available to borrowers with a non-borrowing
spouse under the age of 62. Surviving eligible non-
borrowing spouses can stay in the home without
foreclosure as long as they comply with the loan terms*
*Borrower must continue to pay property taxes, homeowners
insurance, and home maintenance costs

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