Page 1 - AAG030_Choose the Best Purchasing Plan for Your Home

CHOOSE THE BEST PURCHASING PLAN

for Your Home

Purchase Plan #1 Purchase Plan #2 Purchase Plan #3

Pay APPROX HALF CASH Traditional 30-year fixed
Pay cash in full with a HECM for Purchase mortgage
(Home Equity Conversion Mortgage)

No monthly mortgage payment No monthly mortgage payment* Mandatory payments
for 30 years

Depletes savings MORE CASH IN SAVINGS More cash in savings, but less
(“house rich, cash poor”) RETIREMENT / ASSET money monthly due to mortgage
LIQUIDITY payments

Buying power dependent
Limited buying power DOUBLES BUYING POWER
Compared to plan #1 on income
*Borrower must pay property taxes, homeowner’s insurance, and home maintenance costs.

Purchase Plan #2: FHA-Insured HECM Loan

Sales Price $200,000 $300,000 $500,000

Age Estimated Cash to Close
62 $122,640 1 $183,283 5 $300,703 9

65 $120,183 2 $177,283 6 $290,703 10

70 $113,603 3 $167,303 7 $273,703 11

75 $108,403 4 $159,503 8 $260,703 12

Call me today to learn more!

SEE REVERSE FOR IMPORTANT DISCLOSURE INFORMATION