Page 8 - AAG126_HECM for Purchase Booklet for Real Estate Professionals
P. 8
Let’s Review Your
Buyer’s Options #1 Pay Cash in Full
3 No monthly mortgage
payment
3 Depletes savings
(“house rich, cash
poor”)
3Limited buying power
#2 AAG HECM for
Purchase Loan
Pay APPROXIMATELY HALF CASH
down payment with a HECM for
Purchase
No monthly mortgage payment*
MORE CASH IN SAVINGS
RETIREMENT / ASSET LIQUIDITY
INCREASES BUYING POWER
Compared to plan #1
#3 Traditional
30-year Fixed Loan
3 Mandatory payments for
30 years
3 More cash in savings, but
less money monthly due to
mortgage payments
*Borrower(s) must continue 3 Buying power dependent
to pay property taxes and on income
homeowners insurance,
maintain the home, and
otherwise comply with the
loan terms.
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