What is a HECM?

The HECM for purchase may be the right loan option for you, if you have specific goals for your home. Planning for your future, eliminating concerns about financial debt, and finding the “right size” are all examples of goals for those who could benefit from a HECM.

The HECM can also protect you and your spouse, adding safeguards to keep you worry free. These safeguards can include but are not limited to:

• No Pre-Payment Penalty

• Borrower Remains on the Title

• No Maturity Date

• Asset Protection

and more!

Verified assets can reduce the down payment on your new home purchase price. Once eligibility is confirmed with either the borrower or the property, it is possible to no longer be responsible for monthly mortgage payments.

Eligibility confirmation can be slowed down by things like having an unpaid federal lien, current FHA Mortgages, and other items. If you’re not sure if you or your property qualify, ask Jennifer today!

Yes! If you’d like to refinance instead, a HECM is also an option for you. You can use the equity in your current home to take out money in several different methods that can help make refinancing easy.