Reverse Mortgage for Home Buyers in California

Buy a home with a California Reverse Mortgage Purchase loan and Never Make a Monthly Mortgage Payment again.  Does that sound impossible? 

Well it is not.  FHA has a home loan for home buyers in California who are 62 years old and older called the Home Equity Conversion (HECM) also known as a Reverse Mortgage.  This type of loan allows you to buy more house for your money without having to put all your money down; and there are no monthly payment.  The only thing you are responsible for is paying your property taxes and insurance as well as keeping the house in good shape.

Many senior homebuyers are looking for ways to downsize or upgrade to a home of their choice without incurring massive expenses.  They are usually looking to improve their cash flow and save more money.  By using the financing available with a Reverse Mortgage HECM purchase loan it is no wonder more and more seniors are using this type of financing to purchase a home in their golden years. 

The down payment for a Reverse Mortgage purchase is based on your age. The amount of down payment required can be calculated by a California Reverse Specialist in Orange County CA.   It may require 30-50% down.  What ever the down payment is, the remaining balance is then financed through the HECM program.  The remaining balance does not require a monthly payment. 

Legacy Financial Services in Orange County, CA will show you how to purchase a home with your down payment and not have to make a monthly mortgage payment during the life of the loan. 

 If you are 62 years old or older and looking to purchase a home without making monthly mortgage payments, you need to speak to a Reverse Mortgage expert at Legacy Financial Services in California who can explain how the program works.  Call: 888-838-4768