Realtors

Real estate professionals: A home financing option that can help you sell more homes

The Baby Boom generation represents an important opportunity for real estate professionals to serve a rapidly growing market of people: those who are retiring According to Realtor.com, 30% of home buyers and sellers are 55 and older. The trend is clear—Baby Boomers are right-sizing, and they’re looking for convenience and comfort. How can you better serve this market?

The Baby Boomer generation represents an important opportunity for real estate professionals to serve a rapidly growing market of homebuyers: those who are retiring and motivated to sell their current home and purchase one that’s better suited for their needs in retirement or closer to family and friends.

How a reverse mortgage works

Buyers can purchase a home by combining a one-time investment of their own funds (a down payment of typically about 45% to 62%, depending on borrower age) with loan proceeds from a reverse mortgage.^‡

As with a traditional mortgage, the home they purchase secures the loan. But unlike a traditional mortgage, monthly mortgage payments are optional while they own and live in the home as their primary residence — making buying a new home even more attractive.

As with any home-secured loan, the borrower must meet their loan obligations, keeping current with property taxes, insurance and maintenance.

REVERSE MORTGAGES ALLOW YOUR CLIENTS TO:

MAXIMIZE THEIR CASH FLOW

A reverse mortgage for purchase allows buyers to purchase a new home without making a monthly mortgage payment.^|| That means they can keep significantly more cash and assets in reserve for necessities and luxuries in retirement and improve their monthly cash flow.

SUPERSIZE THEIR PURCHASING POWER

Your clients can increase their buying power and maximize their cash investment in a new home with a reverse mortgage for purchase. By combining their down payment with reverse mortgage loan proceeds, they can more comfortably afford an upscale home or a property in a more desirable location.

PRIORITIZE THEIR LIFE

Purchasing a new home for the next phase of their life doesn’t have to mean downsizing. With a reverse mortgage for purchase, they can right-size to a home that aligns better with their current and future plans. Your clients can reassess what’s important — whether that’s moving closer to family or friends, clearing out clutter or buying a home with upgraded features.

Expand the market you serve

A reverse mortgage home financing solution can make it easier for people and older to buy a home that better fits their retirement needs and wants. It can also help you grow your book of business by helping you capture a brand-new — and rapidly growing — market of homebuyers and gain a larger audience for your listings.

And as more shoppers become buyers, you generate more leads from satisfied customers. Reach out to learn more — I’m glad to help!

^‡This down payment range assumes closing costs will be financed into the loan. The information being displayed is for illustrative purposes only. Actual cash required may vary and is based on age of youngest borrower, interest rate, home value, and other factors. Please contact Reverse Mortgage Funding LLC (RMF) for details about credit costs and terms.
^||As with any mortgage, the borrower must meet their loan obligations, keeping current with property taxes, insurance and maintenance.