A HECM for Purchase (H4P) Program can help you tap into the vital 62+ age market, to create more foot traffic and sell more homes.
Every day, over 10,000 Baby Boomers turn 65
There’s over $4 trillion in home equity held by homeowners age 62+
By 2030 20% of the U.S. Population will be 65 or older
Today 1/4 of all home buyers are age 60 and above.
Learn how our Home Equity Conversion Mortgage (HECM) for Purchase program can help you tap into the vital 62+ market, to create more foot traffic and sell more homes.
Baby Boomers Turn 65
of the U.S population will be 65 or older
of all home buyers are age 60 and above
in home equity held by homeowners age 62+
HECM (Home Equity Conversion Mortgage) for Purchase
Realtors & Builders – Learn how the H4P (HECM For Purchase) can capture new customers and expand your business.
There is a great opportunity in the 62+ market
Sell More Homes
Increase purchasing power – Makes purchasing a higher-priced home with upgrades or amenities easier to afford.
Capture new customers – Baby boomers age 62+ don’t want a monthly mortgage payment, but aren’t hesitant to use the majority of their assets to purchase a new home.
Set yourself apart – Be the professional in your market who’s familiar with the program
Sell homes faster – Customers must often wait to get the highest price for their departure home; H4P (HECM for Purchase gives them more financial freedom to buy their house faster)
Attention Builders: As of September 19th, 2017, FHA no longer requires that the Certificate of Occupancy be issued before a H4P (HECM for Purchase) application. This rule was cumbersome and made no sense as it was a big hindrance for Builders and Realtors.
Benefits of H4P (HECM for Purchase) - Starting the conversation with a customer.
Non-recourse, FHA-insured loan. Borrowers and heirs are not responsible for any amount of the loan balance that exceeds the value of the home.
Alternative to a traditional mortgage or paying all cash, exclusively for people age 62 or older.
One-time upfront investment of about 45% to 65%of the purchase price, depending on borrowers age; H4P finances the rest.
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