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1st Legacy Capital LLC, NMLS #1547824

270 Ridgeland Drive

Starkville, Mississippi 39759

662-268-8877 Office

662-796-6655 Fax

Mississippi Reverse Mortgage Website Design | Reverse Mortgage Mississippi Website by www.myfirstlegacy.com

"These materials are not from HUD or FHA and were not approved by HUD or a Government Agency"

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Real Estate Profesional's Portal

Reverse Mortgage Purchase Loan

A Reverse Mortgage purchase loan (H4P) can be used to relocate, downsize (RIGHT SIZE) or buy a new primary residence.

Here are some general characteristics of likely candidates;

• Consumers 62 years and older that have income that doesn’t meet today’s traditional mortgage lending guidelines.

• Consumers 62 years and older that would like to pay cash for their home. 

• Seniors that have income that doesn’t meet today’s lending guidelines.

To learn more about the options available with Reverse Mortgage Loan purchases, call (662) 268-8877 to speak with a local specialist! We serve all of Mississippi with the experience and team to help guide you through this process.

At first, it may seem counter-intuitive for a realtor to use reverse mortgage loans as a tool to sell more real estate. With the exception of a HECM for Purchase, reverse mortgage loans are designed to enable senior homeowners to stay in their homes and not have to sell them.

Here are a few 1st Legacy Key advantages where a reverse mortgage may help Real Estate Professionals sell more homes:

• HECM for Purchase (H4P)– A HECM for Purchase loan is designed to assist seniors buy their next home, combining proceeds from the sale of a previous residence with a reverse mortgage – all within a single transaction.

 

Realtors utilizing this mortgage tool through 1st Legacy Capital may help seniors purchase homes they might not normally think they could afford.

Often the consumers that take advantage of the H4P, Reverse Mortgage Purchase Loan product close on higher sales price properties than those  simply paying cash or using traditional mortgage loan products.