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Reverse For Purchase

An Great Option for Clients Wanting to Rightsize in Retirement

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Utilizing a reverse mortgage to purchase a home is a valuable, smart option for retirees. Instead of using a traditional mortgage, retired borrowers can use the sale of a previously owned home — or other savings and assets — as a down payment. The option will allow your clients to use the equity created to make up the difference between the down payment and the purchase price, enabling them to move into their new home with no required monthly mortgage payment.*  

Expand your borrower base by sharing this program and its benefits with prospective buyers and realtors.

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Key Borrower Benefits

  • Allows seniors to relocate during retirement while benefiting from the financial flexibility a reverse mortgage provides
  • No monthly mortgage payment required (the borrower is still responsible for taxes, HOI and HOA dues)
  • Non-recourse loan
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Why Consider the Reverse for Purchase Program 

Whether your client wants to upsize, downsize, or relocate, the program can help homebuyers afford more home and retain more cash. The HECM for Purchase and Choice for Purchase can be more viable options than other types of financing. It can allow homeowners to just use a portion of their cash proceeds for the purchase of a new home, it can increase their purchasing power, and it can provide them with the unique benefits like no required monthly mortgage payment.* 

They’ve worked hard all their lives to get to this point.  You can help them retire better.

LET’S PARTNER

Smartfi Home Loans is here to help you provide amazing solutions for your clients while they prepare for retirement.

Contact us today

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San Diego HQ
3636 Nobel Dr.
Suite 330
San Diego, California 92122

Medina Office
1113 Medina Road
Suite 400
Medina, Ohio 44256

Contact (877) 816-6706 wholesalesupport@smartfihomeloans.com
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This site and the information on it is intended for industry professionals only. It is not intended for consumers.

2022 Smartfi Home Loans LLC (In Ohio only, does business under the trade name Bankers Guarantee Mortgage Company), Company NMLS 1862952.

These materials are not from, and have not been approved by, HUD, FHA, or any government agency. Subject to Credit Approval. For licensing information, go to: NMLS Consumer Access.

*Borrower must pay property taxes, insurance, any HOA fees and maintain the property.

** Age requirements differ by product and state.

Copyright © 2023 Smartfi Home Loans, LLC Wholesale. All Rights Reserved. Developed by TinyFrog Technologies.

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Choice vs. HECM

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Using a HECM to Purchase

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