For Realtors

The Home Equity Conversion Mortgage (HECM) is a little understood strategy for increasing your business and one of the most overlooked resources in marketing to retiring Baby Boomer Buyers and Renters. A HECM for Purchase has opened new opportunities not only for Senior Home Owners, but also for you.  Realtors now have a reason to market to the fastest and largest growing demographic in the country - over 10,000 people a day in America are turning 62. 

A HECM for Purchase loan is designed help Seniors buy their next home, combining proceeds from the sale of a previous residence with a reverse mortgage – all within a single transaction. Realtors leveraging this unique mortgage tool may help Seniors purchase homes they might not normally think they could afford.  Some benefits for you and your Senior clients:

How can a HECM increase your commissions?

  • Senior clients can purchase a more expensive home using less cash up front.
  • Provides you with a sales channel –Senior renters who can now become Buyers.
  • Save a deal by leveraging an easier to qualify financing alternative for credit or cash challenged Seniors.
  • Increase your listing presentation success by setting yourself apart from the competition. Promote another way for a Senior to buy your listing.
  • Reduce days-on market by showing other Realtors how to turn their shoppers into Buyers of your listing.
  • Generate more referrals by thinking outside the box and creating happier clients that actively promote you.

What’s in it for your Senior clients?

  • They get to purchase a home that better fits their lifestyle need without the added financial burden.
  • It allows Seniors an opportunity to leverage their purchasing power and acquire the dream home that they thought seemed out of reach.
  • Your Senior client gets to retain retirement funds for other more important lifestyle or unexpected future needs.

Some informative news articles for your buyers:

Kiplingers: Buying a Home with a Reverse Mortgage

Forbes: Can You Use A Reverse Mortgage To Purchase A New Home?

WSJ: A Reverse Mortgage to Buy a Home? Here's How

 

Your Clients are Getting Educated about Reverse Mortgages. Are you?

NBC NEWS: COULD GETTING A REVERSE MORTGAGE HELP YOU SAVE MONEY?