Seniors have special financing needs and we know how to address them!
As we approach retirement, financing requirements change and become more specialized. Whether it is retirement, a changing health picture, or the investment of home equity into the education of grand children, or the prospect of a fixed income, regular monthly payments can become a hassle. A divorce later in life can create unexpected and unusual concerns. We're in the know with these issues and want to share some special solutions designed to really help you.
Let's start with this idea. Perhaps you have a good amount of cash stashed away, but not all the cash needed to buy the home you really want to buy. And, because of your age, health, credit rating or income level, you either can't or don't want those monthly payments. There is a tried and true special program for you! We'll fill in all the details, but here's the bottom line. Often, you can use your cash down as collateral for the balance of the purchase price. Did you get that? You can buy the house of your dreams and make no monthly payments at all. None, nada, zip! Yes, it sounds too good to be true, but it's a valid program offered by institutions, right now and it is for real. It's a special product offered by the Federal Housing Administration called an H4P loan. Most lenders don't have a clue. It takes a specialist and we have an expert associate.
And, if you aren't planning on moving, but need more cash to live on, we might be able to help out. Again, there is a new, for-seniors-only program, from the FHA called a HECM. This program can be used to make sure you never have to make a house payment again. Use the equity you already have as the collateral of the amount owed and make no monthy payments. Interested?
Call us any time about these programs. We'll be happy to recommend a lending professional that can explain these programs.