As a lending expert in mortgage lending, I have seen how Reverse Mortgages for Purchase can be a game-changer for both Boomers and Realtors with SRES designation. In today’s tough market, Boomers are finding it difficult to purchase a home, and Realtors are struggling to get more sales and listings from buyers. Reverse Mortgages for Purchase can provide a solution for both parties.
What is a Reverse Mortgage?
A Reverse Mortgage is a type of home loan that allows seniors, who are over 62 years old, to convert a portion of their home equity into cash. Unlike a traditional mortgage, the borrower does not have to make monthly payments on the loan. Instead, the loan is paid back when the borrower sells the home, moves out, or passes away.
How Can Reverse Mortgages for Purchase Benefit Seniors?
Seniors can use Reverse Mortgages for Purchase to buy a new home without having to pay cash or make a monthly mortgage payment. This can be particularly attractive for seniors who may be on a fixed income and cannot afford a monthly mortgage payment or seniors who rely on income from assets for monthly expenses. Additionally, a Reverse Mortgage for Purchase can help seniors downsize to a more manageable home, while maintaining additional cash reserve.
How Can Reverse Mortgages for Purchase Benefit Realtors with SRES Designation?
Realtors with SRES designation can benefit from partnering with a lending expert who understands Reverse Mortgages for Purchase. By offering this option to senior clients, Realtors can help them purchase a home they may not have been able to otherwise. This can lead to more sales and listings from buyers, as well as more referrals from satisfied clients. Additionally, partnering with a lending expert who understands Reverse Mortgages for Purchase can provide Realtors with a competitive advantage in a tough market. The Seniors Real Estate Specialist (SRES) designation is a credential awarded by the National Association of Realtors to Realtors who have completed additional training on how to work with seniors. The SRES designation signifies that a Realtor has the knowledge and expertise to help seniors with their real estate needs. By partnering with a Realtor with SRES designation, seniors can be confident that they are working with someone who understands their unique needs and challenges.
Reverse Mortgages for Purchase can be a valuable tool for both seniors and Realtors with SRES designation. By partnering with a lending expert who understands Reverse Mortgages for Purchase, Realtors can offer a unique solution to senior clients and gain a competitive advantage in a tough market. Additionally, seniors can use The Retirement Approach when researching whether a Reverse Mortgages for Purchase is the right choice for providing a new level of financial flexibility in their golden years.
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Hilda Hensley
Branch Manager – Mortgage Advisor
NMLS id 280206
Carl Spiteri
Branch Manager – Mortgage Advisor
NMLS id 286890
(916) 245-0712
Benchmark Mortgage
Ark-La-Tex Financial Services, LLC NMLS id 2143
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