Purchasing a Home with a Hawaii Reverse Mortgage
If you are a senior (62 or over) and are planning to relocate to Hawaii or downsize into a home that better suits your current or future needs, a Hawaii Reverse Mortgage Purchase may be a perfect fit for you.
Important facts about a Hawaii Reverse Mortgage:
Using the proceeds from the sale of your current home or cash on hand, you will make a down payment (usually 40% to 50% of the purchase price) on your new home.
The balance of the purchase is covered by your Hawaii Reverse Mortgage (HECM), and any remaining funds can be used as you choose.
As with any home, the homeowner is responsible for paying property taxes, insurance premiums, and maintaining the home.
You own your home – not the bank!
You will make no monthly mortgage payments on the new loan for as long as you or your spouse (if applicable) live in the home.
You can refinance or sell whenever you want with no penalty.
Contact us for a consultation and have all of your Hawaii reverse mortgage questions answered today!
You’ll find out:
Do I qualify for a purchase reverse mortgage?
How much money can I get?
Is a reverse mortgage right for me?
How does a reverse mortgage work?
What kind of reverse mortgage products are available to me?
No Application Fee!