HECM Purchase

Using a Reverse Mortgage to Purchase a Home
3.5 Clock Hours
Instructor: Michael J. Myers
Instructor: Ed Frankel

Home Equity Conversion Mortgage (HECM) loans are offered to seniors who need to tap into their equity to cover living expenses.  HECM loans can also be used to purchase a home. A purchase reverse mortgage is a non-recourse loan that enables senior homebuyers age 62 and older to purchase a home and make no monthly principal and interest payments for as long as they live in the home.

In this course we will learn the following and more:

  • Know which borrowers are eligible for a reverse mortgage purchase.
  • Know what types of property are eligible for a reverse mortgage purchase
  • The most frequently asked questions about using a reverse mortgage for purchase
  • How reverse mortgage purchase borrowers are qualified
  • The reverse mortgage purchase timeline
  • How to market reverse mortgage for purchase transactions
  • Red flags: Local reverse mortgage fraud cases
All Scheduled Classes

206-931-2241 or jillayne@ceforward.com