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FHA Program for 62+

Purchase your dream home with as little as 44% down and never make another payment. Yes its true. Its the HECM purchase program. Different from your normal reverse mortgage, this one helps you purchase a home. It is aged based. Now you don’t have to put all of your cash into brick and mortar, you can do want you want with the rest….. Invest, travel, etc. All you have to do to qualify is be 62 or over and it will be primary residence. Minimal credit requirements, minimal income requirements, no employment requirements. You are responsible for taxes, HOA’s, and upkeep of the home or condo.
For example… You are 68 years old purchasing a 225,000 home, you make a one time payment of 110,611 at todays’ rates, and that’s it, no more payments, grow the rest of your money however you would like.

Author: Myrtle Beach Real Estate

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