Home Equity Conversion Mortgage (HECM)

If you and your spouse  are at least 62 and you do not want to tie up a lot of cash on a home purchase a Home Equity Conversion Mortgage may be the answer

Total Cash Requirements between 20% and 40% of the purchase price
No additional payments required i.e. There is no mortgage payment you just need to pay the taxes and insurance
You have all the benefits of home ownership
You or your heirs are not responsible for any negative equity which may exist upon your death or if you decide to move.

  Important Things To Know
No Credit score qualification required
Income requirements sufficient to pay taxes, insurance and to live your life! There are no employment requirements and no debt-to-income requirements
No monthly payments ever!
You can live in the house until the last borrower vacates
You may purchase and new or exisiting single family home or FHA approved Condo
Maximum purchase price is $625,000

  Steps To Qualify
You and your spouse must be 62 or older
The mortgage can only be used for your primary residence
Money required for closing cannot be acquired through debt.

See How Much Cash You Would Need

Call us, email us or contact us today for more details. We are licensed Florida Real Estate Agents.
Our license requires us to follow the strict Realtor
code of ethics  use our services with confidence.

Sky Blue Real Estate   
Lake Worth, FL

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