Wouldn’t it be nice to buy MORE home without the hassle of having a monthly mortgage payment?
Of course, it would be nice because who really wants a big house payment during their retirement years. But instead of settling for a lesser home just to avoid a monthly mortgage payment, why don’t you explore the benefits of buying with a reverse mortgage.
Here is how some of our recent clients were able to benefit:
Bill was 65 and his wife, Sally, was 62. Both were retired and wanted to buy their forever home without a monthly mortgage payment. They sold their existing Northeast home and netted $400,000 in sales proceeds and looked forward to paying cash for their new Cape Cod home.
To their surprise, they could not find a home they loved in the $400,000 price range.
Sure, they could have settled for something, but they really had their hearts set on buying that forever home they had spent decades dreaming about. Good thing their real estate agent asked them to talk to David Tourtillott about the possibilities of buying their new home with a Reverse Mortgage.
David was able to increase their buying power from $400,000 to $550,000… and the best part was that Bill & Sally only had to bring $215,000 to closing out of their $400,000 proceeds from the sale of their home! Yes, they were able to buy more home, put less money down, enjoy their forever home without a monthly mortgage payment and put the remaining $185,000 in the bank.
Now you can see why so many people are buying with reverse mortgages today.
Give David a call at 617.797.3277 to find out more about this amazing financial tool!