Purchase options

Primary residence

97% LTV Minimum

Options Available:

30 year
15 year
Interest Only

Second
Home

90% LTV Minimum

Options Available:

30 year
15 year
Interest Only

Investment Property

85% LTV Minimum

Options Available:

30 year
15 year
Interest Only

Home Equity Conversion Mortgage

85% LTV Minimum

Options Available:

30 year
15 year
Interest Only

How is HECM different?

Traditional Mortgage:

Limits the amount you have to invest up front, and lets you build equity over the life of the loan. However, the monthly payments reduce your cash flow, and could be an unwelcome financial burden.

HECM for Purchase:

Monthly principal and interest payments are optional. As the homeowner, you must meet your obligations to keep current with property taxes, insurance and maintenance. The loan is non-recourse, which means that you and your heirs are not responsible for any portion of the loan balance that exceeds the home’s value at the time it’s sold or the loan is repaid.

COMPARING THREE WAYS TO PURCHASE A NEW HOME

ALL CASH

You own the home
free and clear

WHY NOT?

Ties up a large portion of your money

TRADITIONAL MORTGAGE

Option to make a minimum down payment and limit up-front investment.

Builds equity as you pay down the loan

WHY NOT?

Monthly mortgage payments diminish your cash flow

HECM FOR PURCHASE

Flexible repayment feature
Can improve cash flow
Gives you the flexibility to buy the home you really want
Allows you to keep more assets to use as you wish

WHY NOT?

Larger required monetary investment up front as compared to a traditional mortgage

Contact Keri Today

Sales Office Open
Monday – Saturday, 12pM – 5Pm

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