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CAN I PURCHASE A HOME WITH A REVERSE MORTGAGE WHILEMY CURRENT HOME IS FOR SALE? My current home is mortgage free.

by davidskomo473 from Cranberry Twp, Pennsylvania. Mar 18th 2017 Reply


Sure you can. You need verify that the home you are purchasing will be your primary residence. Contact me at lharvey@twmortgage.com. I'm the Reverse Specialist at the Branch. Pamortgageguys.com

Mar 19th 2017
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Sara Deere (SARAinMO)
#1 ranked lender in Kansas - 502 contributions

Yes. You will be required to take make the home your permanent residence within 60 days after signing the closing papers for the Reverse Mortgage purchase. Also you need to have about 40-45% down payment money available for your purchase. In most cases you can close on your old home in the morning, and purchase the new home in late afternoon on the same day.

Mar 20th 2017
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