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Can you purchase a home with a reverse mortgage

by kennyjeannie194 from , California. Mar 22nd 2017 Reply


Marty Appel (MartyA)
#666 ranked lender in California - 9 contributions

Yes you can. You must have cash to pay the difference, typically 50% of the purchase price will be covered by the reverse mortgage.

Mar 22nd 2017
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Ruth Healy (lender)
#439 ranked lender in California - 3 contributions

Absolutely, at least one buyer must be age 62 or older and the amount you may borrower depends on several factors. I would be happy to discuss your specific scenario, call Ruth Healy 310-920-9985

Mar 22nd 2017
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Joe Metzler (JoeMetzler)
#1 ranked lender in Minnesota - 3,446 contributions

Yes you can, and it works like a charm.

Mar 22nd 2017
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Larry Gray (lgray_312_247)
#4 ranked lender in California - 1,127 contributions

Absolutely, as aptly answered thus far! When it comes to having substantial deposits the door opens for buying with a reverse mortgage loan.

Mar 22nd 2017
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William J Acres (William_Acres)
#2 ranked lender in Arizona - 7,797 contributions

Yes you can.. It's just the loan to value is determined by the age of the youngest of all borrowers.. If you would like me to look at your specific scenario, just give me a call.. i'd be happy to assist. I'm a preferred Lender with Arizona and California being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / RPM Mortgage NMLS 1541014 / AZMB0121893

Mar 23rd 2017
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