If you are a North County home buyer and are 62 or older, you can use a purchase reverse mortgage to buy your North County retirement home. There are no income or credit requirements. You can now afford to look at Ocean Hills Country Club homes, Emerald Lake Village homes, Oceana homes, Rancho Carlsbad homes, or other San Diego North County homes and retire in a home that’s right for you. The table below is an example of what you could expect with an appraised home value of $309,000. Contact Gary Harmon, your San Diego North County Senior Realtor, for different purchase (appraised) values up to $625,000.
If you are a Oceanside home or Carlsbad home buyer, age 62 or older, there is a new way you can purchase that North County property without having to make mortgage payment. That’s righ, make no payments the rest of your life (unless you live past 150). If you are ready to sell your current San Diego North County home and purchase a better retirement home, a purchase reverse mortgage may be just the right thing for you. You could combine the proceeds from the sale of your current North County property or just use available cash with your reverse mortgage proceeds to purchase the new home.
- You do not need to put up the entire purchase amount to buy a new San Diego North County home.
- You do not need to make any more monthly house payments for the rest of your life.
- You do not have to settle for less of a Oceanside home or Carlsbad home than the one you really want.
- You do not need to pay all cash. See the table above for an example of how much you would have to put down.
- You could use the purchase reverse mortgage to pick up that perfect vacation home. For example, you may be able to take out a reverse mortgage on your primary residence and use the proceeds for the down payment on the second home.
- Purchase reverse mortgages can be used on most types of San Diego North County homes. Examples are as follows: Single family detached, attached, condos, and even manufactured homes.
Contact me, Gary Harmon, with your questions. I work with HomeServices Lending, the nation’s leading retail originator of reverse mortgages. We’re here for you, and ready to help you realize the benefits of the new purchase reverse mortgage. Again, if you are looking at Ocean Hills Country Club homes, Emerald Lake Village homes, Oceana homes, Rancho Carlsbad homes, or other North County homes, contact Gary Harmon, your Senior North County Realtor.