Why work with Fairway?
- Professional Team Approach
- All Fairway Reverse Mortgage Planners Are Required Additional Training
- Potential Referral Partnership
- Opportunity To Work With More Senior Clients
- Joint Seminar Opportunities With You
Free Download: A New Look At Retirement Cash Flow
A reverse mortgage loan converts the wealth that homeowners own but can’t touch—home equity—into cash that they can use to improve retirement.
Builder/Realtor Case Study
For illustrative purposes only.
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James and Mary, who are 62 and 59, want to move to a retirement community. They want to keep the same size of home they currently have but home values are more than double in the retirement spots they want. A Realtor® recommend to them that with a reverse mortgage for purchase, they could buy a house similar to the one that they currently have worth twice the price and be able to relocate to where they want.
![](https://fairwayreverse.com/wp-content/uploads/2021/11/image-10.png)
James and Mary could continue to live in this $391,400 home.
The house and story is used for illustration purposes only. House may not be available for purchase.
![](https://fairwayreverse.com/wp-content/uploads/2021/11/image-13.png)
![](https://fairwayreverse.com/wp-content/uploads/2021/11/image-11.png)
They could move to a $600,000 home for $391,400 down with no monthly mortgage payments, except for taxes, insurance, and maintenance.
CLIENTS COULD SELL THEIR HOUSE FOR $391,400 AND PURCHASE A HOME FOR $600,000.
How a Home Equity Conversion Mortgage (HECM) for Purchase (H4P) Can Benefit You & Your Clients
According to the National Reverse Mortgage Lenders Association (NRMLA), More Than a Million Households Across the Nation Are Using a HECM Reverse Mortgage.*
Key Facts:
- Only One Loan Required
- Fixed- And Adjustable-Rate Options
- Homeowner Remains On Title As Long As He/She Lives In The Home As Primary Residence And Abides By All Other Loan Terms.
- FHA-Insured Home Financing
- Down Payment Of Between 30-70% Of Purchase Price Is Required, And Is Based On Several Factors, Including The Age Of The Youngest Borrower.
- Borrower Will Have No Monthly Mortgage Payments; Taxes, Insurance And Maintenance Are Always Required To Be Paid.
- No Repayment of Loan Until Borrower No Longer Lives In The Home and Continues To Abide By All Loan Terms.
- Pre-Qualification** Will Take Place Up Front With Pre-Qualification Letter Provided
- Application Can Be Completed On A New Build Prior To The Certificate Of Occupancy Being Finalized
BENEFITS FOR YOUR CUSTOMER
- Only 30-70% Down Payment
- No Monthly Payment Except For Taxes, Insurance, And Maintenance
- Increase In Client's Cash Flow
- Minimal Income And Credit Requirements
- Available In Fixed- Or Adjustable-Rate Options
- Potential Additional Funds For Remodeling Projects
BENEFITS FOR YOU
- More Shoppers Can Become Homebuyers
- Projected Increase For Sales And Add-Ons Of 30% And Up
- More Foot Traffic
- More Upgrades & Add-Ons Are Purchased
- Happier Buyers Who Get More For Their Money
- Average Purchase Price Increase
- Better Realtor® Relationship