Description

This CE class is about the HECM fo Home Purchase program, which offers senior buyers (62+) the opportunity to buy a home with an initial down payment of approximately 50% and have no required monthly mortgage payments for life, as long as the home remains their primary residensc. They remain on the title, can sell the home anytime, and can leave the home to their heirs.

This course will prepare real estate agents to market and sell to seniors, which will increase sales and commissions. At the end of the class, real estate agents will be able to separate myths from reality, identify the homes that qualify for this type of mortgage, know what is allowed when writing a purchase contract, and be empowered to increase commissions while selling homes at half cost.

We would like to inform you of an increase in the HECM Lending Limit effective January 1, 2022. This is an exciting announcement for your Realtor members.

Practically speaking, a 70-year old borrower can now purchase a $1,000,000 home for $504,700 with no monthly mortgage payments for the rest of his/her life. So the home would be sold for approximately HALF-COST and the REALTORS® would earn commission on a $1,000,000 sale.