The Purchase Reverse Mortgage course explains how to utilize FHA’s Home Equity Conversion Mortgage, or Reverse Mortgage to purchase a home. This program allows seniors, age 62 or older, to purchase a new principal residence using loan proceeds from the reverse mortgage resulting in no principal or interest payments for as long as the last borrower remains in the home. Real estate agents will benefit from taking this class by; understanding the availability of a product that has been created for clients 62 and older, increased referrals, increased business and by understanding how this product can increase the average sales price of homes sold. Most importantly, real estate agents will have the comfort and self-satisfaction of knowing they have helped their senior clients improve their lifestyle greater than they dreamed possible. (That is a hint to one factor that will increase referrals).
- Introduction to HECM
- Separating Myths from Reality on the Reverse Mortgage
- Borrower & Property Eligibility
- Understanding the Purchase Transaction
- The Ethical & Moral Implications of the Reverse Mortgage
- Understanding the Senior Demographic
- Ethical and Effective Marketing Strategies for the Senior Demographic