fha: 50% Down and No Payments: Really?
- 02/01/12 06:18 AM
50% Down and No Monthly Payment- You're Kidding! Buying a home with a Reverse Mortgage Purchase loan: What an amazing concept! Purchasing a home with a reverse mortgage is done by using the same program you use when refinancing but applying it in a slightly different way. The homeowner is still required to have equity in the home, however instead of accumulating that equity over time, they are required to put the equity into the home in the form of a down payment at the time of purchase. An example of a reverse mortgage purchase transaction would be a sale price … (0 comments)
50% Down and No Monthly Payment- You're Kidding!
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