This inexpensive "Senior Friendly Home" is now available in the wonderful 
North San Diego County 55+ Peacock Hills It is a simply a great community for seniors. If you are 62 years of age or older, you can purchase this home without having to pay all cash and still avoid making any payments.
I've done the buyer's math for someone who wants to own this single story 2 bedroom home that has been completely remodeled. It is currently listed for the senior friendly price of only $205,000. I've calculated how much money would be required as a down payment to make the purchase using the FHA Reverse Mortgage for Home Purchase Program.
At age 65, a senior would need approximately $91,400 down and make zero monthly payments.
At age 70, a senior would need approximately $84,000 down and make zero monthly payments.
At age 75, a senior would need approximately $76,200 down and make zero monthly payments.
At age 80, a senior would need approximately $68,000 down and make zero monthly payments.
The current interest rate is fixed at 5.49% and the Government tacks on 0.5% per annum for the Mortgage Insurance Premium (MIP). By using a Reverse Mortgage for Home Purchase, it is possible to live right here in a great climate to really enjoy your retirement years! You can find out more about how Reverse Mortgages work and do a calculation on your own by visiting my web site @ www.homeloans.com/ken-keranen.
To find out more about this home, please go to:http://kentjohnson.prudentialcal.com/CA/Oceanside/92056/homes-for-sale/1713-Peacock-Blvd-52691879
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