TACOMA SENIORS: Qualify for Home Loans With Zero Payments.
(Yes. You read correctly. You can finance your home and make Zero mortgage payments!)
Senior Citizens and retirees sometimes find it hard to buy a home. Besides the usual credit history, banks require a verifiable income. This can block your loan application if your retirement check is lower than your previous payroll check or if you are living from your savings and investments.
Finally, a solution! A new Federal program (FHA) allows you to purchase your home with 35% down payment and your loan payments are zero! No qualifying, no income requirements. Buyers of 62 years and over just choose your home, make the 35% down, and move in.
Of course there is no free money here. Your loan will be tied to something like a reverse mortgage. The lender will have a claim on your property when you move or pass on. Your presumptive heirs may not be delighted with the arrangement but, if you like, you can couple your no-payment-mortgage with a life insurance policy. And because the lender is making a bet on your home's future value, the interest rate is a little higher than normal.
The good news is if you can raise the down payment, you can own the home of your dreams at any age.
For suggestions on how you can raise the 35% down payment or to contact a mortgage banker who can qualify you for this special program, please leave me a comment below with a point of contact. Or call me directly:
STEVE FORTSON ,Turn Key Real Estate
Tacoma 1 888 301 4221
TACOMA SENIORS: Qualify for Home Loans With Zero Payments.
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