If you’re thinking about buying a new nest for your retirement years, a Home Equity Conversion Mortgage (HECM) loan may be worth exploring. Available to those ages 62 and above, the HECM loan is federally insured. Whether you’re seeking some extra funds for life’s daily expenses or you want to make it easier to check off your travel bucket list or put the kids through college, an HECM Loan can be a smart move. It can provide financial flexibility and increased cash flow that make it all the more possible to live well in a stunning new home.
So – what does an HECM have to do with Shea Homes®? Since Trilogy® Orlando does accept HECM for Purchase Loans, this means that the home and lifestyle of your dreams could be more accessible than ever. As with any loan, you must pay taxes, insurance, HOA dues/fees, and maintain your home. With a HECM for Purchase Loan, however, you’ll have no required monthly mortgage principal or interest payments, which could significantly increase your cash flow. Since you’re not paying cash, you can keep more assets to use as you wish, and you’ll have the flexibility and purchasing power to potentially get more home than you could with other loan products.
Here are a few reasons to consider this alternative route to purchasing a home at a Trilogy by Shea Homes community:
No Required Monthly Principal and Interest Mortgage Payments
With a HECM Loan, you can eliminate your traditional mortgage payments, which are often your largest recurring monthly payments. Imagine the extra cash you’ll have available without them! Just note that as the owner of the home, you’ll still pay for insurance, HOA fees, property taxes, and the maintenance/upkeep of your home.
Financial Flexibility
HECM Loans are flexible products that can be used in the way that best fits your financial needs and wants. Whether you need some assistance with ongoing expenses or you just want to use the product as a financial planning tool, this type of loan could be a perfect fit.
Extend the Life of Your Retirement Savings
If you’ve eliminated your monthly mortgage payments and accessed the equity in your home for your current needs and wants, you may not need to dip into your retirement savings right away. That means the hard-earned money that you’ve been saving for your golden years could go further than you ever imagined.
Personal finances can be complicated, and a HECM for Purchase Loan is just one of many options. If you’re interested in learning more, contact us today at 800.540.7432 or via email [ADD LINK to HECMLoanInfo@SheaMortgage.com] to discover how a HECM for Purchase loan can help you finance the Trilogy lifestyle you’ve always imagined!
This material has not been reviewed, approved, or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.
Buyers are NOT required to use Shea Mortgage as their lender and may select any lending institution of their choosing for the purpose of securing mortgage financing and are free to decline any incentives tied to the use of Shea Mortgage. Offer is available for loans made or arranged through Shea Mortgage Inc., 29122 Rancho Viejo Rd. Suite 202; San Juan Capistrano, CA 92675 (NMLS # 40397). 1-800-540-7432. Copyright 2019. All Rights Reserved. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all loan amounts. Other restrictions and limitations apply. Arizona Department of Financial Institutions License #0904079 Shea Mortgage Inc., 14350 N 87th Street, Suite 350, Scottsdale, AZ 85260; Colorado Regulated by the Division of Real Estate, Colorado Registration; FL Office of Financial Regulation Mortgage Lender License #MLD111; Texas SML Mortgage Banker registration; VA Licensed by the Virginia State Corporation Commission, Lender License #MC-5849, NMLS#40397 (www.nmlsconsumeraccess.org) license #MC-5849, NMLS#40397; Washington Consumer Loan Company License No. CL-40397. For licensing information, please visit www.nmlsconsumeraccess.org Equal housing opportunity. Information, rates, and programs are subject to change and/or cancellation without prior notice. Other restrictions and limitations apply. For licensing information, please visit www.nmlsconsumeraccess.org. Equal Housing Opportunity Trademarks are property of their respective owners. Models are not an indication of racial preference. Equal Housing Opportunity. 5/19