If you or your spouse are 62 or older, you could buy the Shea home you’ve always dreamt of by using an FHA-insured* Home Equity Conversion Mortgage for Purchase (HECM - H4P). The best part? You have no monthly mortgage payment! With the HECM-H4P Lifestyle Loan option, you can preserve more of your hard-earned nest egg and enjoy greater financial flexibility, all while living in the home of your dreams at a Trilogy® Community. Did you know with a H4P Lifestyle Loan you:
- Have no required monthly mortgage principal and interest payments* - Significantly increase cash flow - You own your home and remain on title - Have the flexibility to get the home you really want without depleting your savings - Can keep more assets to use as you wish when compared to paying cash Learn more about the Lifestyle Loan by contacting your Community Representive today!
HECM loans are available to ages 62 and above. The Lifestyle Loan™ allows the flexibility to never have to make a monthly P&I mortgage payment. You must occupy the home as your primary residence, pay property taxes, homeowner’s insurance, and HOA dues as well as maintain your home to be compliant with loan requirements. Estimated fees, including up-front FHA mortgage insurance premiums are 2% of home value (included in mortgage). Closing costs vary from state to state and can affect down payment. Please check with your licensed loan officer for actual figures. The LifeStyle Home Loan™ by Mutual of Omaha is a Home Equity Conversion Mortgage. Borrower must occupy home as primary residence and remain current on property taxes, homeowner’s insurance, the costs of home maintenance, and any HOA fees. The HECM for purchase loan is insured by the Federal Housing Administration (FHA). This material has not been reviewed, approved, or issued by the Housing and Urban Development (HUD), FHA or any government agency. This is not an offer for extension of credit nor a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice. Restrictions apply. Buyers of Shea Homes are not required to use Shea Mortgage as their lender, are free to use any lender of their choosing for the purpose of securing mortgage financing, are not limited to Shea Mortgage and are free to decline any incentives tied to the use of Shea Mortgage. Arizona Department of Financial Institutions License #0904079 NMLS #40397, California DRE Real Estate Corporation License Mortgage Loan Originator (MLO) # 01197403, Colorado Regulated by the Division of Real Estate, CO Uniform Credit Code Supervised Lender License #9881322, FL Office of Financial Regulation License #MLD111 NMLS # 40397, Idaho Mortgage Broker/Lender License # MBL-2080040397 and ID Mortgage Lender Branch Lic # 2080127597 – Licensed by ID Dept of Finance. North Carolina Commissioner of Banks License #L-106078, Texas SML Mortgage Banker registration, VA: Licensed by the Virginia State Corporation Commission Lender License #MC-5849, NMLS#40397, Washington Consumer Loan Company License No. CL-40397. Shea Mortgage does not originate HECM loans in NC, VA, or NV. We refer directly to Mutual of Omaha. For licensing information, please visit www.nmlsconsumeraccess.org. www.nmlsconsumeraccess.org.
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