Reverse For Purchase

Reverse For Purchase

The Home Equity Conversion Mortgage (HECM) for Purchase allows seniors at least 62 years of age to purchase a home through a reverse mortgage. This can be a valuable option for seniors who need a new home that better meets their physical needs or who wish to move closer to family members.

You DO NOT make monthly payments on the new house because this is a reverse mortgage product. However, unlike a traditional reverse mortgage, HECM for purchase loans require a down payment. This must be paid by the borrower. The typical down payment required is based on the borrower’s age. The older the borrower is, the lower the down payment requirement will be. HECM for purchases are subject to the same guidelines as a standard HECM loan.

Follow Richard with Central Florida Reverse


Licensing

Central Florida Reverse
- NMLS: 1486483
- FL: MBR2015
- GA: 62076

Licensing

W. Brandon McWhorter
- NMLS: 1222276
- FL: LO29724
- GA: 62082

Richard W. McWhorter
- NMLS: 1618644
- FL: LO 44137
- GA: 57530

Contact Us

Central Florida Reverse
200 E Tillman Avenue
Lake Wales, FL 33898

Number:
(404) 313-9785

Hours:
MON-FRI 9AM - 5PM EST

McWhorter Mortgage, LLC, dba Central Florida Reverse Mortgage, NMLS 1486483, provides an Equal Housing Opportunity.  Information is subject to change without notice.  This is not an offer for extension of credit or a commitment to secure a loan.  Some restrictions may apply. McWhorter Mortgage is licensed in Florida and Georgia, call for referral recommendations in other states. This material is not from HUD or FHA and has not been approved by HUD or any government agency.