Retirement, social security, aging at home, reverse mortgages - facts and actual experiences shared in this blog. My 10 years experience in mortgages, plus extensive consultations with clients and their financial, estate and health care advisors - are shared here.
Wednesday, October 31, 2012
Down Size for Retirement
Of those 55 and over who have purchased a home recently or are considering purchasing a home in next 12 months - 23% want to pay cash; 60% want to put a down payment of 30% or greater; 15% a moderate down payment of 10-30%. Here is a where a reverse mortgage for purchase can help, with as little as 35% down, and NO monthly payment ever. Easier to qualify for as well. As folks enter retirement age, liquidity and cash-flow are more important home equity.
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