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Meet Helen Johnson

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HECM for Purchase

Helen is a single woman and wants to move closer to her children and grandchildren. Unfortunately, she believes she cannot afford the nicer home she wants.

  1. Profit from Sold Home: $400,000
  2. New Home Purchase Price: $600,000
  3. Minimum Down payment of New Home: $248,000
  4. Borrower Age: 68
  5. Monthly Mortgage Payment = $0
This example shows what happens if Helen chooses to use a HECM to purchase her new home, where she can remain payment free and enjoy a nicer home near her family.