Throughout the past three-quarters of a century, Baby Boomers have transformed practically every aspect of American culture, from music and food to employment and retirement – and everything in between. So it only makes sense that, as the Boomer population continues to simplify their lives, they also are responsible for a shift in the way their homes are financed.
The Home Equity Conversion Mortgage for Purchase Program – known as H4P – is bringing owning their dream home within reach of Boomers who want to use funds from the sale of their existing home, protect their retirement nest egg, and avoid the burden of a monthly mortgage payment.
With the H4P program, home buyers ages 62 and over can qualify with a one-time payment of 50% of the price of the home and absolutely no mortgage payment, as long as the new home is their primary residence, and they remain current on the property taxes and insurance.
The FHA-insured program, which has been available since 2009, enables middle income and affluent Baby Boomers to purchase their dream home without having to make a mortgage payment, an attractive option for those whose existing home’s sales price is less than the purchase price of their new dream home.
H4P Features:
• Designed for home buyers ages 62 and over who are “right-sizing”
• Program is FHA-Insured for security & peace of mind
• NO MONTHLY MORTGAGE PAYMENTS
• Retirement “nest egg” is protected
Speak to your Windsong on-site sales representative today to find out more about how to purchase your dream home. The H4P program gives us one more reason to say, “Welcome to Windsong, Where Life’s A Breeze!”