Texas Senior Care and Housing Directory
Texas Senior Care and Housing Directory
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Real Estate Loan Specialists - Addison, TX

Using a Reverse Mortgage Loan to Buy a Home

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Mortgage Loan Lenders - Addison, Texas

There is a “Home Equity Conversion Mortgage (HECM) for Purchase” loan that allows people 62 and older to purchase a new principal residence with HECM loan proceeds. A “HECM for Purchase” loan requires that you be 62 years of age or older and that the home you are purchasing be your principal residence. You will need to have cash available for the down payment. There will also be closing costs, which will be higher than those with other reverse mortgage loans. Some of these closing costs may be paid by the seller (depending on your state’s laws), so it is a good idea to shop around and talk to multiple lenders after speaking with your reverse mortgage housing counselor. Benefits of Using a Senior Friendly Realtor


Texas Reverse Mortgage Loans - Berkshire Lending

Berkshire Lending, LLC


14673 Midway Road, Suite 216 | Addison, TX   Map it! Map it!
If you’re 62 or older, a reverse mortgage may be right for you. Unlike other mortgage loans a reverse mortgage is an innovative financial tool that can provide you with extra income, either as a lump sum, monthly payments, line of credit or any combination of the three. You can use it to have more financial freedom, a more secure retirement, to pay health expenses, make home renovations or even to purchase your dream home. Berkshire Lending, LLC began operation in 2008. We are Texans helping Texans finding the right mortgage solution to help you reach your goals. Contact Mark Lemons, Jr. Registered Mortgage Loan Originator. Office Address: 14673 Midway Road, Suite 216 | Addison, TX 75001. MORE DETAILS >>


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