Reverse Purchase

A Reverse Purchase allows retirees and eligible borrowers over the age of 62 to partially finance the purchase of a new home. A Reverse Purchase works just like a Reverse Refinance by liquidating the equity that a potential borrower would establish with the purchase of a new home through the down payment.

For Example:

Bob and Sue are buying a $300,000 home but only have $200,000 to put down at closing. They are able to finance the remaining $100,000 by doing a Reverse Purchase that will liquidate the $200,000 equity they use to buy the home.

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