Phone: (623)693-6509
Fax: (623)218-9055
Purchasing a Home with a Reverse Mortgage

If you are age 62 or older and looking to purchase a new primary residence, you may want to consider a Home Equity Conversion Mortgage (HECM).  This type of Reverse Mortgage enables senior homebuyers to obtain a new home and an FHA-insured reverse mortgage in simultaneous transactions.

Eligible customers are allowed to combine reverse mortgage proceeds with proceeds from the sale of their current home (or other assets) and use that money to buy a new primary home. The reverse mortgage is then placed on the new primary home so that there are no monthly mortgage payments.

With an HECM for purchase feature, you could:
▪  Buy a new home without taking on new mortgage payments
▪  Buy a primary residence better suited to your needs
▪  Downsize to a smaller, newer, easier-to-maintain home
▪  Relocate closer to friends and family members
▪  Buy a home in a senior housing community

For more information, contact Wells Fargo Reverse Mortgage Consultant, Patrick Sullivan at (561) 654-4763Or Patrick.Sullivan@wellsfargo.com

More information is also available on the Wells Fargo Website at
www.wellsfargo.com/reversemortgage.

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Realty One Group
Realty One Group
7975 N. Hayden Road Suite 101A • Scottsdale, AZ 85258
Phone: (623)693-6509 • Fax: (623)218-9055



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