Be Grateful for Every Moment. Find out if a Reverse Mortgage Loan is Right for You!

November 20, 2019

 The HECM for Purchase (H4P) is a reverse mortgage loan insured by the Federal Housing Administration (FHA) that allows seniors to use the equity from the sale of a previous residence to buy their next primary home in one transaction. Regardless of how long a borrower lives in the home or what happens to the home’s value, the borrower only makes one initial investment (down payment) towards the purchase. The loan be-comes repayable when the last surviving borrower moves out of the home, or loan terms are no longer met.

* Most, but not all, reverse mortgages today are federally insured through the Federal Housing Administration’s Home Equity Conversion Mortgage (HECM) Program. This advertisement talks about HECM loans only.


With a Reverse Mortgage Loan you may be able to retire in the home of your dreams!




1. Enables senior homebuyers to purchase a new primary residence and obtain areverse mortgage loan in simultaneous transactions.


2. A reverse mortgage loan is the only mortgage that never requires a payment until you pass away or move out of your home — you will still be required to paytaxes, insurance and maintenance.




• Build a new customized home
• Purchase a primary residence suitable for your current needs.
• Purchase a home in a senior housing community
• Move into a new home that’s easily accessible with modern amenities
• Downsize to a smaller, easier– to—maintain home
• Relocate closer to friends and family members




• Borrowers must be 62 years or older

• Purchased home is required to be your primary residence

• New property must be: single– family home, 2-4 unit dwelling or FHA– approved condo

• For a home purchase, you must have an ade-quate down payment* for your new home based on your age

• No credit score requirements, some income and credit qualifications apply to make sure you have the ability to pay taxes and insurance.


*The required down payment on your new home is determined on a number of factors, including your age (or eligible non-borrowing spouse’s age, if applicable); current interest rates; and the lesser of the home’s appraised value or purchase price.






• No monthly mortgage payments (You must continue to pay taxes, insurance and maintenance)

• Tax-free cash from loan proceeds (This advertise-ment does not constitute tax advice. Please consult a tax advisor regarding your specific situation.)

• Increase discretionary cash flow

• Can sell YOUR home at any time

• Some income and credit qualifications apply to ensure you have the ability to pay taxes, Insurance and maintain the home: (some property qualifications also apply.)




Copyright©2019 Fairway Independent Mortgage Corporation (“Fairway”) NMLS#2289. 4750 S. Biltmore Lane, Madison, WI 53718, 1-866-912-4800. All rights reserved. Fairway is not affiliated with any government agencies. These materials are not from HUD or FHA and were not approved by HUD or a government agency. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old. Monthly reverse mortgage advances may affect eligibility for some other programs. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.


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