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HECM for Purchases in Florida: Reverse Mortgages For Purchase In Florida As a Homebuying Option

Florida’s Best Reverse Mortgage Company aims to be Florida’s leader in HECM for Purchase Reverse Mortgages.

TAMPA, FLORIDA, UNITED STATES, November 3, 2022 /EINPresswire.com/ -- HECM for purchases aren’t new, they are just becoming increasingly popular. Florida in particular has seen an increase in reverse mortgages for purchase, due to the many unique features of the loan.

Originally introduced in 2009, a Home Equity Conversion Mortgage (HECM) for Purchase, or a reverse purchase mortgage as it is sometimes known, is a reverse mortgage that allows seniors age 62 or older to purchase a new principal residence using loan proceeds from a reverse mortgage. As a reverse mortgage doesn’t require a mortgage payment, many seniors in Florida are taking advantage of the increased purchasing power and cash flow that a well structured reverse purchase mortgage can help provide.

“HECM for Purchase is a great program, especially with all of the inbound folks moving to Florida. With a reverse purchase, you can put down far less than you would by paying cash, and never have to make a mortgage payment. For seniors retiring in Florida, it’s a great way to conserve cash on hand and maximize buying power” said Brian Correa, President and chief MLO of Florida’s Best Reverse Mortgage Company.

As a local and trusted mortgage company that does business exclusively in Florida, Florida’s Best Reverse Mortgage Company is well suited to face the challenges of real estate transactions that involve many moving parts and personnel. While a reverse mortgage is different than a traditional mortgage, the process of buying a home, getting qualified, and working with a host of third parties like real estate agents, appraisers, buyer and sellers toward the mutual goal of closing the deal remains best served by those who are local and member of the community, something that Florida’s Best Reverse Mortgage Company takes particular pride in.

“A reverse purchase transaction is a lot different than a refinance. More people are involved, agents, deadlines…it’s quite difficult to manage if you are not local and knowledgeable about your region. We feel that gives us a huge advantage and helps everyone involved. Buyers, sellers, agents, title companies…they all feel better knowing they have someone local to work with and count on, anywhere in Florida. You can’t replace looking someone right in the eye when you are doing business, especially business as important as buying a home.” Mr. Correa continued.

With offices in Tampa, Clearwater/St Pete, Orlando, Jacksonville, The Villages, Fort Myers and growing, Florida’s Best Reverse Mortgage Company has Florida covered for HECM for purchase reverse mortgages, with the experience and reputation for getting reverse purchase deals closed. Face to face appointments can be made in office or in the comfort of your home via a house call; phone and virtual consultations are also available

“If you are thinking about buying anywhere is Florida and are over 62, I’d strongly recommend -you consider a HECM for Purchase. Reverse purchase mortgages allow for more buying power and leverage and let you keep a little more gold for your golden years. Don’t risk your homebuying transaction by depending on out of state lenders. When it comes to reverse mortgages, we pride ourselves in the level of service we provide that you will just not find anywhere else in Florida!” concluded Mr. Correa

About Florida’s Best Reverse Mortgage Company:

Florida’s Best Reverse Mortgage Company (NMLS # 2090602) is a boutique mortgage brokerage firm that specializes in reverse mortgages and caters to the Florida market exclusively. Dedicated to providing reverse mortgage products to senior homeowners, Florida’s Best Reverse Mortgage is community driven and locally focused. Go to www.FloridasBestReverse.com or call 844-352-2378 to learn more or to find a location near you.

Jack Summers
Florida's Best Reverse Mortgage Company
+1 844-352-2378
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