Retirement Real Estate Financing
You’ve worked hard, saved money and invested wisely. Retirement is almost in reach, so don’t forget to consider the home you’ll live in once you’re retired. Many people today are taking advantage of record-low home prices and interest rates, and buying their dream retirement home now — years before leaving the workforce.
Buy a home you are going to live in for retirement
Buying a retirement home before you’re actually ready to retire allows you to take advantage of great deals, while also planning your ideal home location and amenities for your golden years. Even though you may now live and work in the city, you may want to retire somewhere near the beach or in the mountains. If you hesitate too long, your dream home may be out of your price range by the time you are ready to buy.
Don’t worry about paying for a retirement home
With customized loan packages from New American Funding, finding a way to finance your retirement home is easier than ever. Contact our licensed direct mortgage lender specialists today about a free up-front credit approval to see how much money you may be eligible to finance.
There are many retirement types of mortgages available, and we will help you find the best loan, with a great rate, that’s right for you. Our mortgages include little-to-no down payment financing packages and low-interest rate options to fit your budget.
If you and your partner are at least 62 years old, you may be eligible for a Reverse Mortgage, to either refinance or purchase your retirement home. As a refinance, this loan uses a portion of your home’s equity as collateral, giving you the freedom to pull out needed cash without incurring monthly expenses. When used to purchase, a Reverse Mortgage will eliminate the monthly mortgage payment and help you to preserve cash flow.
Plan for your future
Your retirement should be a time to enjoy the rewards of your hard work and savings, but wherever you are in life, your retirement will take planning and preparation.
To learn more about New American Funding’s solutions for buying a retirement home, contact one of our experienced mortgage professionals or request a quote online.