Reverse Mortgage for Purchase

Home Equity Conversion Mortgage, (HECM), or Reverse Mortgage was designed to allow seniors (62+) to purchase a new residence which enables senior homeowners to relocate to other geographical areas to be closer to family, downsize to homes that meet their physical needs and into areas where ther is no outside work required. 
 
 
Program Details
 
  • Both borrowers must be at least 62 years of age

  • No monthly payments

  • One close transaction

  • Property can be a 1 to 4 unit principal residence

  • Must have funds to makeup the difference between sales price and reverse mortgage proceeds

  • Gifted funds are allowed

  • Must occupy the property within 60 days

  • Any home repairs must be completed by the seller prior to closing  

 

 

 

 

About

Universal Lending Corporation was founded over 30 years ago on the principle that our customers deserve individual and specialized attention throughout the mortgage process. This is why we have one of the highest rates of repeat borrowers in the business. Our mortgage professionals embrace our passion for customer care, and educate and empower each potential home buyer throughout the entire process, so they make informed, considerate decisions that ensure their home mortgages fit their budgets ...

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Contact Us

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- NMLS: 2996
6775 E. Evans Ave.
Denver, Colorado 80224
Phone: (800) 758-4063
Email: info@ulc.com

 

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