Susan Pomfret, Senior VP of the HECM Lending Division at Cross Country Mortgage, LLC shares information on HECM for Purchase. A Home Equity Conversion Mortgage (HECM) for Purchase allows those 62 and older to purchase a primary residence, there is also a Reverse Mortgage for Purchase product for those 60 and older.

Borrowers are realizing the benefits of using a HECM for Purchase and how they can improve their retirement and live a more financially stress-free retirement.

Disclaimers: All loans subject to underwriting approval. Certain restrictions apply. Call for details. NMLS3029 ( Rhode Island Licensed Lender. CrossCountry Mortgage, LLC is an FHA Approved Lending Institution and is not acting on behalf of or at the direction of HUD/FHA or the Federal government. To obtain a HECM, you must attend HUD Approved Counseling available at little to no cost and receive a certificate of completion that will be required during the application process. You will be responsible for property taxes and homeowner’s insurance and upkeep of the property.

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