http://www.internationalpropertiesandinvestmentsfl.com/#!Is-a-Reverse-Mortgage-Right-For-You-/cak2/6DB4B38E-759C-4E56-84A7-923EB84455B8 http://www.internationalpropertiesandinvestmentsfl.com/ You can use your reverse mortgage on your current home to buy another home. This helps you when you want to buy another home closer to your kids. Contact us today and we will match you with the best agent to help you!Contact Nestor Gasset directly on his mobile phone: 561-541-9936 to get started with your relocation to sunny South Florida today.

1. Is a Reverse Mortgage
Right For You?
Nestor Gasset &
Katerina Gasset
International Properties and Investments LLC

2. The most important part of the Reverse Mortgage process
is before you can shop for one you must be counseled about
the program.
Contact HUD.gov and search for " Find an HECM Housing
Counselor".
You can also find more information about reverse mortgages
by going to: reversemortgage.org

4. You can use your reverse mortgage on your current home
to buy another home. This helps you when you want to
buy another home closer to your kids.
You need to have about half of the new home purchase
price in cash and the rest can be the reverse mortgage so
you won't have to carry a mortgage payment.

5. Some of the qualifications is that you need to be at least 62
years old and that the new home you buy must be your
primary residence - you have to live there at least 180 days
out of the year.
You can see how much you qualify for at: mtgprofessor.com.
Your lender will tell you what your maximum payout will be
which is partly based on your new home purchase price up to
$625,000, your age, your spouse's age and the interest rate
on your loan.

6. The older you are and the less interest you pay- you
can get more of a reverse mortgage.
If you take your payout all in one lump payment- the
interest rate is now about 5%. But if you don't take it
all out you could be looking at an interest rate
between 2.5% and 3%.

7. The fees you will need to pay at closing are your closing
costs, your lender's origination fee and mortgage insurance
upfront premium which will be about 2.5% of the home's
value. If you take less than the full amount, your premium
upfront will also be less.
You can roll some of these fees into your loan.

8. Outside of this and the fees you will continue to be
responsible to pay property taxes and hazard insurance
and of course any HOA fees or Condo fees that pertain to
your property.
When both you and your spouse die, the loan must be
repaid. The amount that will have to be repaid is either the
mortgage balance or 95% of the appraised value of the
property, whichever is lower.

9. The ways to handle this are; selling the house to pay the
mortgage off, paying the house off outright or giving the
keys to the lender.
If you are looking for a home here in South Florida- St Lucie
County, Martin County, Palm Beach County, Broward
County, Miami/Dade County... we have agents who know
these areas very well and will help you find your second
home to be near your grown kids and your grandchildren
and perhaps great grandchildren.

10. We have some wonderful active
adult 55+ communities here in
South Florida.

11. Contact us today and we will match you
with the best agent to help you! Contact
Nestor Gasset directly on his
mobile phone: 561-541-9936 to get
started with your relocation to sunny
South Florida today.

12. Nestor Gasset & Katerina Gasset
Realtors®, REOS, CIPS, SFR, GRI, ABR
1021 Cherry Lane,
Wellington, Fl, 33414
561-753-0135
brokernestorg@gmail.com
www.floridaipi.com