Learn how to buy your dream home with a one-time payment of approximately 50% of the home’s purchase price, and never make a monthly mortgage payment.

  • Available to those 62 and better
  • No monthly mortgage payment*
  • FHA-insured
  • Homeowner remains solely on title
  • Not personally liable for the debt (including heirs)

*Homeowner remains responsible for property taxes, required insurance, Homeowner’s fees, and maintenance of the property.

If you or your spouse is at least 62 and in the market to buy a new home, you will want to learn more about the FHA-insured HECM for Purchase program, or H4P for short.
HECM is the government assigned acronym for Home Equity Conversion Mortgage. The HECM is a loan that is insured by, and follows the guidelines of, the Federal Housing Administration (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD). FHA introduced the H4P program in 2009, but you may not be aware of it because it is not frequently advertised.
As long as you or your spouse is at least 62 years old, plans to make the new home the primary residence, and has the funds for closing (oftentimes through the sale of the previous residence), this is a safe and strategic way to purchase the home of your dreams. You’ll be able to purchase at a fraction of the purchase price and never have any requirement to make monthly mortgage payments.

The amount you need as your one-time investment to purchase the house (funds for closing) is based on the age of the youngest borrower and the total price of the home. For example, a 74 year old purchasing a $330,000 home would bring approximately $144,000 to closing, and we would finance the rest.

But wait…there’s more! The H4P loan is the only purchase loan that does not require you to make monthly mortgage payments; you only need to pay your property taxes, homeowner’s insurance and association fees (if any). That’s it! Title and full control remains in your name.
Not at all. With a regular mortgage you make payments every month to the lender and when the house is eventually sold, any balance is paid off and you or your heirs keep the difference. With a HECM there are no monthly payments but we are repaid in full with interest at the end of the loan. When you or your heirs sell the house, the loan balance is paid off and you or your heirs keep any difference. If for any reason your loan balance exceeds the property value, FHA steps in and pays us the difference. You and your heirs are not responsible.
Don’t worry; part of the process is education! I will explain everything in detail so you can make an informed decision. For more details and a custom scenario to match your individual circumstances, contact:

Karen Rayfield, CRMP (NMLS 202268)
Licensed Loan Officer/HECM Specialist
Toll Free: 855-769-2040
Cell: 757-287-3331
krayfield@RFSLends.com
Synergy One Lending Inc. d/b/a Retirement Funding Solutions, NMLS 1025894. 3131 Camino Del Rio N 190, San Diego, CA 92108. Pennsylvania Department of Banking and Securities License 49997. These materials are not from HUD or FHA and the document was not approved by HUD, FHA or any Government Agency.