Reverse Mortgage for Purchase: Helping Seniors Buy a Right-Size Home with the Right Tool

Reverse Mortgage for Purchase: Helping Seniors Buy a Right-Size Home with the Right Tool

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Reverse Mortgage for Purchase: Helping Seniors Buy a Right-Size Home with the Right Tool - Allen Chao

The Home Equity Conversion Mortgage (HECM) is one of the safest ways to mortgage for seniors who are 62 and above due to the program’s federal guarantees by HUD.

A little known strategy is to help clients purchase a new home so they can upsize, downsize, or right-size for their retirement home. By using the reverse mortgage to finance the new home, clients can save thousands of dollars in closing costs from a single financing transaction, protect their portfolio and available assets, manage their mortgage payments, and age in place with the safe and federally-guaranteed HECM.   

Join Allen Chao from Longbridge Financial for an in-depth look at the reverse mortgage and how it can be used to purchase a new home with no future mortgage payments.

In Reverse Mortgage for Purchase: Helping Seniors Buy a Right-Size Home with the Right Tool" by Allen Chao, you will:

  1. Learn about HUD protections for the Home Equity Conversion Mortgage (HECM);
  2. Survey examples of when to age in place versus moving;
  3. Identify several benefits of using a HECM for purchase in comparison to other options;
  4. Analyze a recent purchase case study. 

This on-demand webinar is a recording of a recent live webinar. Check our WEEKLY REBROADCAST SCHEDULE where there is no need to take the online quiz to receive CE. You may also take this on-demand course any time for 1 hr CFP®, CRC®, and other Continuing Education Credit when you pass the online quiz.

Your presenter is Allen Chao, Senior Account Executive
at Longbridge Financial.

Allen Chao, Senior Account Executive, Longbridge
Financial, LLC


Meet Allen Chao, Senior Account Executive, Longbridge Financial, LLC

Retirement planning experience

Allen Chao is a Senior Account Executive at Longbridge Financial with six years of reverse mortgage-specific experience in origination activities, including management at a Top 3 reverse lender.  He’s presented at FPA, NAPFA, and Investment News on the reverse mortgage program and works directly with financial institutions and advisors to incorporate the tool into their offerings.  He graduated as a Valedictorian B.B.A in Economics and B.B.A in Finance from Lamar University.

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