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HECM Program

HECM Reverse Mortgage: Is it right for you?

April 24, 2020

Villas at White Oak Ranch has partnered with Motto Mortgage to bring the Home Equity Mortgage (HECM) for Purchase (H4P) program to home buyers. The HECM program, created by the FHA, is specifically designed for home buyers aged 62+ to assist in buying a new home in their current stage of life with no future home loans.

The Benefits

With the HECM program, there are no monthly mortgage payments as long as the home is occupied by the buyers as their primary residence. This allows homeowners to increase their purchasing power and preserve their hard-earned cash to maintain a comfortable retirement.

As more homeowners are being introduced to the HECM program, many of them are choosing this financing solution rather than paying solely in cash or committing to a home loan payment during their retirement.

You can finally move into the home of your dreams and secure your standard of living! No home loan and no monthly mortgage payments mean your lives open up to travel, hobbies, further improving your lifestyles, and spoiling your grandchildren.

How it Works

The HECM program requires buyers to provide a down payment to cover a certain percentage of the home purchase price based on specific criteria. This will cover the difference in the HECM proceeds and the selling price of the home plus closing costs. In this reverse mortgage, the payment comes from the equity of the sale of the buyer’s previous home.

The requirements are simple. You must be at least 62 years of age and own the property or have a small balance to be cleared by the HECM proceeds.

Your lender will evaluate your ability to pay property taxes, insurance and property maintenance, but there is no minimum income or credit score requirement to get a HECM.

Watch this short video to better understand how the HECM for purchase program works:HECM for Purchase Explanation

To start exploring the HECM Loan process for your home at Villas at White Oak Ranch, please contact:

Talbot Theiss Motto MortgageTalbot Theiss
LO NMLS ID #1895220

Motto Mortgage Gracemark
NMLS #1904896

phone: 832.345.5450

Motto Mortgage



To find out more about financing your new home at The Villas at White Oak Ranch, please complete the form below: 

Or View Available Homes here. 

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This post was written by Villas at White Oak