Retirement Planning with
VanDyk Mortgage
A loan for borrowers 62 and older that converts their qualifying home equity into cash. Interest, fees and Mortgage insurance are added to the loan balance rather than paid monthly. The balance becomes due when the borrower or an eligible non-borrowing spouse permanently leaves the home, or if the loan terms are not met.
Non-recourse protection: you’ll never be required to repay more than the home is worth at the time of sale.
Funds can be received as a line of credit, installments, a lump sum, or a combination of these options.
A HECM for Purchase (Home Equity Conversion Mortgage) is a FHA insured reverse mortgage allowing homebuyers aged 62+ to purchase an eligible new primary residence. You can use your net sale proceeds from your current home or other non-borrowed assets for a down payment, with the rest covered by the loan. You can have the option of no monthly mortgage payments. You are responsible for taxes, insurance and home maintenance.
Find Out If You Qualify:
Maria Donizetti, NMLS#359780
Loan Originator
VanDyk Mortgage Tampa
5020 W Linebaugh Ave
Tampa, FL 33624
Office: (727) 560-1619
mdonizetti@vandykmortgage.com
