Expand Your Business with Retirement Lending
Brunch and Learn – CE 2 Hours
November 8, 2023 10:00am to 12:00pm
12909 SW 68th Parkway | Portland, OR 97223 | First Floor Conference Room
Presenter: Steve Landis
Join us and gain expertise on the consumer benefits of both Conventional Retirement Mortgages and Home Equity Conversion Mortgages for Purchase (H4P). This course will provide you with executable ideas and bankable results!
Home buyers in or nearing retirement comprise over 42% of the buyer and seller pool. Whether you’re assisting on the buying side or listing the property, understanding the nuances of lending to this demographic will give you a competitive advantage.
First hour will get you up to speed on:
Retirement Mortgage Solutions – both Conventional Retirement Mortgages and HECM for Purchase, programs catering to buyers qualifying with retirement income sources.
Retirement Mortgages Overview:
- Retire Income Loans
- Asset Based Loans
- Home Equity Conversion Mortgage for Purchase (H4P)
Home Equity Conversion Mortgages (HECM):
- History – Where it came from, why, and improved protections that created ”HECM 2.0”
- Common Myths and Concerns
- Loan amounts and how they are calculated
- Fixed or Line of Credit Offerings
- Repayment Options
- Holding a HECM mortgage over time – what happens
- HECM Exit Strategies
- What is a maturity event?
- When & how a loan becomes due and payable
Second hour deep dive:
- Talking to your client about a HECM
- Writing an offer Using a Reverse and Closing Timeframes
- Financial Benefits of a buyer using a HECM mortgage – Financial Example
- Case Studies – Client Profile and best uses of a HECM.
- How understanding HECM creates more buyers and sellers to expand your business
- Considerations when selling a home that has a Reverse Mortgage
Whether you are curious or skeptical, come learn, explore, and understand how and why these programs are gaining such rapid adoption nationwide. Class time of 2 hours includes the above content with room for Q & A so bring your questions!
In partnership with Lawyers Title
