Investor Insider Secrets

401K and IRA

Investing 401Ks and IRAs in real estate will become one of the most important tools we have as it gets harder and harder to find stated income loans and qualify for a conventional loan.

Benefits of investing 401K or IRA:

  • Purchase real estate without a lender
  • Get higher return on investment
  • Grow your nest egg faster

HECM: New Reverse Mortgage

The new reverse mortgage program, (or “HECM—Home Equity Conversion Mortgage”), allows those who qualify to make a large cash down payment on a home or condo and use the reverse mortgage as permanent financing for the rest of the home price. The size of the down payment varies depending on the age of the buyer and the interest rate of the loan.

The homeowner would only need to pay:

  • Property tax
  • Insurance
  • Maintenance cost
  • HOA

HECM eligibility

  • You must be at least 62 years old (individual and couples)
  • You must occupy the property within 60 days of closing
  • No credit or income required

Type of property

  • Single family home
  • Condos
  • Manufactured homes
  • 2-4 unit buildings

Acceptable sources of down payments

  • Saleof current home (equity)
  • Retirement accounts
  • Savings
  • Proceeds from selling personal properties

Unacceptable sources of down payments

  • Gifts
  • Credit card advances
  • Bridge loans
  • Personal loans (loans against personal assets and subordinate loans)

More Information on HECM loans:

VA Loans

If you are a veteran or active duty personnel, this is the best time to buy your own home or purchase a retirement/vacation home. The new purchase price limits make it possible for you to buy — even in San Francisco.

VA loan benefits:

  • New limits $1,094,625 - $1,500,000
  • No money down
  • Seller pays buyer's allowable fees and closing costs
  • Close in 30-45 days

We work with experienced and dedicated mortgage brokers who specialize in VA loans and are ready to help you.

Start the process today. Call 415.412.8721 for a referral.