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Westminster Realtors CE Class Reverse for Purchase

April 24, 2023
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Monday, May 15 · 10am – 1:30pm MDT
12225 N Pecos St 12225 North Pecos Street Westminster, CO 80234
Free – Lunch Included!

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Discover how a Reverse Mortgage for Purchase can be a smart solution for home buyers 55 and older who want to buy a more appropriate home with a one-time investment of about 60% of the purchase price and never make a monthly payment as long as they live in the home. Bingo Reverse Mortgage is a Colorado veteran-owned and operated business serving our local partners in real estate and lending. This class will show you how to leverage Reverse Mortgage for Purchase to better serve your clientele and also save potential clients large amounts of retirement money. Colorado’s housing market is always evolving and with more than 1/3 of home buyers over the age of 55 this class is essential in serving your business.

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720.541.5545

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Company NMLS ID: 2268418
Mortgage Loan Originator NMLS ID: 2216012

Equal Housing Opportunity

If you qualify and your loan is approved, a HECM loan must pay off your existing mortgage(s). With a HECM, no monthly mortgage payment is required. Borrowers are responsible for paying property taxes and homeowner’s insurance (which may be substantial). We do not establish an escrow account for disbursements of these payments. Borrowers must also occupy home as primary residence and pay for ongoing maintenance; otherwise the loan becomes due and payable. The loan must be paid off when the last borrower, or eligible nonborrowing surviving spouse, dies, sells the home, permanently moves out, or does not comply with the loan terms. A HECM increases the principal mortgage loan amount and decreases home equity (it is a negative amortization loan). These materials are not from HUD or FHA and were not approved by HUD or a government agency.