What would you do with
no monthly mortgage payments?
The 62+ Loan™ from 55places Mortgage
No monthly mortgage paymentsRequest Info
Complete your bucket list without completely draining your bank account.
55places Mortgage understands the active adult lifestyle you're looking for and knows what it means to have financial freedom. That's why we recommend The 62+ Loan™, a home equity conversion mortgage (HECM for Purchase). Make one down payment & you're done. No monthly mortgage payments ever.
How does The 62+ Loan™ work?
Meet Eligibility Criteria
At least one borrower must be 62 or older.
This home must be your primary residence.
Your down payment depends on the cost of your house and your age.
Make Down Payment
55-65% down is all you need to never make another mortgage payment again.
You only need to pay property taxes, insurance, HOA dues and maintenance.
Explore Your New Lifestyle
Own your dream home forever.
Take that vacation you've always dreamed of, spend more time with grandkids, or give more to charity.
Reinvest your extra funds and supplement your monthly income.
Monthly Payment Options
|Cash||30-Year Fixed Mortgage||15-Year Fixed Mortgage||5/1 Year ARM|
|Down Payment||$193,000||$350,000||$70,000 (20%)||$70,000 (20%)||$1,773|
(Annual Percentage Rate)
|Own the Home|
|Extra Cash in Your Pocket|
|Request Info||View Details||Request Info|
APR (Annual Percentage Rate) based on a fixed rate HECM with a 5% interest rate as of 2019-10-1
The prices and percentages provided are for estimating purposes only. Consult with a mortgage expert to determine precise payment requirements.
Start living the life you've always imagined.
Contact us for a free, no-obligation consultation.