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You make a down payment and let your HECM for Purchase loan from AAG cover the rest. And yes, you read that correctly, no mortgage payments as long as ...
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... Down payment is obtained from the sale of current home (or other savings and assets) and combined with reverse mortgage; No monthly mortgage payments ...
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It is not controlled by the lender. The rate charged on your loan can go up or down depending on if the index goes up or down. At the time of writing (December 5 ...
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