What is a Home Equity Conversion Mortgage for Purchase (H4P)?
Why You Must Go For a H4P?
H4P is all about simplifying your relocation needs! Build a new home plus get your reverse mortgage funds. Bid farewell to multiple transactions.
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Find your ideal H4P lender effortlessly with KreditSanta's top picks for 2024, guaranteeing a seamless home purchase experience just for you.
Don't let loan decisions puzzle you! With KreditSanta, piece together your perfect solution using intuitive tools like calculators, expert insights, comparisons, and predictions, ensuring your home buying journey is smooth sailing.
Fast Rate CheckA Home Equity Conversion Mortgage for Purchase (H4P) is a type of reverse mortgage that allows homebuyers aged 62 or older to use the equity from the sale of their previous home to finance the purchase of a new primary residence.
This unique loan option enables older adults to downsize, relocate, or move into a more suitable home without requiring a large upfront cash payment. At KreditSanta, we offer a platform where individuals can compare H4P options from various lenders, ensuring they find the best fit for their needs.
Easier for you to qualify compared to a traditional mortgage.
You're not required to make monthly mortgage payments (but must cover property charges like taxes and insurance).
You can preserve your cash reserves and retain more financial flexibility.
Boost your buying power with a reverse mortgage.
Potential tax benefits for you.
Shield yourself against declining property values.
Get third-party assistance in evaluating its appropriateness for your needs.
You own your home with a reverse mortgage.