How to Use a Reverse Mortgage to Buy a Second Home?
Reverse mortgages are relatively new products, but they have huge benefits, particularly for individuals who are hoping to purchase a second home in Colorado. The loan you receive against your first home when you choose to use a reverse mortgage can be used to purchase a second home: effectively, you are releasing the equity from one property to enable the purchase of another.
What is a Reverse Mortgage?
A reverse mortgage is a mortgage type that enables a homeowner to borrow money against the value of his or her home. Typically targeted at seniors, when you take out a reverse mortgage, no repayment of the mortgage is required until either the borrower dies or the home is sold. When you
Information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Information deemed reliable but not guaranteed by the MLS.
Listing information last updated on April 3rd, 2020 at 5:34pm MDT.
Terms and Conditions: The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange ("IDX") program of METROLIST, INC., DBA RECOLORADO® Real estate listings held by brokers other than Kenna Real Estate are marked with the IDX Logo. This information is being provided for the consumers personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified.
Copyright 2020 METROLIST, INC., DBA RECOLORADO® -- All Rights Reserved 6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listing information last updated on April 3rd, 2020 at 5:19pm MDT.