New American Funding (NAF) offers the Reverse Purchase Program tailored for builders targeting the Active Adult Community (55+). This program enhances the purchasing capabilities of buyers, fitting perfectly into the builder’s existing processes.

Features of Reverse for Purchase:

• Enhanced Buyer Financial Flexibility: This mortgage allows buyers to finance a significant portion of their home purchase, reducing the initial financial burden and preserving their cash reserves.
• No Monthly Mortgage Payments Required: Buyers are not required to make monthly payments on the mortgage as long as they live in the home and meet the loan’s requirements.
• Streamlined Buyer Qualifications: Less stringent income and credit requirements make it easier for buyers, particularly retirees and those on fixed incomes, to qualify.
• Immediate Home Occupancy: Buyers can move into their new homes immediately after closing, streamlining the transition process.
• Integration with Builder Sales Processes: The Reverse for Purchase mortgage can be seamlessly integrated into existing sales processes, making it a convenient option for both builders and buyers.

Benefits of Reverse for Purchase:

• Attract a Broader Market: By offering Reverse for Purchase mortgages, builders can appeal to the growing demographic of Active Adults and retirees who might be looking for a new home but are concerned about cash flow and meeting traditional mortgage qualifications.
• Increase Sales Conversion Rates: The attractive financing option removes financial barriers for many buyers, potentially increasing the builder’s sales conversion rates.
• Faster Inventory Turnover: With the ability to move in immediately and the appeal of not having monthly mortgage payments, homes marketed with Reverse for Purchase options may sell faster, reducing carrying costs for builders.
• Enhanced Market Positioning: Offering this innovative financing solution can position a builder as a preferred choice for Active Adults, distinguishing them from competitors who do not offer similar options.
• Opportunity for Upgrades and Higher-Value Sales: Buyers may opt for more expensive homes or additional upgrades knowing that they do not have to pay the full price upfront and have no monthly mortgage payments.
• Secure Transactions: Since the financing is backed by the home itself and does not rely solely on the buyer’s current income, there is a level of transaction security that can make the sales process smoother and more reliable.
• Preservation of Incentives: Builders can still offer promotional incentives which remain attractive to buyers as they are rolled back at closing, enhancing the overall value proposition.
• Expand Customer Base to Contingent Buyers: Builders can safely accept offers from buyers who are contingent on selling their previous homes, broadening the potential customer base.

For more information about leveraging Reverse for Purchase, call 888-876-1003 or email us darrin.matthews@nafinc.com