Does being able to buy your active retirement home for a one time payment of approximately 50% of the sales price, and never make a monthly mortgage payment, sound like a great opportunity? At Lake Ashton we offer such a program and many of our homeowners are currently reaping the benefits of this exciting loan option. Here’s a brief description of how the program works. Qualifying buyers of Lake Ashton homes for sale may be eligible for a “Home Equity Conversion Mortgage For Purchase” loan (HECM). Under this program, buyers who are 62 years of age and older, who make their home at Lake Ashton their permanent residence, may make a one time payment based on their age and are never required to make another monthly mortgage payment! The chart below reflects the actual down payment amounts required for various home purchase amounts based on individual age. The amounts are subject to change based on interest rate changes and loan availability. For complete details on this program and additional eligibility requirements please contact us.
Traditional loan programs are also available to purchasers of Lake Ashton real estate through our onsite lender, CenterState Bank, as well as other local and national lenders.