Did you know in a recent Redfin Survey (Sept 2024) that 43% of all homeowners over the age of 60 said they NEVER want to sell their home? And can you guess what the top two reasons were they gave for feeling that way?

• 63% said it was because they owned their home free and clear (or almost paid off) and didn’t want to take on a mortgage

• 30% said moving would be “more expensive” and most likely would end up in them having a mortgage payment they didn’t want

However, we know there are a lot of reasons that many homeowners over the age of 60 would move if they felt it was financially viable. They might want to:

• Live closer to family
• Decrease the maintenance, taxes and insurance costs of their larger, older property
• Have a home that meets their current or future functional needs (reduce stairs, maintenance)

So what if we could help you eliminate the first two roadblocks and give these clients the opportunity to achieve their real goals and dreams? With a Reverse Mortgage, you could do just that!

Homeowners over the age of 62 can use a Reverse Mortgage to help purchase a new home that meets their existing or future needs, all without having a monthly mortgage payment! 

The Reverse Mortgage product has been around since 1988 but this is not your grandfather’s product — recent changes to the program have eliminated many of the concerns and stigmas associated with a reverse mortgage. Many financial planners today are more aware of this product and how it can be utilized to their client’s financial and tax benefit.

While we do not expect you or our loan officers to be certified financial planners, we do want to educate you on the opportunities this product could provide to someone who has goals and dreams of moving but does not believe they could do this without taking on monthly mortgage payments. Our Key Mortgage loan officers are prepared to provide you with the education and training on how you can engage your clients, sphere and community. This information will help you provide value, opportunity and a path to achieving their goals, which could translate into potentially more listings for the market.

Reach out to your Key Mortgage loan officer and set up a time to speak with them on how this could help you get more listings this spring!