Welcome to the 8th
edition of the SimpleReverse Marketing Minute!
This week, we want to highlight the fact that Baby Boomers are currently the largest share of new home buyers and that Home Equity Conversion Mortgages (reverse mortgages) can be a great tool to help them Increase Their Purchasing Power or to Preserve Cash!
Purchase Facts:
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42% of all recent home purchases are by Baby Boomers (ages 58-77)*
·
53% of all recent home sales are from Baby Boomers (they all have to find a new place to live!)*
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They are moving to either downsize, right-size, move closer to family or purchase homes that are low maintenance or maintenance free
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A majority of these Baby Boomer buyers are using ALL CASH to purchase their new home
A Home Equity Conversion Mortgage (reverse mortgage) can help them to:
-Increase Their Purchasing Power (buy more home than they can afford with just cash)
-Preserve Cash (meaning that they don’t need to tie up all of their cash in the home, giving them extra cash to use for other purposes in retirement)!
So, if you aren’t already doing so, you need to be offering the Home Equity Conversion Mortgage (reverse mortgage) to these new potential customers! Offering this loan will not only expand your potential customer base, but it gives you a great tool to talk about with all of your realtor partners to help them tap into this growing Baby Boomer sales boom and help them grow their business as well!
Here at SimpleReverse, we are here to help! If its marketing tools, marketing ideas, product training, scenarios or just a basic question; we are here as a resource to help you expand your knowledge and grow your business!! Don't hesitate to reach out today for any of your reverse mortgage needs!!! SimpleReverse is here to make the reverse mortgage product and YOUR reverse mortgage business SIMPLE, EASY and EFFICIENT for both you and your customers!!
Give me a call TODAY and we can help you too experience the SimpleReverse DIFFERENCE!!
*Data comes from the National Association of Realtors(NAR) report, 2024
