Your Forever Home: Interactive Reverse Mortgage Purchase Guide

Your Interactive Purchase Guide Retire Your Way with Reverse Mortgage!

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Purchase Your Forever Home

with a Federally Insured Retirement Loan!

Choose: No Mortgage Payment or Make Payments

Click the video or scan the QR code to watch!

Meet Kathy:

Kathy Colkitt

Branch Manager/Loan Officer NMLS# 73055 / MLS-4672

Call/Text: 509-999-6464 Email: teamkathy@genevafi.com Kathy has been serving happy homebuyers and owners for several decades as a mortgage loan originator. She is an advocate at heart!

Kathy enjoys spending time in nature, socializing with friends, and spending time with family. She has a wonderfully supportive husband and two beautiful daughters.​​Kathy has completed the National Mortgage Exam and FBI background and credit checks.

Licensed in: Washington, Idaho, Montana, & Arizona Book Developed by Kathy Colkitt & Melissa Shain

In This Guide

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Page 4

What is a Retirement Loan?

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Consumer Q&A

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How to Qualify How to Sell & Buy

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Loan Requirements Fun Ideas!

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When You No Longer Live in Your Home

Use Your Equity to Win! Story 1

Purchase a Home at Age 62 Sell Your Home for $450,000 Buy New Home for $350,000 HECM Down Payment = $243,000 Leaves You $207,000 Cash for Personal Use

Story 2

Purchase a Home at Age 75 Sell Your Home for $450,000 Buy New Home for $350,000 HECM Down Payment = $212,500 Leaves You $237,500 Cash for Personal Use

Meet Sharon!

Examples based on age & purchase price (est. numbers)

Watch These 4 Stories:

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Retirement Loan for Home Purchase

Click the video or scan the QR code to watch!

How the Loan Works for You! *$640,413

$400,000

$164,400

$467,943

$220,567

$547,528 *$397,024 $295,923

Example: 75-year-old buyer

Graph shows loan balance and equity growth Purchase price = $400,000 (value of $640,413 after 12 years) *4% expected appreciation used for equity growth Mortgage loan begins @ $164,400 ($397,024 balance owed at year 12) *Fixed rate: 6.870% & APR 7.440% Reverse Mortgage for purchase can allow equity growth over time, and your loan balance increases over time until you leave the home.

Your Federally Insured Retirement Loan (FHA Reverse Mortgage HECM) is a non-recourse loan to benefit homeowners age 62 & older.

Watch Video Explaining Graph Above:

What Friends & Neighbors Say!

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"The freedom to be able to do some of the things we want to do and see our grandkids"

"I don't even have to think about it"

"I still own my house ... what a relief to be able to have that security"

"I'd do it in a heartbeat any day of the week"

Apply Now: bit.ly/applyteamkathy Reach out to Kathy.

Our team will take care of you!

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How to Qualify

FHA HECM for Purchase

1. Based on age a. Must be 62 or older b. Unmarried couples allowed (as long as both are 62 or older) 2. Based on price of home a. Appraised value = purchase price b. Seller-Paid Contribution to Closing Costs Allowed Up to 3%

3. Income Social Security, W2 Wages, Pension, VA Benefit, etc.

4. Credit a. Consumer debt (monthly payments) b. New property taxes, insurance, HOA (monthly costs) c. Poor credit, collections, judgments may require a LESA (call for an explanation)

Contact Kathy & Team to become qualified for approval!

How to Sell & Buy 1. Get a CMA (Fair Market Value of the home you will sell) 2. You will know how much cash you’ll have for your forever home once you review: a. Cost to sell b. Debts to be paid off

Watch Video

Keeping Your Home Requires You to...

Pay your taxes on time Pay your Homeowners Insurance on time Pay any homeowners association (HOA) dues on time Maintain your property’s condition Once a year: Sign your owner-occupied certification & return it to your servicer

Remember: You do this anyway now!

Bought Your Forever Home?

Fun Ideas for the Remaining Funds from the Sale of Your Previous Home: Pay Debt Off Purchase a Vacation or 2nd Home (Even in Another State for You Snowbirds!)

Purchase an income-producing property, such as a 1-4 unit investment or Airbnb Weddings Education Vacation/Travel Buy a Car/Recreational Vehicle Medical Services Such As Medication In-Home Care Services Equipment Unexpected Medical Costs

Watch Video

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When You No Longer Live in Your Home...

You or Your Heirs Can Sell: Take the equity that’s left Heirs Can Decide to: Refinance your home into their name If your home is worth less than what is owed: Your heirs will give the house back to the bank without any cost to your heirs Note: HECM is a guaranteed non-recourse loan issued by the Federal Government to assure that you and your loved ones are not left with mortgage debt!

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Refinance vs. Purchase Option

Age in place in your current home with an FHA HECM Reverse Mortgage Cash available (depending on program and equity availability) - 2025 Max Loan Limit: $1,209,750 Requirements still apply: Pay taxes on time Pay Homeowners Ins. on time Pay HOA dues on time

Maintain property condition Annually sign your owner-occupied certification & return it to your servicer

Kathy Colkitt - Branch Manager/MLO Geneva Financial, LLC NMLS #73055 / MLS-4672 Lic. in WA, ID, MT, & AZ WA CL/ENTITY NMLS#-42056

Call 509-999-6464

Scan for Most Updated Version of this Book!

Or visit: bit.ly/your-forever-home

nmlsconsumeraccess.org • genevafi.com/disclosures-and-licenses/ Copyright©2024 Geneva Financial, LLC, NMLS #42056 This is not a commitment to make a loan. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet LTV requirements for refinances, and final credit approval. Not all applicants will qualify. Approvals are subject to underwriting guidelines, interest rates, and program guidelines, and are subject to change without notice based on applicant’s eligibility and market conditions. Geneva Financial LLC is not acting on behalf of or at the direction of HUD/FHA or the Federal Government. Geneva Financial LLC is approved to participate in FHA programs but the products and services performed by Geneva Financial LLC are not coming directly from HUD or FHA. Geneva Financial LLC NMLS #42056 is an Equal Opportunity Lender and Equal Housing Lender. 180 S. Arizona Ave Ste 310 Chandler, AZ 85225. 1-888-889-0009. AZ BK #0910215 **These materials are not from HUD or FHA and were not approved by HUD or a government agency. Reverse mortgage borrowers are required to obtain an eligibility certificate by receiving counseling sessions with a HUD-approved agency. The youngest borrower must be at least 62 years old. Monthly reverse mortgage advances may affect eligibility for some other programs. This is not an offer to enter into an agreement. Not all customers will qualify. Information, rates and programs are subject to change without notice. All products are subject to credit and property approval. Other restrictions and limitations may apply.