Issue 7.17
The Parade of Homes is now in full swing! Welcome to all of you who love to come and see the latest and greatest in home designs. Builders, designers and craftsman have been working at a dizzying pace to prepare amazing homes so that you can explore the possibilities and dream just a little. Of course, once you see the possibilities, you may begin considering the decision to buy or build here in St. George. Having lived here for nearly 12 years, I can say you’ll be glad you did.
For those of you who are 62 and are looking to move here as your primary residence, you may want to consider one of the FHA insured senior financing programs that allow you to put less than 50% down on a home and make no payments for as long as you live in your home. Whether you are visiting St. George for the first time or have lived here all your life, these programs are available to help you afford the life you’ve always dreamed about. Many seniors have already taken advantage of these programs and they are becoming more and more popular every day.
Some of you may be enjoying our warmer weather and considering owning a second home in St. George to escape those cold winter months up north. You too can take advantage of senior financing if your current home is mortgage free, or nearly mortgage free. If your current home has sufficient equity you can convert part of that equity to cash with a Home Equity Conversion Mortgage (HECM). That cash can be used to purchase a great property here in St. George. This is the perfect option for many because it provides the flexibility of living in both places with no monthly mortgage payments. Northern Utah is experiencing rapid appreciation making it the right time to maximize your purchasing power here in St. George. You should be aware that if you buy a second home here and then decide (as many do) to make it your new primary residence, you will be required to sell or refinance your old property within six months of moving here since it is no longer your primary residence.
If you want to know more about how you can purchase a great home in St. George using one of the senior financing options, please call me today at 435-669-0009. Of course, I always recommend that you consult your tax and/or investment adviser before obtaining any home loan to ensure you are making the right decision for your situation.
Veritas Funding (NMLS#252108) is an Equal Housing Lender. This is not an offer of credit or commitment to lend. Loans are subject to buyer/property qualification.