Closer your dream of buying a property

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As a result of the current economic recession, for many it has become possible to buy an affordable residence, to the point that in many cases it is cheaper to pay a monthly mortgage than to rent a property.

With that in mind, the financial institution Senior Mortgage offers a series of financing packages guaranteed by the federal or local government, which will allow you once and for all to achieve the dream of living in your own home.

Senior Mortgage loan offers include 100% financing for a residence, for eligible buyers under the respective Rural Development programs of the federal Department of Agriculture or the Veterans Administration. The institution also finances up to 96.5% of the sale price for buyers approved by the Federal Housing Administration, as well as 98% of the loans guaranteed by the Housing Financing Authority, through Law 87-1965.

For people 62 years of age or older, Senior Mortgage offers the possibility of generating additional income through the reverse mortgage mechanism or reverse. Under this mechanism, owners of properties that are paid or owed less than 10 years are eligible.

“The good thing about the mortgage reverse is that you do not have to pay anything monthly and, if one of the two people were to be absent in a marriage, the other person can continue to live in the property without paying anything, ”explained Salomón Levis, Senior Mortgage’s financial advisor. Levis clarified that people do not relinquish ownership of the property when acquiring the reverse mortgage.

For more details about these offers, you can visit the Senior Mortgage offices in Los Altos de La Ceiba pastry shop on Roosevelt Avenue in San Juan, call 787-622-6262 or access seniormortgagepr.com.

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