I specialize in reverse mortgages. A purchase reverse mortgage will be issued at 50% to 65% of the purchase price, based primarily on the age of the youngest borrower, as well as some limitations on purchase price and property condition.
The LTV is based on the age of the youngest borrower. Here's FHA's link to a reverse mortgage calculator.. fill in your specific info, and you will see what your max LTV is for your specific scenario. http://www.reversemortgage.org/About/ReverseMortgageCalculator.aspx I'm a Broker here in Scottsdale AZ and I only lend in Arizona. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. William J. Acres, Lender411's number ONE lender in Arizona. 480-287-5714 WilliamAcres.com
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