{"id":625,"date":"2017-02-03T00:00:00","date_gmt":"2017-02-03T00:00:00","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/buy-a-home-with-no-monthly-payments\/"},"modified":"2018-01-02T20:56:20","modified_gmt":"2018-01-02T20:56:20","slug":"buy-a-home-with-no-monthly-payments","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/buy-a-home-with-no-monthly-payments\/","title":{"rendered":"Buy a Home With No Monthly Payments?"},"content":{"rendered":"<p>Reverse mortgages for purchases have been around a while but they stand to see more use as younger baby boomers hit retirement age. The mortgages are backed by FHA and they let households <strong>buy a home without having to make monthly <a href=\"https:\/\/amazingproperty.com.ng\/blog\/mortgage-preapproval-guide-for-home-buyers\/\">mortgage<\/a> payments<\/strong>. Instead, buyers put up a fairly sizable down payment and finance the rest with the reverse mortgage. The monthly payments then come out of the reverse mortgage each month, freeing up money for households to save or spend on other things. Of course, when they go to sell the house or refinance the mortgage, the <a href=\"https:\/\/amazingproperty.com.ng\/blog\/get-quick-loan-for-real-estate-investment\/\">funds<\/a> taken out of the mortgage to make the monthly payments count as a negative against the equity in the house.<\/p>\n<div>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/tyVRhBi6l6g?list=PLJ8nxcZniP615YRvvEv_hNnjWnTMenmY5\" width=\"400\" height=\"220\" frameborder=\"0\" scrolling=\"no\" align=\"right\" allowfullscreen=\"allowfullscreen\"><\/iframe>Given the possibility that older buyers could come to <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">real estate<\/a> practitioners with questions about how these work, the mortgages are explored in the latest<a href=\"http:\/\/realtormag.realtor.org\/news-and-commentary\/briefs\/article\/voice-for-real-estate\"> Voice for Real Estate<\/a> news video.<\/p>\n<p>The video also looks at the confirmation process of Ben Carson to be secretary of the U.S. Department of <a href=\"https:\/\/amazingproperty.com.ng\/blog\/sell-your-home-online-fast\/\">Housing<\/a> and Urban Development. In testimony before the Senate Financial Services Committee, Carson said he supports the opportunity of all Americans to buy a home and that preservation of the 30-year, fixed-rate mortgage should remain a part of the market. He also said he supports a federal backstop in the secondary mortgage market although he also wants to cultivate more private options.<\/p>\n<blockquote><p>Carson\u2019s nomination has passed the Sensate Financial Services Committee and now awaits passage by the full Senate.<\/p><\/blockquote>\n<p>The video also looks at the 10-year high in existing-home sales markets saw last year and what stands in the way of continued strong sales: inventory shortages and rising interest rates.<\/p>\n<p>Also in the video is a look at what happens next now that the Trump Administration has suspended the planned reduction in the mortgage <a class=\"wpil_keyword_link\" href=\"https:\/\/amazingproperty.com.ng\/blog\/what-us-insurance-companies-offer-the-best-workers-compensation-insurance\"   title=\"insurance\" data-wpil-keyword-link=\"linked\">insurance<\/a> premium on FHA <a href=\"https:\/\/amazingproperty.com.ng\/blog\/fast-flexible-real-estate-loans-usa\/\">loans<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<p><a>Realtors <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reverse mortgages for purchases have been around a while but they stand to see more use &hellip; <a title=\"Buy a Home With No Monthly Payments?\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/buy-a-home-with-no-monthly-payments\/\"><span class=\"screen-reader-text\">Buy a Home With No Monthly Payments?<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":626,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[4751,518,1403,534,15239,625,1330,12908,543,215,248,617,698,604,408,312,41,818,84,479,842,4750],"class_list":["post-625","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-amazing","tag-america","tag-buy","tag-buy-a-home","tag-chase","tag-down-payment","tag-financial","tag-home","tag-home-buying-guide","tag-home-sale","tag-home-sales","tag-house","tag-insurance","tag-loans","tag-mortgage","tag-mortgages","tag-property","tag-real","tag-real-estate","tag-realtor","tag-trump","tag-youtube"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":8424,"url":"https:\/\/amazingproperty.com.ng\/blog\/much-more-to-mortgages-than-interest-rates\/","url_meta":{"origin":625,"position":0},"title":"Much More to Mortgages Than Interest Rates","author":"Amazing Property","date":"February 26, 2018","format":false,"excerpt":"There's a significant consumer misconception that mortgages are all about interest rates. Find the lowest rate and you've got a great mortgage. Wrong. Yes, the sign-up interest rate can be important, but there is a lot more to consider. The many factors and decisions involved in mortgages determine what the\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"21a8964d6722dd60fe12f91dd284f041 S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/21a8964d6722dd60fe12f91dd284f041_S.jpg?fit=424%2C274&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":3023,"url":"https:\/\/amazingproperty.com.ng\/blog\/understanding-adjustable-rate-mortgages\/","url_meta":{"origin":625,"position":1},"title":"Understanding Adjustable Rate Mortgages","author":"Amazing Property","date":"April 5, 2017","format":false,"excerpt":"Question. We are shopping around for a mortgage for our first home and are confused about the many loans that seem to be available. Interest rates are low, real estate appears to be picking up again, and the adjustable rate mortgage is of interest to us. We do not understand\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/04\/d6a3a02f587092a1a7e0a7f6242f226a_M.jpg?fit=300%2C200&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":2017,"url":"https:\/\/amazingproperty.com.ng\/blog\/what-is-a-reverse-mortgage\/","url_meta":{"origin":625,"position":2},"title":"What Is a Reverse Mortgage?","author":"Amazing Property","date":"March 18, 2017","format":false,"excerpt":"\u00a0 By American Advisors Group As you pull into your driveway and up to your garage, you take a good long look at your house.\u00a0 The fresh exterior paint you had applied about a year ago still glistens in the sun, and the roof shingles you had installed still sit\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/what-is-a-reverse-mortgage-final.jpg?fit=800%2C488&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/what-is-a-reverse-mortgage-final.jpg?fit=800%2C488&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/what-is-a-reverse-mortgage-final.jpg?fit=800%2C488&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/03\/what-is-a-reverse-mortgage-final.jpg?fit=800%2C488&ssl=1&resize=700%2C400 2x"},"classes":[]},{"id":3778,"url":"https:\/\/amazingproperty.com.ng\/blog\/will-lower-rates-create-buyer-frenzy\/","url_meta":{"origin":625,"position":3},"title":"Will Lower Rates Create Buyer Frenzy?","author":"Amazing Property","date":"April 24, 2017","format":false,"excerpt":"Mortgage rates have dropped below 4 percent for the first time since November, and home buyers likely will want to take advantage of the lower borrowing costs. 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The builder has recommended we use a particular lender, and\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"9548103effb7415db90cbf503c0e7903 S.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/05\/9548103effb7415db90cbf503c0e7903_S.jpg?fit=424%2C274&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":4601,"url":"https:\/\/amazingproperty.com.ng\/blog\/hey-millennial-go-buy-a-house-9-reasons-to-stop-paying-rent-today\/","url_meta":{"origin":625,"position":5},"title":"Hey Millennial, Go Buy a House! 9 Reasons to Stop Paying Rent Today","author":"Amazing Property","date":"May 17, 2017","format":false,"excerpt":"Go Buy a House! 9 Reasons to Stop Paying Rent Today . Still unsure about whether or not you should buy a house? It's a big commitment, obviously, and not just from a financial standpoint. But the rewards generally far outweigh any potential downsides for those who take the plunge.\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Go Buy a House","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/05\/4417.jpg?fit=448%2C298&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"jetpack_featured_media_url":"https:\/\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/02\/YvCwRRlzdOs","_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/625","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=625"}],"version-history":[{"count":1,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/625\/revisions"}],"predecessor-version":[{"id":89815,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/625\/revisions\/89815"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/626"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=625"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=625"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=625"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}