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Legacy

Seeing their legacy in action now

Overview

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Martin and Barbara, both 80, have felt very fortunate throughout their lives. They own their home and have more than enough to live comfortably in their retirement. They enjoy their time at home, volunteer in the community, and build lasting memories with family and friends.
They adore their two grandchildren, Sara and Mike. Sara is just beginning college at their beloved alma mater, and Mike has been struggling to get his new business off the ground. Martin and Barbara have planned well, both for their own needs and for their heirs, but they realize how much good their legacy could do now with a proprietary reverse mortgage.

Martin and Barbara have $793,245 cash available to them at closing.

They choose to receive $250,000 as a lump sum to immediately invest in Mike’s business and fund 3 years of Sara’s tuition and living expenses. The remaining $543,245 will be disbursed to Martin and Barbara’s alma mater as they desire over the next 10 years.
Illustration is for educational purposes only and reflects a home value of $1,850,000 with an initial interest rate of 9.74% and expected interest rate of 9.74%. Closing costs are $17,570 ($0 for Mortgage Insurance Premium, origination fee is $0, and other costs $4,105). Rate quote generated on 2/15/2023.
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