Reverse Mortgage Specialist | Helping Homeowners 55+ Unlock Retirement Income | Trusted Advisor to Financial & Legal Pros | Speaker & Educator
The 6.7% Mortgage Rate Problem
Today’s average 30-year mortgage rate hovers around 6.72%, a stark contrast to the sub‑3% rates many seniors locked in years ago. As coastal homeowners age, this “rate lock” can trap them in a home that no longer fits their needs—or their retirement plan.
Already, 31% of homeowners aged 65 to 79 still carry mortgages—a sharp increase from just 24% in 1989. With rising costs, many feel stuck.
Why Downsizing Feels Risky Now
Downsizing used to be a reliable path to financial freedom. Sell your $2M home, buy a $1.5M house, pocket the equity—and simplify life.
But swapping a 2–3% mortgage for a 6–7% one changes the math—and the emotions.
That’s why financial experts now caution: look beyond the mortgage. Consider taxes, insurance, maintenance, HOA fees—and even harder-to-quantify costs like moving stress.
Many clients think, “Maybe I’ll just stay put.” But that often means sacrificing the lifestyle they built—and deserve.
Your Better Path: The Lifestyle Home Loan
That’s where the FHA-insured “HECM for Purchase”, aka the Lifestyle Home Loan, comes in.
Key benefits for clients Age 55+ in Marin and beyond:
– No new monthly mortgage payments*, free up cash for other needs and wants
– Keep your housing wealth working for you. Buffer market volatility for long term growth
– Avoid tapping retirement savings when values are in decline; use your FHA credit line while stocks recover
– Align with desired lifestyle—newer, low maintenance home, simpler life, local community
MJ’s Smart-Start 3-Step Process:
– Full Housing Cost Breakdown We evaluate current mortgage, property expenses, and the emotional costs of staying vs. making a move.
– Creative Downsize Blueprint We structure a combined home-equity + reverse-mortgage purchase—so clients can right-size without using all their sale proceeds, or taking on a monthly loan obligation.
– Guided Execution With HUD counseling, Realtor coordination, and pre-underwriting, we move fast—typically closing in 30 days or less.
Why This Matters—Now:
Protect your retirement Nest Egg from monthly payments* that could derail financial plans and future cash flow
Avoid a mortgage maze—keep more money in your pocket for fun and care needs
Live fully: right-sized homes, new hobbies, and secure years ahead
Ready to Help Your Clients Rewrite Their Story?
If your seniors are saying:
“I’d love to downsize, but where will I go? Can I afford the home I really want?”
“I don’t want to use all of my sale proceeds or tap savings just to move.”
“I want local, walkable, low-maintenance living.”
…then let’s talk. This tool could be life-changing—for them, and for your business.
(415) 259‑4979 | [email protected] | maryjolafaye.com
*Reverse mortgage borrower must occupy home as primary residence and remain current on property taxes, homeowner’s insurance, the costs of home maintenance, and any HOA fees.
Mary Jo Lafaye, NMLS ID 246222. Mutual of Omaha Mortgage, Inc. dba Mutual of Omaha Reverse Mortgage, NMLS ID 1025894. 3131 Camino Del Rio N 1100, San Diego, CA 92108. Licensed by the Department of Financial Protection & Innovation under the California Residential Mortgage Lending Act, License 4131356. These materials are not from HUD or FHA and the document was not approved by HUD, FHA or any Government Agency. Subject to credit approval. For licensing information, go to: www.nmlsconsumeraccess.org
Equal Housing Lender