American Advisors Group has become an approved reverse mortgage lender for United Real Estate, a nationwide real estate franchise. The partnership is intended to boost United's presence in the HECM for Purchase space.
As an approved lender, AAG will help to educate United’s agents on reverse mortgages as an additional financing source for home purchases, according to a news release. The HECM for Purchase loan lets borrowers 62 and older combine a reverse mortgage with the equity from the sale of a previous home – or other assets – to buy their next home.
“We’re proud to work with United Real Estate’s agents to deepen their knowledge about this critical product specifically designed for their senior clients’ needs,” said Jesse Allen, senior vice president of AAG’s national field sales team. “AAG will provide United with our comprehensive product training and support resources, helping them personalize the senior purchase experience.”