High demand for the HomeSafe products has driven the expansion, says FAR president
Finance of America Reverse (FAR) has announced that the company’s proprietary HomeSafe suite of products is now available in Hawaii, Texas, and Colorado.
With the expansion, homeowners in these states will be able to access HomeSafe Select, which provides a line of credit of up to $4 million depending on the value of the property. Additionally, FAR has made HomeSafe Flex and HomeSafe Second available to qualified borrowers in Colorado.
“Demand for our proprietary HomeSafe products was incredibly high last year,” said FAR President Kristen Sieffert. “Qualified homeowners with million-dollar properties are responding quite favorably to the flexibility that these products afford them when building a well-balanced retirement plan. We have an ambitious roadmap for bringing HomeSafe to new markets across the US, and I am confident that our new offerings will be received with the same enthusiasm we’ve seen in existing markets.”
The number of retirees in Hawaii has continued to grow, with one in four residents in Hawaii set for retirement, according to FAR. Texas has the third-largest senior population in the country, while Colorado’s elderly population is projected to increase 61% by 2030.