| Client Profile |
Age: 65-85 Health: Reasonably good health in order to meet insurance underwriting requirements. |
|---|---|
| Acceptable Property Types | Primary residence, secondary residence, residential investment property. |
| Option Payment Range | Typically 10-15% of initial appraised value if one qualified owner participates; and 20-30% for two qualified owners. |
| Property Values | Minimums vary by state (typically ranging between $350,000 and $500,000). |
| Property Locations | See coverage map. |
| Loan-to-Value Ratio | 80% maximum loan-to-value ratio if one qualified owner participates; 70% for two qualified owners. |
| Occupancy Requirements | None |
| Non-Applicant Owner Requirements | All owners as listed on title to the property must agree to and sign the EquityKey agreement. |
| Origination Fees | $300 application fee. Client will be reimbursed if deal funds or if they are not able to qualify. |
