Top-10 reverse mortgage lender Reverse Mortgage Funding, LLC, announced Monday that it will sponsor a National Association of Home Builders (NAHB) survey aimed at learning the housing preferences of America’s Baby Boomers.
Titled, “Housing Preferences of the Boomer Generation: How They Compare to Other Home Buyers,” the survey will present its results at the NAHB International Builders Show scheduled to take place January 19-21 at the Las Vegas Convention Center.
The survey will provide a unique look at the buying preferences of Boomers, RMF’s core customer, while serving as a title sponsor will help RMF strengthen its brand awareness at the national conference, which will include many of the largest homebuilders as well as leading economists and personal finance professionals, said RMF Chief Marketing Officer Jean Noble. Sponsoring the survey will also enable RMF to raise awareness of the HECM for Purchase.
“Our presence in this marquee event will serve to help these parties understand and appreciate how a Home Equity Conversion Mortgage for Purchase loan can increase the buying power of older Americans, providing them with the financial flexibility to purchase the home they really want, including the amenities they need or desire,” Noble said in a written statement.
The HECM for Purchase, or H4P, helps people age 62 and older purchase a new primary residence, giving them the flexibility to buy a new home an obtain a reverse mortgage, by combining a one-time investment of available funds with the loan’s proceeds to complete the transaction.
“With an H4P loan, homeowners are no longer forced to live in a residence or location they have outgrown,” Nobel said. “This program provides older Americans with the freedom to relocate to a new home of their choosing—whether it’s closer to their family and friends, easier to maintain, or in a climate that better suits their lifestyle—without having to tap into their nest egg.”
The survey will be conducted online in two phases using a consumer research panel maintained by Home Innovation Research Labs, a wholly-owned, independent subsidiary of NAHB.
The first phase of the survey will use screening questions to identify recent home buyers (who have bought a home in the last three years), as well as prospective buyers (those planning to buy a home in the next three years). The second phase will then involve a detailed questionnaire sent to participants identified in both buyer-types from phase one.
Written by Jason Oliva
