Lancaster Association of REALTORS®

Most people think of a reverse mortgage as a way for homeowners to access the equity they've built in their current home. While that's certainly true, many Realtors are surprised to learn that a reverse mortgage can also be used to purchase a new home. What Is a Reverse Mortgage? A reverse mortgage, also known as a Home Equity Conversion Mortgage (HECM), is an FHA-insured loan available to homeowners age 62 and older. Instead of making monthly mortgage payments, eligible borrowers can use a portion of their home's equity to eliminate an existing mortgage, establish a line of credit, receive monthly payments, or simply improve cash flow. Borrowers remain responsible for paying property taxes, homeowners' insurance, maintaining the home, and continuing to occupy it as their primary residence. What Is a Reverse Mortgage for Purchase? A HECM for Purchase allows qualified buyers age 55 and older to purchase a new primary residence using a substantial down payment and a reverse mortgage—without the obligation of monthly principal and interest payments.* This program can be an excellent solution for: Buyers looking to downsize. Retirees relocating closer to family. Homeowners moving into a 55+ community. Clients seeking a home that better fits their retirement lifestyle. Buyers who want to preserve more of their retirement savings or investment assets. Instead of paying all cash for a home, buyers can finance part of the purchase through a reverse mortgage, allowing them to keep more of their liquid assets available for future needs. Why Realtors Should Know About This Program A Reverse Mortgage for Purchase can help clients: Increase purchasing power. Improve monthly cash flow. Preserve retirement savings. Purchase a home that better meets their long-term needs. Age in place more comfortably. For many older buyers, this financing option can make the difference between settling for a home and purchasing the one that truly fits their retirement goals. If you work with clients who are 55 or older, a Reverse Mortgage for Purchase may be worth exploring before they write an offer. *Borrowers must continue to pay property taxes, homeowners insurance, maintain the property, and occupy the home as their primary residence. The amount available depends on factors including the youngest borrower's age, current interest rates, and the home's value. Facts, opinions and information expressed in the Blog represent the work of the author and are believed to be accurate but are not guaranteed. The Lancaster County Association of Realtors is not liable for any potential errors, omissions or outdated information. If errors are noted within a post, please notify the Association. Posts represent the author's opinion and are not necessarily the opinion of the Association.

Whew! If you're anything like me, you blinked and somehow July is already halfway over. That also means we've officially crossed the halfway mark of the year. How’s business treating you? Maybe your year is right on track; if so - congrats! If you're holding your breath waiting for your transaction numbers to suddenly align with the goals you set in January, it's time to stop waiting and start resetting. It’s never too late! The beauty of this business is that January doesn't have a monopoly on fresh starts. In real estate, momentum can change surprisingly quickly. One listing can become three referrals. One conversation can lead to a transaction. The second half of the year has the potential to look completely different from the first. The key isn't wishing for a better year. It's changing what you do next. One of the most important mindset shifts an agent can make is to treat their business like a business. Business owners don't simply hope for better results. They create a plan, track meaningful metrics, review what's working, and adjust when needed. Your real estate business deserves the same level of intention. When you start thinking like the CEO of your business instead of just the salesperson in it, your daily decisions begin to change, and so do your results. So where to start? Ask yourself: How many meaningful conversations am I having each week? How consistently am I following up with past clients and leads? Am I asking for referrals? Am I visible in my community and online? Am I blocking time every day for lead generation? Many of us focus on results we can't control: closings, commission checks, or contracts signed. Instead, focus on the activities that create those results. Results lag behind consistent action. If you improve the actions, the numbers usually follow. Choose one or two meaningful goals for the next 3 months. Then identify the handful of weekly actions that move those goals forward. For example: Reach out to 5 people a day. Schedule three coffee meetings with your sphere. Host one open house every weekend. Post valuable content three times a week. Write five handwritten notes every Friday. Consistency beats intensity every time. Your calendar tells the truth. Look back at the last two weeks. How much time was spent on activities that directly grow your business? Admin work is necessary, but revenue producing activities deserve protected time on your calendar. While time blocking is considered a “bad” word to many, being in control of your time allows you to control your business. Schedule lead generation before you schedule anything else. Pick an accountability partner and share your weekly action plan with each other. Commit to checking in regularly and holding one another accountable for following through. Celebrate the wins along the way. When you accomplish the actions you set out to complete, reward yourself, even if it’s just an iced coffee with your accountability partner. Above all, don’t let a negative mind set deter you from forward momentum. Start small. Do the work. Finish big. Here’s to a successful 2026! "Success looks a lot like failure up until the moment you break through the finish line." – Dan Waldschmid “Today is always the most productive day of your week." – Mark Hunter