Evans Coghill Blog

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Enjoy A Home With No Monthly Payments – HECM Loan

Categories: Belmont, Financing, New Homes in Charlotte | Posted: August 19, 2019 | Comments Off on Enjoy A Home With No Monthly Payments – HECM Loan

If you are a baby boomer age 62 or older and wanting to move into a new home to be closer to the kids,  smaller yard, less maintenance, have more time for yourself we have the answer. Imagine a new home where everything works and is new. You will enjoy greater energy efficiency, a more comfortable home, new neighbors and have it just the way you want it. The best part is you will enjoy a very flexible payment schedule and, maybe, no monthly payment at all! This is the Home Equity Conversion Mortgage (HECM) for Purchase loan.

Here is How it Works –

Joyce is 65 years old. Many of her friends moved to a new, lifestyle community and Joyce was eager to join them. But she didn’t want to add the burden of a monthly mortgage payment—or to spend $350,000 in cash to buy the home free and clear. She was forced to consider less expensive homes nearby.

Fortunately, a friend told her about Reverse Mortgage for Purchase loans. Joyce discovered that with this option, she only needed to invest about 57% of the purchase price. This allowed her to upgrade to a more comfortable lifestyle and keep more of the money from the sale of her former home, while having the option of making no monthly principal and interest payments if she so chooses. (As with any mortgage, she must meet her loan obligations, keeping current with property taxes, insurance, maintenance and any homeowners association (HOA) fees.)  The exact down payment amount is based on your age and can come from the sale of your current home.

The Result

  • Joyce was able to move into the home that she wanted right away.
  • She kept significantly more cash from the sale of her previous home.

Watch: How a Home Equity Conversion Mortgage for Purchase Works (Video)

Read: (PDF) Evans Coghill Homes HECM Buyers Guide

Evans Coghill Homes builds new homes in McLean in Belmont NC. We have a collection of impressive homes with lots of options to make it just right for you. We are ready to show you your next home and help make it a reality with a HECM loan.

Model home is located at 1008 Overlake Dr, Belmont NC. Contact Paul Stanger here



Paul is All About the New Abbey Ranch Home Plan in Overlake McLean

Categories: Belmont, Floor plans, New Homes in Charlotte | Posted: August 17, 2019 | Comments Off on Paul is All About the New Abbey Ranch Home Plan in Overlake McLean

This new home plan, the Abbey, was a winner from the beginning. So much is just right about this home.

It is a ranch home, priced in the lower $300,000’s, has a study, vaulted ceiling family room, covered porches and a huge master closet. Join Paul as a he takes you through some of the highlights of this new home plan in McLean.

Come to visit our new model home at 1008 Overlake  Dr, Belmont NC 28012 to learn more about why the living is easier in an Evans Coghill home.

Abbey Floor Plan

#evanscoghilldifference #belmontnewhomes #ranchhome

What is Great about the Wylie Home Plan in Overlake Mclean

Categories: Belmont, New Homes in Charlotte | Posted: June 15, 2019 | Comments Off on What is Great about the Wylie Home Plan in Overlake Mclean

The Wylie home plan in McLean Overlake is so special. Paul Stanger shares some of what makes this home so great. Highlights are:

Walking distance to Daniel Stowe Botanical Gardens

Walking Trails (Carolina Thread Trail throughout the neighborhood)

Amenity Center one block away

Master Suite on Main Level

Quartz Countertop

White Kitchen with Large Island

25 Mins to Uptown Charlotte

15 Mins to Charlotte Airport

5 Mins to Future Neighborhood Marina

Ceramic Tile Baths

Covered Back Porch

Trey Ceiling in Master Suite

Hardwood Flooring

Gas Fireplace

Spacious Outdoor Living

Walk to Seven Oaks Cafe (in the neighborhood)

Model home at 1000 Overlake Dr, Belmont NC open daily in Overlake at McLean. More details about this home here

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