55places Enters Joint Venture Agreement with Retirement Funding Solutions
55places Mortgage provides financial alternatives to strengthen 62+ homebuyers' purchasing power
CHICAGO, May 22, 2019 /PRNewswire/ -- Buying a new home for retirement can be challenging, especially when met with financial obstacles. 55places.com, the number one resource for active adult communities in the United States, is simplifying an often complicated decision through its joint venture agreement with Retirement Funding Solutions, a division of Synergy One Lending, Inc., a leading mortgage provider owned by Mutual of Omaha Bank. The new enterprise, named 55places Mortgage, will increase homebuying capacity to those who are 62 years of age and older.
55places Mortgage will guide users through the home financing process, whether that's through traditional funding or Home Equity Conversion Mortgage (HECM) for Purchase financing. Options like The 62+ Loan™, an FHA-insured alternative to paying cash, allows homebuyers to make a one-time down payment from existing equity or savings, which can increase buying power and reduce out-of-pocket expenses.
55places and Retirement Funding Solutions began discussing a potential partnership in 2017 when the teams realized they had mutual customers. 55places.com provides extensive information for prospective homeowners who are looking to live in age-restricted and active lifestyle communities, and Retirement Funding Solutions provides mortgage solutions that are unique to homebuyers over 62 years old. Both companies understand the challenges buyers in this age group face and this partnership will enable 55places Mortgage to help more people buy a home in their desired community.
"Active adult communities offer amenities that meet a variety of interests, which helps create a support system in which retirees can build meaningful relationships and a sense of belonging," said Bill Ness, CEO and founder of 55places.com. "That type of lifestyle is desired by many and easily attainable with The 62+ Loan™. With no monthly mortgage payments, there's more financial flexibility for homeowners to choose where and how they want to spend—be it completing bucket lists, traveling, or treating grandkids."
"We are thrilled to partner with 55places and provide our HECM for Purchase expertise to this audience," said Alex Pistone, president of Retirement Funding Solutions. "This is an exciting opportunity to educate more active adult homebuyers and guide them to a mortgage that's best for them."
To learn more about how 55places Mortgage is helping 62+ homeowners, visit 55placesmortgage.com.
About 55places.com
55places is the number one resource for active adult communities in the United States. The website offers unbiased information, such as current home sale listings, photos, floorplans, descriptions, and third-party reviews for more than 2,000 age-restricted and active lifestyle communities across the country. 55places and its team of real estate agents are licensed experts equipped to help prospective residents find an ideal home in their dream community. For more information, visit www.55places.com.
About Retirement Funding Solutions
Retirement Funding Solutions is a division of Synergy One Lending, Inc., a wholly owned subsidiary of Mutual of Omaha Bank, and is an agency approved Seller/Servicer, licensed to conduct mortgage origination activities in 46 States. Synergy One Lending is strategically built to support and grow both retail and wholesale business channels, while operating under the brand Retirement Funding Solutions for its reverse mortgage lending activities. Synergy One Lending also does business as Mutual of Omaha Mortgage. For more information on Synergy One Lending, visit www.s1lending.com.
Contact:
Marissa Walters
773-278-5500
[email protected]
SOURCE 55places Mortgage
Related Links
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article