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Michael Bowers
Branch Manager | HECM Specialist | NMLS #61535
Cincinnati, Ohio | Mortgage
5.00 -
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About Michael Bowers
“I exclusively educate, teach, and originate the FHA HECM (H4P) for Purchase loan program to the benefit of Boomers,” says Mike Bowers of MUTUAL OF OMAHA MORTGAGE and Retirement Funding Solutions. He serves seniors who were born from 1946 – 1964 and offers them financing options and choices with the FHA HECM for Purchase (H4P) mortgage. Mike also educates attorneys, builders, CFPs, and real estate agents about the FHA HECM Programs. “Boomers have a housing need and not a housing want,” explains Mike. “Boomers are sitting on 8 trillion dollars of locked-up equity. The monthly expense of owning a home takes 1/3 of retirement income.” The H4P is a special home purchasing mortgage; it is a financing tool for the affluent middle class. Mike explains, “We do not use the three-digit credit scores or their debt to income ratios. We use the age of the youngest borrower and the value of the home. We have jumbo loan limits of up to $4,000,000 for the State of Ohio.” Mike, a fellow Boomer himself, adds, “We all seek a place to grow old with the respect and dignity that all retirees expect and hoped for one day!” He helps seniors do just that with the HECM (H4P) purchase mortgage.