Reverse Mortgage for Purchase

Explore Buying Your Next Home With a Reverse Mortgage.

Eligible buyers may combine approved funds with a HECM or proprietary reverse mortgage to purchase a primary residence.

No required monthly principal-and-interest payments while applicable loan obligations are met. Borrowers remain responsible for applicable property taxes, homeowners insurance, other property charges, maintenance and occupancy requirements. The loan balance generally grows over time as interest and applicable fees accrue.

Serving homeowners across multiple states

HECM and Proprietary Purchase Options

No Pressure. No Sales Tactics.

Free Consultation

What is Reverse Mortgage for Purchase?

A Smarter Way for Seniors to Buy a Home

A reverse mortgage for purchase is a way to buy a primary residence using eligible reverse mortgage proceeds and approved buyer funds. HECM for Purchase is the FHA-insured option. Proprietary purchase programs have separate eligibility and transaction requirements.

Repayment is governed by the loan terms, including occupancy and other obligations. Sale, specified occupancy changes, death or failure to meet obligations may make the loan due, subject to applicable co-borrower and spouse protections.

This Program May Be Right for You If:

You meet the selected program’s age and eligibility requirements.
You want to downsize, relocate, or move closer to family
You'd prefer to preserve savings and investments
You want to explore options without required monthly principal-and-interest payments
You plan to make the new home your primary residence
Your current home has substantial equity (from sale or savings)

Step-by-Step

How the Reverse Mortgage for Purchase Works

Specialized Reverse Mortgage Programs for buying, refinancing, and unique property types. Serving homeowners across multiple states.

Consult with Us

We review your goals, age, credit, income, and current home equity to determine if Reverse Mortgage for Purchase is a fit.

Applicable Counseling

HECM for Purchase requires independent HUD-approved counseling. Proprietary counseling requirements depend on the program and applicable law.

Choose Your Home

Choose a primary residence that meets the selected program’s property requirements. FHA standards apply to HECM purchases; proprietary eligibility varies by program.

Why It Works for Seniors

Key Benefits of Reverse Mortgage for Purchase

Reverse mortgage purchase options may help eligible homeowners align a home purchase with their housing and financial goals.

No Required Monthly Principal-and-Interest Payments

You Keep Full Ownership

You remain on the title. The lender never owns your home. Your estate keeps any remaining equity after the loan is repaid.

Preserve Your Retirement Savings

Using a reverse mortgage for purchase may leave more funds available than an all-cash purchase. Required buyer funds, closing costs and the growing loan balance should be weighed against your goals.

FHA Insurance for HECM Purchases.

HECM for Purchase is FHA-insured and follows HUD requirements. Proprietary purchase programs are private products and are not FHA-insured.

Move Closer to Family or Downsize

Relocate to a better climate, move near grandchildren, or right-size into a more manageable home — on your terms.

Non-Recourse Loan Protection

HECM for Purchase includes non-recourse protections under FHA rules. Review proprietary loan documents for the selected program’s repayment protections.

Eligibility Requirements

Do You Qualify?

Reverse mortgage purchase eligibility depends on the selected program, borrower, property and transaction requirements.

Not Sure If You Qualify?

Every situation is different. The best way to find out is a simple, no-obligation conversation. We’ll review your situation and give you an honest answer — no pressure, no sales pitch.

1 Age

Borrowers must meet the selected program’s applicable age and eligibility requirements.

2 Residence

The purchased home must be your primary residence — not a vacation property or investment.

3 Property

Subject to applicable program standards.

4 Down Payment

Required buyer funds depend on the selected program, applicable age factors, property value or purchase price, interest rates, closing costs and available proceeds. A transaction-specific review determines the amount and acceptable sources.

5 Financials

You must demonstrate the ability to pay ongoing property taxes, homeowner's insurance, and maintenance costs.

6 Counseling

HECM counseling is required; proprietary requirements vary.

Common Questions

Frequently Asked Questions

We want you to feel fully informed and confident. Here are the questions we hear most often.

Who owns the home, and what happens when I pass away or move out?

You retain title, subject to the mortgage and loan obligations. When repayment is triggered, the servicer explains applicable deadlines, extensions and options. HECM repayment and spouse protections follow FHA rules; proprietary provisions depend on the loan terms and applicable law.

How much down payment do I need?

Required buyer funds depend on the selected program, applicable age factors, property value or purchase price, interest rates, closing costs and available proceeds. A transaction-specific review determines the amount and acceptable sources.

Can I use the proceeds from my current home sale as a down payment?

Yes — this is one of the most common scenarios. Many seniors sell their existing home, use a portion of the equity as a down payment on the new reverse mortgage purchase, and keep the remaining proceeds for retirement savings or living expenses. It’s a powerful strategy for preserving financial security.

What types of homes are eligible?

Eligible property types vary by program. HECM purchases must meet FHA requirements; proprietary purchases follow the selected lender’s property standards. The home must meet applicable occupancy requirements.

Where can I find licensing information?

Licensing information is available through NMLS Consumer Access and our Licensing & Disclosures page.

Free Consultation

Ready to Learn Your Options?

No obligation. No pressure. Just a straightforward conversation
about whether Reverse Mortgage for Purchase makes sense for your situation.

Schedule Your Free Consultation

Share your contact info and we’ll reach out at a time that works best for you.