Buy a Home with a Reverse Mortgage.

We look forward to speaking with you today and helping you buy a home with a Reverse Mortgage - using the HECM for Purchase loan program. Our free Reverse Mortgage QuickQuote does not require a credit inquiry.

What is a HECM for Purchase?

A Home Equity Conversion Mortgage (HECM) for Purchase is a Reverse Mortgage that allows borrowers age 62 or older, to purchase a new principal residence using loan proceeds from the Reverse Mortgage.

Who is Best Suited to Utilize HECM for Purchase?

HECM for Purchase is best for those who are age 62+ and:

• Ready to downsize, upsize, move closer to family, move to a low-maintenance community, a more convenient neighborhood, or finally buy their “dream house”—and don’t want to take on a required monthly mortgage payment.
• Live on a fixed income.
• Concerned about being able to afford a new home via a cash purchase or traditional financing; and/or want to avoid tapping into your retirement nest egg.
• Your current home no longer fits your lifestyle — for example, the washer and dryer are on the wrong floor; the yard is too much to take care of; you need or prefer a one-floor living situation. You want a new home that’s a better fit for your physical needs.
• You want to increase your purchasing power to buy the home you really want, with the amenities you need or desire.
• You want to preserve some cash proceeds from the sale of your home as cash reserves or other retirement savings.

If you want to find out more information about a HECM for Purchase, please fill out the Quote Form or give us a call today at 970-222-0816.