Loan Program
HECM for Purchase
Reverse mortgage purchase loans for buyers age 62+.
Overview
The HECM for Purchase program allows buyers 62 and older to purchase a primary residence using reverse mortgage proceeds — no monthly mortgage payment required (taxes, insurance, and upkeep still apply).
Key Benefits
- No monthly mortgage payment
- Right-size or relocate in retirement
- Preserve retirement assets
- Non-recourse loan (FHA-insured)
Qualification Highlights
- Youngest borrower age 62+
- Property must be primary residence
- Required down payment (45–65% range typically)
- Counseling certificate required
Frequently Asked Questions
Yes — title remains with you. The loan is repaid when the home is sold or the last borrower leaves.
Questions about HECM for Purchase?
A licensed loan officer will walk you through your options — no obligation.