Product · HECM for Purchase
Buy a new home with a HECM — one transaction, no mortgage payment.
HECM for Purchase combines a reverse mortgage with a home purchase in a single transaction. Use the sale proceeds from your current home (or other cash) plus a HECM to buy your new home — and never make a monthly mortgage payment on it.
When HECM for Purchase makes sense
HECM for Purchase is most often the right tool in three scenarios:
- Downsizing. You sell a larger home you no longer need and want to move to something smaller, single-story, lower-maintenance — without taking on a monthly mortgage payment.
- Relocating. You want to move closer to adult children, grandchildren, or healthcare — and the cost of the new home is higher than you can pay cash for, but you don't want a traditional mortgage.
- Right-sizing for aging in place. You're moving to a home that's more accessible (single-story, walk-in shower, near transit) and want to preserve liquid assets for healthcare and travel.
The mechanics: you contribute a down payment (typically 45–70% of the purchase price, depending on your age), and the HECM funds the rest. You own the home, hold the title, and have no required monthly mortgage payment for as long as it remains your primary residence.
Thinking about a move?
Let's see what HECM for Purchase looks like for your specific situation. I'll run the numbers on both the home you're leaving and the home you're buying.