If you're 62+, the HECM for Purchase program lets you buy a new home with a reverse mortgage — combining a down payment with HECM proceeds. No monthly mortgage payments required. Own the home just like any other purchase. Dream Financial Management since 1994.
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Buy your next home with a reverse mortgage — no monthly payments, full ownership, and flexible down payment options.
With a HECM for Purchase, you put down 45-65% of the purchase price (depending on your age) and the reverse mortgage covers the rest — with no monthly mortgage payments. You own the home, keep the title, and only repay the loan when you move, sell, or pass away — just like a standard reverse mortgage. The down payment comes from the sale of your previous home, savings, or other sources.
Example Purchase Price
$400,000
Down Payment (Age 72)
~55%
HECM Covers
~45%
No mortgage payment ever required. You live in the home without the burden of monthly housing costs.
The home is in your name. You keep the title, live in it, and it's yours just like any traditional purchase.
Fund your down payment from the sale of your current home, savings, retirement accounts, or gifted funds from family.
Downsizing or relocating? Move to a new primary residence without taking on a traditional mortgage.
Use the HECM to cover most of the purchase price, keeping more of your nest egg available for retirement.
The HECM for Purchase loan can close at the same time as your new home purchase — a smooth, single-transaction process.
You (or the youngest borrower) must be at least 62 years old.
The home must be your primary residence — not a vacation or investment property.
Mandatory counseling session to ensure you fully understand the loan terms.
Demonstrate ability to pay property taxes, insurance, and maintenance.