'Home Purchase' Category Archives

2025 Guide to Reverse Mortgage Purchase (HECM Purchase)

June 10, 2025 16 comments

Introduction to Purchase Reverse Mortgages Welcome to our guide on Purchase Reverse Mortgages! In this article, we will explain how you can buy a new home with a special kind of reverse mortgage, making it easier for you to transition to a new living situation as you age. Whether you are considering downsizing, moving to a more accessible home, or...
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The Realtor’s Guide to Reverse Mortgages for Home Purchase

April 15, 2025 2 comments

[arlo_toc] Why Realtors Should Understand Reverse Mortgages for Home Purchase The HECM for Purchase program (Home Equity Conversion Mortgage) is an FHA-insured loan that allows homebuyers aged 62 and older to purchase a new primary residence with no monthly mortgage payments. This benefits your senior buyers, helps your sellers move their listings, and ultimately helps you close more transactions. Yet...
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Here’s an Ideal Reverse Mortgage Purchase Example

July 12, 2024 5 comments

[arlo_toc] Understanding the Reverse Mortgage for Purchase Program Many seniors prioritize finding a home that suits their lifestyle as they retire. Whether they’re looking to downsize, rightsize, avoid stairs, or find a low-maintenance property, the Reverse Mortgage Purchase program—also known as HECM for Purchase or "H4P"—is a valuable option that’s often overlooked. If you’re 62 or older, this HUD-insured program...
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Purchase 2-4 Units with a Reverse Mortgage for Lifetime Cashflow

July 12, 2024 14 comments

[arlo_toc] Exploring Reverse Mortgages for Purchasing Multifamily Units If you’re retired and thinking about downsizing, moving closer to loved ones, or finding a more suitable living arrangement, the reverse mortgage purchase program might be a great option for you. This government-insured reverse mortgage is available to individuals aged 62 or older and allows you to use the equity in your...
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Using a Reverse Mortgage Purchase for New Construction

June 14, 2024 22 comments

Can a contractor build a new home for you and finance it with a reverse mortgage upon completion? Thank you -Bob The short answer to your question is, yes, you can. As a matter of fact, HUD has just made changes to the program effective in 2024 and made financing reverse mortgage purchases and new construction easier than ever...
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Reverse Mortgage Purchase FAQs (2025 Update)

March 24, 2024 3 comments

Q. What is a Purchase Reverse Mortgage? A Purchase Reverse Mortgage allows seniors aged 62 or older to buy a new primary residence using the loan proceeds from a Home Equity Conversion Mortgage (HECM). Q. What is the purpose of the program? The purpose of the Purchase Reverse Mortgage program is to allow seniors to buy a new primary residence...
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6 Reasons to Downsize (or Rightsize) with a Reverse Mortgage

October 19, 2023 no comments

As we grow older, our housing needs and preferences often change/evolve. The family home that once fulfilled all our needs and still holds a lifetime of memories may begin to feel impractical or burdensome as our family sizes and physical needs change. This is where downsizing, “rightsizing,” or even a move to a more advantageous location is often the best...
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10 Tips for Using a Reverse Mortgage for Home Purchase

August 30, 2021 2 comments

Are you planning to use a Reverse Mortgage Purchase? The following tips will be handy... The sale must be an “Arm’s Length Transaction, " meaning you must buy from a totally unrelated third party. Purchases involving family members are not eligible. Has the property recently sold? The property cannot have been sold less than 6 months prior to this...
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Reverse Mortgages for Purchase in Texas Now Approved!

November 16, 2019 2 comments

As the last state in the union to approve it, Texas voted in early November to allow the reverse mortgage for purchase product to be offered to its residents and those moving to the state. Texas has lagged behind other states that have long offered this type of reverse mortgage loan due to longtime homestead laws that place certain barriers...
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How to use a Reverse Mortgage for Home Purchase

May 14, 2019 8 comments

How to use a Reverse Mortgage for Home Purchase Many borrowers and real estate professionals have never used a reverse mortgage to purchase a home or been involved in a transaction where one was used. This promotes a bit of uncertainty on the part of real estate professionals, sellers and some buyers when it seems that the whole process is...
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