Most, but not all, reverse mortgages today are federally insured through the Federal Housing Administration’s Home Equity Conversion Mortgage (HECM) Program. This advertisement talks about HECM loans only.

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Buy a Home With a Reverse Mortgage

Note: Not available in all areas. Contact your reverse mortgage planner for more details.

Discover the HECM for Purchase Loan

If you are 62 years or older, the HECM for purchase loan may help you buy your next home without required monthly mortgage payments, except for taxes, insurance, and general maintenance. The HECM for purchase is a reverse mortgage insured by the Federal Housing Administration (FHA) that allows seniors to use the equity from the sale of a previous residence to buy their next primary home in one transaction. Regardless of how long you live in the home or what happens to your home’s value, you only make one initial investment (down payment) towards the purchase.

A HECM allows you to:

  • Build a new customized home
  • Purchase a primary residence suitable for your current needs
  • Purchase a home in senior housing community
  • Move into a new home that’s easily accessible with modern amenities
  • Downsize to a smaller, easier-to-maintain home
  • Relocate closer to friends and family members
Cindy's Reverse Story

Cindy, who is 62, is selling her home that is free and clear for $157,000 and wants to buy a lake home property close to her daughter. The Realtor® showed her three properties priced at $157,000 close to her daughter, but none of them were lake properties. The next day she drove around the lake on the way to her daughter’s house and saw an open house sign of what could be her dream home. The Realtor® talked to her as she showed her the granite kitchen, view of the lake, and the steps going down to the dock. Cindy told her she absolutely loved it but couldn’t afford the $300,000 price tag. The Realtor® told her, with a reverse mortgage, she may be able to make her dream come true!

Cindy's Reverse Stats

CLIENT IS ABLE TO BUY $300,000 DREAM LAKE HOME FOR $157,000 DOWN WITH NO MONTHLY MORTGAGE PAYMENTS OTHER THAN TAXES, INSURANCE, AND MAINTENANCE. House and story are for illustration purposes only. House may not be available for purchase.

Fred & Bernice's Reverse Mortgage Story

Fred and Bernice, who are both 75, are both avid golfers and want to purchase a house on a golf course. They currently live in a $130,000 house that is free and clear and are nervous about taking money out of their nest egg. They met with a Realtor® friend who recommended they sell their current house and use that money with a HECM for purchase to buy the property on the golf course they wanted.

Fred & Bernice Reverse Stats

CLIENT IS ABLE TO BUY A $300,000 GOLF COURSE HOME FOR $130,000 DOWN WITH NO MONTHLY MORTGAGE PAYMENTS OTHER THAN TAXES, INSURANCE, AND MAINTENANCE. House and story are for illustration purposes only. House may not be available for purchase.

James & Mary's Reverse Mortgage Story

James and Mary, who are 62 and 59, want to move to California to retire. They want to keep the same size of home they currently have but home values are more than double in California than where they live. A Realtor® recommended to them that with a reverse mortgage for home purchase, they could buy a house similar to the one that they currently live in.
NOTE: One spouse must be 62 years or older to be eligible for a reverse mortgage.

James & Mary's Reverse Stats

CLIENTS COULD SELL THEIR HOUSE FOR $320,000 AND PURCHASE A HOME IN SUNNY CALIFORNIA FOR $600,000. House and story are for illustration purposes only. House may not be available for purchase.

Norm's Reverse Mortgage Story

Norm, who is 75, was sitting at the coffee shop with some of his investment buddies. He wants to downsize his $300,000 property, and with the money, set up an annuity to help his grandchildren pay for college.*
*The information in this advertisement does not constitute financial planning advice. Please consult a financial planner regarding purchasing an annuity and your specific retirement plan.

Norm's Reverse Stats

CLIENT COULD DOWNSIZE HIS $300,000 HOME, PURCHASE A $150,000 HOUSE AND HAVE $233,000 TO SPEND ON AN ANNUITY. House and story are for illustration purposes only. House may not be available for purchase.

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