HECM for Home Purchase

Today’s retiree wants to enjoy the best possible lifestyle without having the additional concern of spending all their retirement savings.

Imagine the impact for your client if you could:

  • Help Them Purchase Their RightSized™ Home…while at the same time
  • Increasing their Cash Flow,
  • Decreasing their Expenses and
  • Adding $250,000 Back into their Retirement Savings

{Case Study} A Simple Way To Add $200,000 Back into Retirement Savings

Click HERE for HECM For Purchase Articles

Want to See some Real People who Did the HECM for Purchase –
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The HECM for Purchase (H4P) is now regarded as one of the most important advancements in utilizing the HECM program.  It has been reviewed by the Wall Street Journal, Forbes, Kiplinger Personal Finance, the Boston Center for Retirement Research, and many others.

It can be a retirement income game changer, and the ELITE advisor must know how to use this powerful tool.

Join recognized Reverse Mortgage Expert, Don Graves, RICP®, Adjunct Professor at the American College, as he brings 17 years worth of practical case studies and academic research that demonstrate how the prudent use of the housing asset can dramatically improve retirement outcomes.

You may be able to use a HECM for Purchase reverse mortgage loan to buy your next home. Some eligibility requirements are:

  • That at least one spouse be 62 years or older
  • The purchased home will be occupied within 60 days of closing
  • The purchased home must be your primary residence
  • The difference between the purchase price of the home and the HECM proceeds will be paid in cash from the sale of an existing home or another source of eligible funds
  • Gift funds may be an acceptable form of down payment, however certain restrictions may apply
  • If the homeowner is using cash, the cash must be seasoned for 60 days
  • There must be proof that the homeowner has “eligible funds” from qualifying sources for the closing. Depending on the source of funds, specific documentation may be required.
  • Single family home
  • Multi-family owner occupied homes (up to four units maximum, must meet FHA approval)
  • FHA approved condominiums
  • Cooperatives (must meet FHA approval)
  • Newly constructed principal residences where a Certificate of Occupancy or equivalent has not been issued by the appropriate local authority
  • Manufactured homes (must meet FHA guidelines)
  • Property must meet FHA’s minimum property requirements
  • Critical health, safety and structural integrity issues must be repaired
  • Repair set-asides are not permitted with the HECM for Purchase
  • The buyer cannot pay for any repairs before they own the home
  • The repairs must be included in the purchase agreement
  • All major home repairs must be completed by the property seller before the loan can close

[Download: H4P Home Buyers Guide]

Special Restrictions

The property must be a primary residence and can be


With a HECM for Purchase loan the usual costs associated with selling and buying a property will apply as well as the fees associated with a reverse mortgage loan