Can I Buy A House With A Reverse Mortgage Page

: The balance is only repaid when the last borrower moves out, sells the home, or passes away. Eligibility Requirements

This federal program allows seniors to buy a new primary residence and secure a reverse mortgage in a single transaction. How Buying with a Reverse Mortgage Works can i buy a house with a reverse mortgage

: The HECM loan covers the remaining balance. : The balance is only repaid when the

: You typically contribute 45% to 62% of the purchase price from your own funds (often from the sale of a previous home). : You typically contribute 45% to 62% of

To qualify for a HECM for Purchase, you must meet strict federal guidelines: Can I use a reverse mortgage loan to buy a home?

: You are not required to make monthly mortgage principal or interest payments for as long as you live in the home as your primary residence.