Buy your next home with a reverse mortgage.
A HECM for Purchase lets buyers 62 and older buy a new main home and take out a reverse mortgage in one closing.
- Free, With No Obligation
- No Credit Check to Start
- One Licensed Lender
- Straight Answers
Who It's For
Buyers 62 and older who want to move, for example to a smaller home or closer to family, and buy it with a reverse mortgage plus their own money.
What to Know
One Closing, Not Two
HUD designed the program so you can buy a new main home and get a HECM in a single transaction. At closing, the HECM's liens must be the only liens on the home.
Source: HUD, HUD Handbook 4000.1 (Update 18), II.B.8.a: HECM for PurchaseYou pay the difference
You put in the gap between what the HECM provides and the price, plus any fees you don't add to the loan. It can come from savings or from selling things you own, such as your current home.
Source: HUD, HUD Handbook 4000.1 (Update 18), II.B.8.a: HECM for PurchaseMove In Within 60 Days
Every borrower, and an eligible spouse who isn't on the loan, must move into the home within 60 days of closing. It must be your main home.
Source: Federal regulations, 24 CFR 206.39: Principal residenceWhich Homes Are Eligible
A one- to four-unit home where you live in one unit, a condo in a project on FHA's list, or a manufactured home. It can be an existing home or new construction.
Source: HUD, HUD Handbook 4000.1 (Update 18), II.B.8.a: HECM for PurchaseThe seller can help with costs
Sellers, agents and builders can pay up to 6 percent of the sales price toward your origination fee, other closing costs, prepaid items and the upfront mortgage insurance premium. The lender can't.
Source: HUD, HUD Handbook 4000.1 (Update 18), II.B.8.a: HECM for PurchaseThe usual HECM rules still apply
Borrowers must be 62 or older. You make no monthly mortgage payments, but you still pay property taxes and homeowners insurance and keep the home in good shape.
Source: CFPB, CFPB: What is a reverse mortgage?
How It Works
Answer a Few Questions
Where you're buying, your age, the home and your budget. About two minutes, with no contact details until the last step.
Get Matched With One Lender
We find one licensed lender in your state that offers HECM for Purchase, and show you its name first.
Hear From That Lender
If you choose to send your request, that lender reaches out. You decide what happens next.
Four Things You Can Check
The Lender's License
You see the lender's name and NMLS ID before you share your number. Anyone can look a lender up on NMLS Consumer Access.
Look Up a Lender's LicenseHow We Get Paid
Lenders pay us a flat fee when you ask to be contacted. You never pay us. The fee is the same whether or not you take out a loan.
Read How We Get PaidWho Gets Your Request
One lender, named on the form before you send it. Every lender who may get a request is listed with its NMLS ID.
See Our Lender PartnersOur Sources
Every guide ends with a list of its sources, such as HUD, the CFPB, Fannie Mae and Freddie Mac.
Browse the Guides
Common Questions
How much do I need to put in?
It depends on your age, the price and interest rates, because they set how much the HECM can provide. HUD calls the rest your monetary investment: the price less what the HECM provides, plus fees you don't add to the loan, minus your earnest money deposit. A lender works out the exact figure.
Can I keep the home I have now?
Yes, but the new home must be your main home, because a HECM borrower can have only one principal residence at a time. If you already have a HECM on your current home, it must be paid off before the new loan can be insured.
What's the most the HECM will count?
The lowest of the appraised value, the sales price and FHA's national limit, which is $1,249,125 for case numbers assigned on or after Jan. 1, 2026.
Do I still need HUD counseling?
Yes. As with any HECM, every borrower meets with a HUD-approved counselor first. For a purchase, the lender can take your application before or after counseling.