Can I use a reverse mortgage to purchase a home?

Yes, with the HECM (Home Equity Conversion Mortgage) for Purchase loan, qualified borrowers can use their loan proceeds to buy a home that better suits their needs and lifestyle. It’s a home financing option that can make it easier for buyers age 62 and older to afford the home they want, while preserving more of their savings.

Verified Reviews

(59)

Thanks Again Larry treated me very well and helped me go thru the indepth process!!! Thanks again

W Hammond — Sep 7, 2015

Great experience Larry McAnarney was just super. He helped us stay organized and explained everything that needed to happen to complete the reverse mortgage. We really couldn't have done it without him. Like anything that's associated with the government, there are lots of hoops to jump through. But Larry was very patient with our questions and was easy to work with from start to finish. My wife was getting impatient with the process and said some things that would have caused most people to say good-bye, but Larry stayed calm and didn't put any pressure on us to make a final decision. He treated us with respect and wanted to be sure that WE were happy with what we were doing. I'd highly recommend Larry to anyone who is considering a second mortgage. It was a great experience.

Terry M — Aug 14, 2015

Very Thoughtful and Professional Larry is a very thoughtful and professional person. He carefully and with great patience took me through the process and gained my respect and trust. Always available and always following up, without the sales push and aggressiveness of other companies I talked with. Great person to work with and I highly recommend him      

Javier I — Feb 13, 2018

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This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.

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Illinois Residential Mortgage Licensee; Arizona Mortgage Banker License #0935256: Georgia Residential Mortgage Licensee No. 36793; Originator License No. 40299; Kansas Originator License LO.0001032; Licensed by the New Jersey Department of Banking and Insurance; Texas Mortgage Banker Registration in-state branch office 6044 Gateway East, Suite 236, El Paso, TX 79905(branch NMLS 1244676) RMF is not licensed or registered to engage in mortgage loan origination activities in Hawaii or New York.