Reverse Mortgage To Buy New Home Apr 2026

You may be able to afford a more accessible or higher-end home than cash alone would allow. 🛠️ How It Works

You use proceeds from the sale of your old home or your savings to pay about 45% to 70% of the new home’s price. Loan Amount: The HECM loan covers the remaining balance. reverse mortgage to buy new home

The loan is only repaid when the last borrower sells the home, moves out permanently, or passes away. 📋 Requirements & Responsibilities Age: At least one borrower must be 62 or older . You may be able to afford a more

You must pay all property taxes, homeowners insurance, and HOA fees . The loan is only repaid when the last

You aren’t required to make monthly mortgage payments (though you must pay taxes and insurance).

To see if this fits your specific situation, I can help you look into: amounts for your target home price. FHA-approved condos or communities in your preferred city. Local HUD-approved counselors to start the process.

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