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Reverse mortgages

HECM for Purchase

The short answer HECM for Purchase lets an eligible borrower buy a principal residence with an FHA-insured reverse mortgage plus required buyer funds. It isn't a zero-down purchase: you cover the difference between the loan proceeds and the purchase and closing costs with acceptable funds. HECM obligations and counseling still apply. Marcus offers HECM for Purchase.

Last reviewed: October 18, 2026 · General education, not a loan offer or approval. Availability and terms depend on the lender, the property and your file.

It may fit if

  • You're generally age 62 or older and want to buy a home to live in.
  • You're moving closer to family, downsizing or finding a home that suits you better.
  • You have funds, such as proceeds from selling your current home, for your share of the purchase.

Tradeoffs to weigh

  • You still need a meaningful contribution of your own funds.
  • Taxes, insurance, maintenance and occupancy obligations continue after you buy.
  • Proceeds depend on a transaction-specific calculation, so no amount is set before review.

What to have ready

  • Your plans for your current home, such as selling it.
  • Your purchase timeline and the area you're looking in.
  • A rough price range for the new home.
  • The funds you expect to have for your share.
  • Whether you're working with a real estate agent.

Questions people ask

Can it help me move closer to family?

Potentially, when the new property and you meet the program requirements.

Does the reverse mortgage pay the entire price?

No. A transaction-specific calculation determines the buyer's required contribution and costs.

Your next step

Tell me what you're trying to do. I'll check which options fit your situation and walk you through the tradeoffs.

Compare reverse mortgage optionsTalk to Marcus

Related topics

HECM reverse mortgage Proprietary and jumbo reverse mortgage See the loan programs All topics

Sources

Official program and consumer sources this page is based on. Lender rules can be stricter than these.

Marcus Wright
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You work with me, start to finish.

Marcus Wright · Loan Officer, NMLS #2789841

Originates through Q Mortgage LLC, NMLS #2567464. Licensed in Texas.

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I aim to get back to you within a few working hours, often sooner.

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How it works

  1. 1. Tell me your goalCall, book a time or send a note. No SSN and no credit check to start a conversation.
  2. 2. I compare your optionsI look at your income, property and plans, and explain the costs and tradeoffs of each route in plain language.
  3. 3. Apply when you're readyYou apply through a secure application. The lender's underwriting makes the final decision, and I keep you updated until closing.
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