Use a Reverse Mortgage to Purchase a Home

A FHA reverse mortgage can be used to purchase a property.  It is known as a HECM For Purchase and it allows a home buyer over the age of 62 to purchase a home using a reverse mortgage.  This can provide an opportunity to qualify for the home desired and save more assets for retirement.  There are some restrictions to be aware of concerning property condition and seller allowances.  Contact me to go over what to look for with a HECM For Purchase.