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Buy Your Next Home Without Monthly Mortgage Payments

A Reverse Mortgage Purchase Loan lets you downsize, upgrade, or move closer to family while enjoying financial freedom in retirement.

Are You Ready To Buy A Home?

A reverse mortgage purchase loan, also known as a Home Equity Conversion Mortgage for Purchase (HECM for Purchase), offers a unique route to home buying for homeowners aged 62 and older. These loans allow you to tap into your home's equity to fund the purchase of a new home without monthly mortgage payments. However, property taxes, insurance, and maintenance costs must still be met. The amount you can borrow depends on several factors, including your age, the home's value, and current interest rates.

While the loan comes due when the last surviving borrower moves out, sells the home, or passes away, it offers seniors an opportunity to upgrade, downsize, or move closer to family without the burden of traditional mortgage payments. Discover the potential of a reverse mortgage purchase loan today, and redefine your golden years.

Here’s why you need to get pre-approved before starting your home buying journey

  • Know your budget - Pre-approval gives you an idea of what you can afford, allowing you to make informed decisions when shopping for a home.

  • Be a competitive buyer - Having a pre-approval letter shows sellers that you're a serious and committed buyer, making you stand out in a crowded market.

  • Streamline the process - The pre-approval process helps you identify any potential roadblocks early on, allowing you to address them before you find the home of your dreams.

  • Negotiate with confidence - Knowing that you have financing secured gives you the confidence to negotiate the best terms and price for your new home.

OPTIST Inc.

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OPTIST Inc.

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OPTIST Inc.

HELOC vs. Home Equity Loan

How Much Can I Borrow?

5 Smart Ways to Use Home Equity

First-Time Homebuyer Checklist

Company

About Fannie Mae West

Our Lender Network

Blog

Contact Us

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