HECM for Purchase (H4P)

• Age Requirement: 62+

• Purpose: Buy a new primary residence using reverse mortgage proceeds.

• Benefits: No monthly mortgage payments, stays FHA-insured, flexible disbursement.

***Great for downsizing. Use a portion of proceeds from sale of existing home for down payment on new home, avoid another (forward mortgage), and pay yourself from the equity you established in new home with the reverse mortgage.