Buy Smaller With a Reverse Mortgage
A HECM for Purchase may let eligible buyers 62+ purchase a new primary residence with a larger down payment and no required monthly mortgage payment afterward, as long as loan obligations are met.
Baby Boomer downsizing & retirement housing
Your Next Home Shouldn't Drain Your Retirement
Many homeowners assume they must use savings or investments to cover housing costs in retirement. Depending on your situation, there may be other ways to structure your home and mortgage so monthly costs are lower and your retirement assets are preserved. We help you explore them.
A Consulting Approach, Not a Sales Pitch
Every household is different. We begin by understanding your goals, your timeline and your numbers, then walk through the choices and their trade-offs so you can decide with confidence. For some people the best answer is a mortgage product. For others it is not.
Options We Can Help You Explore
Eliminate a Payment in Your Current Home
A reverse mortgage can pay off an existing mortgage, so there is no required monthly mortgage payment on the new loan. You still pay taxes, insurance and upkeep. How it works
Refinance or Restructure
In some cases a traditional refinance or home equity loan lowers your costs without a reverse mortgage. We compare these side by side.
Sell and Buy With a Plan
Coordinate the sale of your current home and the purchase of your next one, including bridge or timing considerations.
Preserve Retirement Assets
Look at how housing choices interact with withdrawals from retirement accounts, so you are not drawing down savings unnecessarily. We work alongside your CPA or financial advisor.
Stay Put and Do Nothing
Sometimes the best move is no move. We will tell you honestly if that is the case.
Questions We Help You Think Through
- What does my monthly housing cost look like today and in 10 years?
- How much of my retirement income goes to housing?
- Do I want to stay in this home, or move closer to family or to a smaller place?
- What do I want to leave to my family?
- What are the costs, risks and responsibilities of each option?
Please note: Whether a payment can be reduced or eliminated depends on your age, home value, existing loans, credit, income and the program. Reverse mortgages are loans: interest and fees increase the balance over time, reduce home equity, and require you to keep paying property taxes, insurance and maintenance. Counseling from a HUD-approved agency is required for HECM loans. We do not provide tax, legal or investment advice, so please consult your own advisors.
Request a free planning conversation Read about reverse mortgages
Not affiliated with or endorsed by HUD, FHA or any government agency. Educational content only; not an offer or commitment to lend. Loans are subject to credit and property approval and program eligibility. See Licensing & Disclosures.