FAQ
Can I use a reverse mortgage to buy a home?
Yes. A HECM for Purchase lets buyers 62+ buy a new home with roughly 50–65% down and no monthly mortgage payment for life.
By Tres Miller · Mortgage Banker · NMLS #217768
Reviewed June 22, 2026 · 31+ years lending in Utah
Quick Answer
Yes. A HECM for Purchase lets buyers 62+ buy a new home with roughly 50–65% down and no monthly mortgage payment for life.
Detailed answer
HECM for Purchase is ideal for Utah retirees right-sizing into a smaller or newer home — particularly in Washington County. You bring a down payment, the reverse mortgage covers the rest, and you have no monthly mortgage payment as long as you live in the home.
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