The HECM for Purchase

The HECM for Purchase is the Home Loan that is designed to allow people to purchase a new home using a Reverse Mortgage. Recently it has exploded in popularity. It allows homeowners over 62 to downsize or relocate to a new home or area with greater flexibility. These buyers can purchase a new home with only a fraction of the sales price and do so without having a required monthly mortgage payment.

With a HECM Reverse Mortgage monthly payments are voluntary and a high percentage of people love knowing that they won’t have to make a monthly payment as long as they live in the home. Of course, the homeowner is still responsible for basic property expenses such as property taxes, insurance, and maintenance.

The video we’ve produced explains a little more about how a HECM works and who qualifies for it.

Benefits of a HECM for Purchase

With a HECM for Purchase, the down payment is based on the age of the youngest borrower and typically ranges between 45% and 62% of the sales price. This offers some truly incredible benefits. These benefits include:

  • Purchase a better home without having to pay as much out of pocket
  • Spend less of their nest egg or retirement investments
  • Avoid a mortgage payment and protect retirement cashflow

The point of a Reverse Mortgage is to have financial freedom and peace of mind. By using the HECM for purchase my clients have more options and flexibility.


The HECM for Purchase in St George Utah where I live has become a major staple in the primary retirement communities such as Sun River, Brio, and Coral Canyon. Most of my clients using the HECM for Purchase are either downsizing from other homes in St George, Cedar City, or other parts of Southern Utah or they may be relocating altogether from areas such as the Wasatch front in Northern Utah, Southern California, Colorado, and Nevada.

If you or someone you love is thinking about buying a new home, Call me today to see if you qualify for the HECM for Purchase.

Trevor Carlson

President – Reverse Mortgage Specialist

Heritage Reverse Mortgage


Heritage NMLS #1497455 Trevor?s NMLS #: 267962

1060 South Main Street Bldg. A Suite 101B

St George Utah 84770