Reverse Mortgage Estimate

HECM for purchase calculator

At 62 or older, you can buy your next home with a HECM for purchase: you make one down payment, and there's no monthly mortgage payment. Two questions.

How old is the youngest buyer? 1 of 2

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Are you planning to buy soon? Speak with a reverse mortgage specialist to learn more about a HECM for purchase. We are not a lender: the line connects you with reverse mortgage lenders and brokers who can quote your home.

Get written quotes

Up to three lenders or brokers send you a written quote for your home. Free, and you owe nobody anything.

By sending this, you agree that Summit Equity Partners Inc. may pass your request to up to three reverse mortgage lenders or brokers, who may contact you about it by the email or phone you gave. You can have us erase it whenever you wish.

Buying with a reverse mortgage: two amounts go to the seller

The seller receives two amounts from you: a down payment you bring, often from selling your old home, plus the HECM. HUD's table determines the HECM portion based on today's rates and your age, just like a standard reverse mortgage does. After that you live in the home without a monthly mortgage payment, though you still pay property taxes, insurance and upkeep costs.

When the youngest buyer is older, the HECM covers a bigger share, so you put down a smaller amount. Once the price passes $1,249,125 in 2026, HUD ignores the extra amount, and the down payment you need rises sharply.

Before you put in an offer

  • This has to be your main home: HUD's rules state you must be living there within 60 days of closing.
  • Every HECM begins with a meeting led by a HUD-approved counselor.

HUD insured 1,236 HECM for purchase loans from October 2025 to August 2026. Staying put instead? Get your reverse mortgage estimate or see the balance over the years.