Reverse Mortgage for Purchase

Buy your next home with a reverse mortgage and enjoy it with no monthly mortgage payments. For homebuyers 62 and older.

Buy the Home You Want
Without a Monthly Payment.

A reverse mortgage for purchase combines a one-time down payment with reverse mortgage financing, so you can buy a new primary residence in a single transaction. You move in with no required monthly mortgage payments and keep more of your savings working for you.

Buy a new home in one transaction

No required monthly mortgage payments

Right-size, relocate, or move near family

Preserve more savings than paying all cash

Get Your Free Quote

Call Us: 800-558-0475

Why Buy With a Reverse Mortgage?

Paying cash ties up your savings, and a traditional mortgage adds a monthly payment in retirement. A reverse mortgage for purchase gives you a third option.

Eligibility

Buyers 62 and older purchasing a home they will occupy as their primary residence.

Down Payment

Your down payment depends on your age, the home price, and current rates. Older buyers put down less.

Buying Power

Combine sale proceeds from your current home with reverse financing to buy more home.

Property Types

Single-family homes, FHA-approved condos, and new construction with a certificate of occupancy.

One Team, One Transaction

Opulence Realty agents and our in-house loan team handle your sale and purchase together, so nothing falls through the cracks.

Lower Costs, Faster Closings

With real estate and lending under one roof, we can often reduce your transaction costs and close faster.

Clear Down Payment Math

We calculate your exact down payment before you shop, so you know your price range with confidence.

The Details

Understanding a
Reverse for Purchase.

Buying with a reverse mortgage works like a traditional purchase with one important difference: after closing, you have no required monthly mortgage payment.

How the Numbers Work

The reverse mortgage covers part of the purchase price and you contribute the rest as a down payment, often from the sale of your current home or savings. The older you are, the more the loan typically covers and the less you need to put down.

The Purchase Timeline

After HUD-approved counseling, you make an offer and close like any other purchase. Your agent and loan team share one system, so every deadline and update is coordinated in real time. You must move in within 60 days of closing.

Your Ongoing Responsibilities

You hold the title to your new home and continue paying property taxes, homeowners insurance, and any HOA dues, and you maintain the property. The loan is repaid when the last borrower sells, moves out permanently, or passes away.

How It Works

Our Loan Process

Four clear steps from your first conversation to closing day, all handled by one in-house team.

Consultation

We start by understanding your goals. Your dedicated loan officer reviews your situation and recommends the right program.

Pre-Approval

Our technology compares your scenario across multiple investors in minutes. You get a clear picture of your rates, costs, and options.

Processing

Your in-house processor collects documents, orders the appraisal, and coordinates with title and closing. No third-party handoffs.

Closing

Final documents are prepared, reviewed, and signed. Funds are disbursed. Your loan officer stays with you through the last signature.

Ready to Get Started?

500 N. Franklin Turnpike, Suite 303
Ramsey, NJ 07446

Call: 800-558-0475
Email: info@ophomeequity.com

Frequently Asked Questions

Answers to the questions we hear most about buying a home with a reverse mortgage.

How much do I need for a down payment?

It depends on the age of the youngest borrower, the purchase price, and current interest rates. Older buyers generally need a smaller down payment. We calculate your exact figure before you start shopping.

Can I use the sale of my current home?

Yes. Many buyers use proceeds from selling their current home as the down payment. Our realty team can help coordinate both the sale and the purchase.

Can I buy a newly built home?

Yes, as long as the home has a certificate of occupancy and meets FHA property standards at closing.

Do I have to live in the new home?

Yes. The home must be your primary residence, and you must move in within 60 days of closing.

Will I have a monthly mortgage payment?

There is no required monthly mortgage payment. You remain responsible for property taxes, homeowners insurance, HOA dues if any, and home maintenance.

Who owns the home?

You do. The title is in your name, just like with any other home purchase.

Opulence – Mortgage solutions with integrity Your home’s equity working for you

Reverse Mortgage for Purchase