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Important update: Cherry Creek Mortgage is now partnering with Guild Mortgage.
Already working with a Cherry Creek Mortgage loan officer? Find them on the Guild Mortgage website.

Use a Reverse Mortgage to Purchase Your New Home

HECM for Purchase

A Home Equity Conversion Mortgage (HECM) for purchase — a type of reverse mortgage — allows retirees or those approaching retirement to convert the equity in their home into cash, which they can then use to buy a new principal residence. These loans (which are insured by HUD), allow borrowers to take out a reverse mortgage and purchase a new home within the same transaction, potentially saving time and money.

Do you have questions or concerns about HECM for purchase? Reach out today, and we’ll be happy to help!

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Buying a House with a Reverse Mortgage

While your house might have been a great place to call home, as you enter your golden years, it might not suit you quite as well. Perhaps the yard (or the home itself) is too big to maintain, you can’t get up and down the stairs as well as you used to, or you’d like to move closer to your children and grandchildren.

Whatever the reason you’re considering buying a new home, the funds from a reverse mortgage can help pay for your new home.

How it works

How to Use a Reverse Mortgage to Purchase a Home

Can I Use a Reverse Mortgage to Purchase a Second Home?

Down Payment for a Reverse Mortgage Purchase

Ready to learn more about a reverse mortgage for purchase?

Take the next step by reaching out to one of our reverse experts.

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Instantly Get Your Reverse Mortgage Info Kit

What is the property address?

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