Free Tool

HECM for Purchase Calculator

Find out how much down payment you'll need to buy a new home with no monthly mortgage payments.

Step 1 of 2 About you

How old are you?

If married or buying with a partner, enter the age of the younger person.

Target purchase price

The price of the home you're looking to buy.

Available cash for down payment

From home sale proceeds, savings, retirement funds, etc. Enter $0 if you're not sure yet.

How Age Affects Your Down Payment

Older borrowers can access more HECM financing, which means a smaller down payment. Here's how the estimated down payment changes by age on a $400,000 home:

Age	HECM Covers	Down Payment	% Down

Based on estimated 7% expected rate. Actual rates will vary.

How HECM for Purchase works

1 You find the home you want to buy and agree on a purchase price.

2 You bring a down payment (typically 40-60% of the price, depending on your age).

3 The HECM reverse mortgage covers the rest — with no monthly mortgage payments.

4 The loan is repaid when you sell, move out, or pass away — just like a standard HECM.

Common down payment sources

Sale of your current home

Savings or investment accounts

Retirement account withdrawals

Gift funds from family

Combination of sources

Who uses HECM for Purchase?

Downsizers — Sell a larger home, buy something smaller, and pocket the difference with no monthly payment.

Relocators — Move closer to family or to a new state without taking on mortgage debt.

Upgraders — Need a single-story or more accessible home as needs change.

Learn more about HECM for Purchase →

Already own a home?

If you want to access equity in your current home instead, use our standard calculator.

Standard HECM Calculator

Ready to talk numbers?

I can run a detailed purchase scenario with current rates and your target area's exact FHA limits.

Schedule a Free Consultation