The Home Equity Conversion Mortgage for Purchase program is a part of HUD’s larger HECM program. It allows eligible home buyers to get a reverse mortgage and purchase a home, all under one single mortgage transaction.
Read More
The amount of money you get from a reverse mortgage is dependent on the type of loan and the method you choose to receive your payments. There are three types of reverse mortgages: Single Purpose, Proprietary, and the Home Equity Conversion Mortgage (HECM).
Read More