Equity Elite Reverse Mortgage


You’ve worked hard to preserve and grow your nest egg, and maintain your retirement investment accounts. You may also be living on a fixed income. The last thing you want to do is drain your savings or add another monthly bill to the pile in order to buy a new home. 

That’s where a powerful financial tool can help—it’s called a reverse mortgage for purchase. And the best part? Unlike financing with a traditional mortgage, monthly principal and interest payments are not required on the loan as long as you comply with the terms of the loan.*


Enjoy being close to friends and family with a new home right in their neighborhood.


Buy the home that has the features that you want at this point in your life.


Pay as much or as little as you like each month toward principal and interest. As with any mortgage, you must meet your loan, keeping property related taxes, insurance and maintenance, and any homeowners association fees.


buyers guide cover 2020

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Nearly 64% of retirees have moved or anticipate moving in retirement.¹ Find out what kind of funds you can get for your new home.

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Joyce is 65 years old. Many of her friends moved to a new, low-maintenance lifestyle community and Joyce was eager to join them. But she didn’t want to add the burden of a monthly mortgage payment—or to spend $350,000 in cash to buy the home free and clear. She was forced to consider less expensive homes nearby.

Fortunately, a friend told her about Reverse Mortgage for Purchase loans. Joyce discovered that with this option, she only needed to invest about 57% of the purchase price.† This allowed her to upgrade to a more comfortable lifestyle and keep more of the money from the sale of her former home, while having the option of making no monthly principal and interest payments if she so chooses. (As with any mortgage, she must meet her loan obligations, keeping current with property taxes, insurance, maintenance and any homeowners association (HOA) fees.)


  • Joyce was able to move into the home that she wanted right away.
  • She kept significantly more cash from the sale of her previous home.


If you’re a homeowner who’s at least 62 years old, with equity in your home, you may be eligible for this financial solution.

Check Eligibility

¹ Rounds, Hanna, “Older Americans Are Getting Crushed by Debt, New MagnifyMoney Analysis Shows”, August 11, 2017. http://www.magnifymoney.com/blog/retirement/senior-debt-in-america1235240335/

Ϯ This down payment range assumes closing costs will be financed into the loan. The information being displayed is for illustrative purposes only. Actual cash required may vary and is based on age of youngest borrower, interest rate, home value, and other factors. Please contact Reverse Mortgage Funding LLC (RMF) for details about credit costs and terms.

2As with any mortgage, borrower must meet their loan obligations, keeping current with property taxes, homeowners insurance, maintenance and any homeowners association fees.