HECM for Purchase
Buy Your Next Home Without a Monthly Mortgage Payment*
One down payment, one closing, and no principal-and-interest payment for as long as you live in the home and keep up taxes, insurance and maintenance.
How It Works
1. You choose the home
Any home that meets FHA standards — single-family, an FHA-approved condo, or a qualifying manufactured home.
2. You bring a down payment
Usually from the sale of your current home. The HECM covers the rest.
3. You skip the monthly payment
No principal-and-interest payment.* You still pay taxes, insurance and upkeep.
Why People Use It
Downsizing
Sell the big house, buy something easier to manage, and keep more of the proceeds.
Moving closer to family
Relocate without taking on a new monthly mortgage payment in retirement.
More house than cash alone allows
A larger down payment plus a HECM can reach a home that cash alone would not.
Keeping savings invested
Leave retirement accounts where they are instead of draining them for an all-cash purchase.
*Borrowers remain responsible for property taxes, homeowners insurance and home maintenance. The loan balance grows over time.
Ready to Talk It Through?
Call 208-412-3676 or send a message. No pressure, no obligation.