Helping Homeowners Age 62+ “Right-Size” Their Way into a More Comfortable Retirement

By Vicki Cheairs, HECM Loan Specialist, NMLS #543256, Reverse Mortgage Funding LLC (RMF)

The Home Equity Conversion Mortgage for Purchase (also called HECM for Purchase or H4P) is a loan program designed specifically to help homeowners age 62+ to purchase a home that’s more lifestyle-appropriate, without needing to make monthly mortgage payments. (Of course, as with any mortgage, the borrower must meet their loan obligations, keeping current with property taxes, insurance, and maintenance.) This home financing option was created by the Federal Housing Administration (FHA) in 2008, and HECM for Purchase loans are insured by the FHA. For those 62 and older, H4P has been used as an effective tool to “right-size” living accommodations — by either moving closer to family, purchasing a one-story home, or relocating to a lifestyle community.

More than 90 percent of older Americans polled in a Georgetown University study* say they prefer to live in their own homes when they retire. Many believe that moving to a newer home that’s more appropriately sized for their current or future needs, or moving to a home closer to their children, are not options because they are afraid they cannot afford it. In reality, an H4P can help qualified borrowers maintain their nest egg, improve their cash flow, and often afford a more expensive new home or one with additional upgrades.

While it may sound “too good to be true,” ask one of the thousands of retirees who already have successfully used a HECM for Purchase to buy a new home, located where they choose, with amenities that help them enjoy a more comfortable retirement.

Contact me at 281.855.1122 to see if a Home Equity Conversion Mortgage for Purchase may be right for you.

Vicki Cheairs is an experienced HECM specialist with Reverse Mortgage Funding LLC (NMLS #1019941). Cheairs is available at 281.855.1122 or to help educate prospective borrowers and their families. Branch address: 14415 Sugar Mill Cir., Houston, TX. Branch NMLS #1280315. Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act; Loans made or arranged pursuant to a California Financing Law license.  Georgia Residential Mortgage Licensee No. 36793; Originator License No 51550.  For California consumers: For information on our privacy practices visit


* Philips and Global Social Enterprise Initiative at Georgetown University’s McDonough School of Business, June 12, 2014

This material has not been reviewed, approved or issued by HUD, FHA or any government agency. The company is not affiliated with or acting on behalf of or at the direction of HUD/FHA or any other government agency.

© 2021 Reverse Mortgage Funding LLC, 1455 Broad St., 2nd Floor, Bloomfield, NJ 07003, 1-888-494-0882. Company NMLS ID # 1019941. For licensing information, go to: Not all products and options are available in all states. Terms subject to change without notice. Certain conditions and fees apply. This is not a loan commitment. All loans subject to approval. L3677-Exp022022

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