Los Angeles Reverse Mortgage for Purchase Calculator
This tool provides educational estimates only. It won’t affect your credit and it isn’t a commitment to lend. Actual eligibility, amounts, and costs depend on a full application, property appraisal, HUD-approved counseling, and underwriting.
For Refinance & Purchase in Los Angeles
Discover How a Reverse Mortgage Can Easily Provide You With a Non-Taxable Cash Flow Without Depleting Your Savings or Managed Funds
Welcome to Your Trusted Partner in Home Buying with Reverse Mortgages
Are you considering purchasing a home but concerned about monthly mortgage payments? A reverse mortgage for purchase might be the perfect solution for you. Our Reverse Mortgage for Purchase Calculator empowers you to explore how you can buy a home without the burden of monthly payments, using Home Equity Conversion Mortgage (HECM) options. Dive into our free tools, comprehensive FAQs, and balanced insights into the pros and cons to make an informed decision about your home purchase.
Understanding Reverse Mortgage for Purchase
A reverse mortgage for purchase is a unique financing option that allows seniors to buy a new primary residence using the equity from their current home. Unlike traditional mortgages, this option does not require monthly mortgage payments, providing financial flexibility and peace of mind.
When using this calculator for a purchase, in the Total Mortgage Balance section input $0
Estimate your HECM options
Takes ~30 seconds. No SSN or credit check.
Disclosures: Estimates only—not a credit decision or commitment to lend. Eligibility and amounts depend on counseling, appraisal, program limits, and underwriting. You must pay property taxes, homeowners insurance, and maintain the home. HECM is non-recourse. Reverse-mortgage advances are generally not taxable as income; ask a tax professional.
C2 Financial Corp NMLS 135622 • CA DRE 01821025 • Moe Nelson NMLS 992923 • Equal Housing Lender • Not endorsed by or acting on behalf of HUD/FHA.
How It Works
The Reverse Mortgage for Purchase Calculator
Our Reverse Mortgage for Purchase Calculator is a free, easy-to-use tool designed to help you understand how much you can afford to buy a new home without the obligation of monthly payments.
Key Features
Benefits of Using the Calculator
Exploring HECM Options
The Home Equity Conversion Mortgage (HECM) program is a versatile and secure way to finance your home purchase through a reverse mortgage.
Why Choose HECM?
HECM Features
Frequently Asked Questions (FAQs)
Pros and Cons of Reverse Mortgage for Purchase
Understanding the advantages and potential drawbacks is crucial in making an informed decision about using a reverse mortgage for your home purchase.
Pros
Cons
Take the Next Step Towards Your New Home
Purchasing a home using a reverse mortgage for purchase can be a smart financial move, offering flexibility and peace of mind. Our team is here to guide you every step of the way, ensuring that you fully understand your options and make the best decision for your future.
Ready to Get Started?
Why Choose Us?
Selecting the right partner for your home purchase journey is essential. Here’s why we stand out:
“We wanted to age in place in Torrance without a monthly mortgage payment. After counseling, the process was clear and we felt confident. We paid off our old loan and finally breathe easier each month.” Mary Ann & Joe T., 71 & 74, Torrance, CA
Additional Resources
Expand your knowledge with our comprehensive resources designed to educate and empower you in your home buying journey.
Video Resources
Short, plain-English videos about HECM reverse mortgages. Educational only—not a commitment to lend.
Case study
Program rules & eligibility
Ownership & longevity
Counseling (required)
Embarking on the journey to purchase a new home using a reverse mortgage for purchase can transform your financial landscape. Utilize our tools, leverage our expertise, and take control of your home buying experience today. Call us now! to start your path towards a worry-free homeownership experience.
🔍 Page Summary: Reverse Mortgage for Purchase Calculator Los Angeles
This page introduces the HECM Reverse Mortgage for Purchase Calculator, a simple tool to estimate how much home you can buy without monthly principal & interest payments by using a reverse mortgage at purchase. It explains how the program works, who typically qualifies (age 62+, sufficient equity, FHA-eligible property, ability to keep up with taxes/insurance/maintenance), and how a HECM for Purchase can help you right-size or relocate while preserving savings. You’ll find key benefits and trade-offs, a clear overview of the steps (consultation, HUD counseling, application & disclosures, appraisal, underwriting, closing), plus FAQs, short explainer videos, and links to request a custom quote—all tailored to Los Angeles and nearby neighborhoods.
Other areas near Los Angeles we cover include: