Skip to content

#185: Using a reverse mortgage to settle back in the U.S.A


After close to thirty years working abroad as an international education consultant, at age 74, you’ve moved back to the U.S. to be closer to family. For the past year, you’ve been renting an apartment in Indianapolis, waiting for the right time and the right spot to build your “forever” (or at least “for the foreseeable future”) home. You’ve been talking to different builders and are just about ready to pull the trigger on a medium-priced site in a neighboring township community. You’re wavering on whether to purchase the home for cash, avoiding the need for mortgage payments. At the same time, you hate the idea of tying up so much of your capital.

Financing the purchase of your new home with a HECM-for-purchase reverse mortgage might allow you to tie up less of your capital while still avoiding monthly mortgage payments. Using a combination of your own funds and a government-insured loan, the HECM-for-purchase plan consolidates two financial transactions into one. You would be able to hold on to more of your own capital for other needs, and repayment can be deferred until such time as you no longer occupy the home. 

Now back home in the USA, you’ll be preserving more of your liquid assets, all the while “building”, not only a new house itself, but, potentially, building housing wealth!

Readers, if you’d like to see what you might qualify for with a reverse mortgage in Indiana, or to download your Reverse Mortgage Guide Click Here(and scroll down).