HECM for Purchase · H4P
Buy your ideal home.
Skip the monthly payments.
A Home Equity Conversion Mortgage for Purchase lets Utah homeowners 62+ buy a new home — one closing, no monthly mortgage payments, as little as 40% down.
What is H4P?
One closing.
Half the fees.
Before H4P existed, Utah seniors who wanted to downsize would sell their home, buy a smaller one, and then take out a standard HECM. That meant paying closing costs twice — once on the real estate transaction and again on the reverse mortgage.
The HECM for Purchase was created in 2009 to fix that. It combines the home purchase and the reverse mortgage into a single transaction — one closing, one set of costs, and you walk away owning your new home with no monthly mortgage payment.
Created in 2009 · FHA-insured · Non-recourse loan
Main benefits
Why Utah families choose H4P
01
No monthly payments
No principal and interest payment — ever. You still cover property taxes, insurance, and maintenance, but your monthly cash flow stays in your pocket.
02
Non-recourse protection
Your estate and heirs are never personally liable for the difference if your home sells for less than the loan balance. You will never owe more than the home is worth.
03
Buy the right home
Downsize, upsize, or right-size. Move closer to family, choose a single-level home, or buy in your dream community — without the burden of a traditional mortgage.
Are you living in your ideal home?
The home you want.
No mortgage payment.
With a HECM for Purchase, you have the flexibility to buy the home that best fits your life today — not the life you had 30 years ago when you bought your current home.
Downsizing
Sell your larger home, buy something smaller and lower-maintenance — and keep more of the equity in your pocket.
Buying for accessibility
Move to a single-level home or a community designed for retirement without stretching your monthly budget.
Relocating closer to family
Move to a new Utah city — or anywhere in the country — and buy without taking on a traditional monthly payment.
Eligible property types
- Single-family homes (1–4 units, owner-occupied)
- FHA-approved condominiums
- Approved townhomes
- HUD-approved manufactured homes
Also consider
If you want to stay in your current home, a standard HECM may be the better fit. Explore the other HECM options:
Qualifications
Do you qualify?
Here's what you need to be eligible for a HECM for Purchase in Utah.
Age 62 or older
All borrowers on the loan must be at least 62. The older you are, the smaller the required down payment.
Primary residence only
You must occupy the new home as your principal residence and keep up with property maintenance.
No federal debt delinquency
You must not be delinquent on any federal debt, such as federal income taxes or federal student loans.
Property taxes & insurance current
You must stay current on property taxes, required homeowners insurance, and any HOA or homeowners' fees.
Down payment requirement: A minimum of 40% down is required — but the exact percentage is determined by your age. The older you are, the less you need to put down. Your Reverse Freedom loan officer will calculate your exact number.
Ready to explore H4P?
See if the HECM for Purchase is right for your situation.
A Utah loan officer will walk you through the numbers — no credit pull required to get started.
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NMLS #1382816 | Utah DRE #9441193
This material is not from HUD or FHA and has not been approved by HUD or a government agency.
A reverse mortgage is a loan that must be repaid. Borrowers must continue to pay property taxes, homeowners insurance, and maintain the property as a primary residence. Failure to do so may result in foreclosure.
Borrowers are responsible for occupying the home as their primary residence, keeping up with property maintenance, and staying current on property taxes, required insurance, and any homeowners' fees. The balance, including interest, becomes due when the borrower no longer uses the home as a primary residence or fails to meet loan obligations.
It is recommended that you consult a tax professional regarding your individual financial situation.
Reverse Freedom Mortgage is licensed in the State of Utah. 9089 S 1300 W STE #110, West Jordan, UT 84088.
Utah's reverse mortgage specialists since 2008. Helping Utah retirees live the retirement they imagined.
HUD/FHA Notice: This material is not from HUD or FHA and has not been approved by HUD or a government agency.
Loan Repayment: A reverse mortgage is a loan that must be repaid. Borrowers must continue to pay property taxes, homeowners insurance, and maintain the property as a primary residence. Failure to do so may result in foreclosure.
Reverse Freedom Mortgage is licensed in the State of Utah. NMLS #1382816, Utah DRE License #9441193.
© Reverse Freedom Mortgage. All rights reserved.