Did you know that if you’re 62 or older in Washington State, you can purchase a new home using a Home Equity Conversion Mortgage (HECM)—commonly known as a reverse mortgage?

Many retirees feel stuck in homes that no longer fit their needs, whether it’s a two-story or three-story house that’s difficult to navigate or a property that’s simply too large to maintain. But downsizing doesn’t have to mean taking on a new monthly mortgage payment.

How Does It Work?

A HECM for purchase allows eligible homeowners to:
✅ Sell their current home
✅ Use a portion of the proceeds as a down payment on a new home
✅ Finance the rest with a reverse mortgage—eliminating monthly mortgage payments

This can be a game-changer for retirees struggling to make ends meet, allowing them to move into a home better suited to their needs while preserving their cash flow for other expenses.

Why Real Estate Agents Should Pay Attention

There are many seniors in our communities who don’t realize this option exists. As a real estate agent, you have the opportunity to educate and assist them in finding the right home without the burden of traditional mortgage payments.

Imagine being the agent who helps someone transition into a comfortable, single-level home while securing their financial future!

Let’s Work Together

If you’re a homebuyer over 62 or a real estate agent looking to better serve senior clients, let’s connect. There are real solutions to help people find financial security in retirement.

📩 Reach out today to learn more about how a HECM for purchase could work for you or your clients.

Larry Burgher | Mortgage Specialist
📍 Serving Washington State
🏡 www.burgherhomeloans.com
NMLS #1887785