Can I Use a Reverse Mortgage to Purchase a Home in Warmer Climates or Improve My Lifestyle?

A reverse mortgage—specifically a Home Equity Conversion Mortgage (HECM) for Purchase—can be a great solution if you’re looking to relocate to a different climate or upgrade your lifestyle in retirement.

Many people dream of retiring somewhere warmer, closer to the beach, or maybe in a quieter community surrounded by nature. Others simply want a more manageable home that fits their needs better—single-level living, less maintenance, or access to amenities like golf, walking trails, or social clubs. A HECM for Purchase allows you to make that move without using all your savings or being burdened by monthly mortgage payments.

Here’s how it can help:

• You sell your current home or use savings to make a down payment on a new primary residence.

• The reverse mortgage covers the remaining cost of the new home.

• You don’t have to make monthly mortgage payments—you only need to cover property taxes, insurance, and maintain the home.

This gives you the freedom to:

• Relocate to a climate that suits your preferences—warmer winters, more sunshine, or even somewhere with seasonal changes you enjoy.

• Move into a home or community that enhances your lifestyle, whether that’s being closer to family, having access to healthcare, or enjoying amenities designed for active adults.

• Keep more money in your pocket—by not using all your equity for the purchase or committing to monthly mortgage payments, you can stretch your retirement income further.
• Live where you love while maintaining the financial flexibility to travel, take care of your health, or pursue hobbies.

Move with purpose, so you can truly enjoy the lifestyle you’ve worked so hard for.

Learn more about eligibility requirements for a reverse mortgage, situations where a reverse mortgage is best used, and common myths around reverse mortgage that we debunk with facts