This is perhaps the most powerful tool for buyers aged 62 and older. Unlike a traditional mortgage where you make monthly payments, a allows you to buy a new primary residence using a single down payment (typically 30–65%) without ever having to make a monthly mortgage payment again.
: The FHA increased the maximum claim amount to $1,249,125 for 2026, giving seniors more flexibility in higher-cost markets. senior citizen home buying program
: You bring your down payment to closing (often from the sale of a previous home), and the reverse mortgage covers the rest of the purchase price. This is perhaps the most powerful tool for