Reverse Mortgage for Purchase

Working with a buyer (over age 62) that is looking to buy a home, but prefers not to plunk down entire proceeds of home sale for the new purchase. With the HECM purchase loan, my clients will buy a new home putting down less than 50% and keep most of their proceeds working for them - and no mortgage payment. Of course, this was discussed with their financial and estate planner who approved of the plan.