This link goes takes you to a 2 page document that discusses briefly using a Reverse Mortgage to purchase a property.
Often seniors (those 62 and over) will consider placing a Reverse Mortgage on their home for a multitude of reasons, many of which are the same if you use the Reverse Mortgage to “Purchase” a home. Click on the link above for a brief summary of the FHA HECM Reverse Purchase Mortgage. Many who have lost homes and had some liquid assets can still buy a home using the “Reverse Mortgage” without the 2-4 year waiting period which is required in normal mortgage loans. Feel free to contact my office at 949-428-3099 for additional information or a meeting to discuss your or a family members possible needs for this specific type of product.