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H4P Can Offer Baby Boomers Three Home Purchase Options

While the common assumption may be that baby boomers are downsizing and buying smaller, less expensive homes, that’s not necessarily the case. They are looking for the home that they really want; and they may be able to buy their dream home using a Home Equity Conversion Mortgage for Purchase, also known as an H4P reverse mortgage.

The H4P is an FHA-insured reverse mortgage program that allows Baby Boomers 62 and older to purchase a home – the home they want that meets their current needs as well as future needs – with no mortgage payments. By combining a one-time down payment with a reverse mortgage, all in a single transaction, borrowers can purchase a new home without having a monthly mortgage payment. An H4P gives buyers more purchasing power and flexibility to either downsize, upsize, or right-size into a new home.

According to a recent survey, 52 million Baby Boomers said they are not living in a home that met their long-term lifestyles. According to the National Association of Home Builders, Baby Boomers are looking for communities that are near family (particularly grandchildren), near retail spaces, that are walkable, that are typically suburban, and that have greenspaces and walking and jogging trails.

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Many retirees choose to purchase a smaller home that requires less upkeep. An H4P can be an ideal way to finance a new smaller home that has all the features they are looking for, without a mortgage payment.


Whether it’s a bigger home with lots of room for visiting grandchildren, or a larger dream home on the beach, or a more spacious home that can accommodate a wheelchair or a walker for later in life, many Baby Boomers choose to upsize rather than downsize. An H4P gives seniors the opportunity to purchase more house because they aren’t paying the full purchase price.


Sometimes the size and price of the home might be just right, but some Baby Boomers just want a different home that offers amenities and features that are more suitable to their lifestyle as they age, like a senior community. The H4P lets Baby Boomers buy a new house with no mortgage payments.

If you are a Baby Boomer who is considering aging in place, but in a new place, a Home Equity Conversion Mortgage for Purchase, or H4P, may be a great loan solution. To help you make an informed decision, speak with a Certified Reverse Mortgage Professional.

Learn more about how people are using home equity conversion mortgages for purchasing homes:

Please keep in mind that the reverse mortgage industry in constantly changing and some of the information contained on this site may not be current. Please ask a licensed reverse mortgage professional for up-to-date guidelines.