Buy New at 62+
Right-Size Into New Construction With a HECM for Purchase
If you're 62 or older, a HECM for Purchase (an FHA-insured reverse mortgage used to buy a home) can let you move into a brand-new Wright Cycle Estates home with no required monthly mortgage payment.
How it works:
♦ You make a one-time down payment: the sale price minus the loan's principal limit, plus any closing costs you don't finance, less your earnest money.
♦ The HECM covers the rest. You still pay property taxes, homeowners insurance and upkeep.
♦ The home must be your primary residence, occupied within 60 days of closing.
♦ HUD-approved counseling is required before you apply.
♦ The 2026 FHA HECM limit is $1,249,125, well above the price of every home in our community.
Your down payment depends on your age and current interest rates. Older buyers generally put down less. Example only: if the principal limit were 50% of a $395,000 home, you'd contribute about $197,500 plus any unfinanced costs.
Our HECM lending partner: Bill Roberts, CAVU Mortgage (NMLS #141480). Call (937) 307-8429 or email broberts@cavumortgage.com. 4141 Colonel Glenn Hwy, Suite 153, Dayton, OH 45432. Or tell us your timeline using the form and we'll show you which homes fit.
Wright Cycle Estates is a home builder, not a lender. Figures are illustrative and not a loan offer. Eligibility, rates and terms are set by your lender under FHA/HUD guidelines. You are free to choose any lender.