Yes! You can. A HECM for Purchase is a product specially created for buying a new or existing home. It’s a terrific way for buyers age 62 and older to find their dream “age-in-place” home, and either upgrade using their current home’s equity or keep some of that equity for the future by using the HECM. The no mortgage payment option of the HECM makes a HECM for Purchase a very attractive alternative to a traditional forward mortgage.