• Question
  • Second Reverse Mortgage

    Asked on 9/13/2008

    Can I purchase a home with a Reverse Mortgage I currently have a Reverse Mortgage Skansken

  • Categories: Reverse Mortgages, Qualifying


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  • I am not sure I understand your question.

    You must live in the home in order to have a Reverse Mortgage on it. So, you can not have a Reverse Mortgage on two homes at one time.

    But, if you are interested in using your Reverse Mortgage loan amount to purchase a second home, that is indeed possible... assuming you can get the proper financing, etc...

  • Login to rate this answer:   Answered on 9/14/2008
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.