The down payment for your home can come from a number of sources, just like any time you buy a home. The cash you bring to purchase the property may be from the proceeds of the sale of your previous home, or it may be from your savings. It could also be a combination of the two.
This article is intended for general informational and educational purposes only, and should not be construed as financial or tax advice. For more information about whether a reverse mortgage may be right for you, you should consult an independent financial advisor. For tax advice, please consult a tax professional.