In Utah, a Reverse Mortgage, also known as a Home Equity Conversion Mortgage (HECM), allows the Utah homebuyer to purchase a home with a partial down payment but enjoy all the benefits of living in the home free and clear. A HECM Reverse Mortgage is insured by the Federal Government of the United States. In the state of Utah, you may use a HECM for purchase to purchase a new principal residence.. When seniors use an HECM for purchase, it makes it easier to purchase a new home that suits their physical needs, or relocates them closer to family for a pleasant retirement. Traditionally Reverse Mortgages are known to benefit people through refinancing their existing home but more and more people are using the HECM reverse mortgage to either downsize into a smaller, more suitable home, or upgrade into a better home through purchasing. In Utah, the HECM reverse mortgage for purchase allows seniors to make this move within a single transaction.