While the world around us continues to change, the core benefits of homeownership remain timeless: long-term stability, a sense of community, and the opportunity to build equity and financial security.
In recent years, Millennials (ages 26–44) have been the dominant force in the housing market. But according to the 2025 NAR Home Buyers and Sellers Generational Trends Report, that tide is shifting — and Baby Boomers (ages 60–78) are now the leading generation when it comes to home purchases.
According to the report, Millennials accounted for 29% of recent home sales, while Baby Boomers made up 42%.
If you’re approaching retirement or already enjoying it, you might be thinking about buying a new home — perhaps to downsize or move closer to loved ones. Or maybe you’d rather access the equity in your current home to help fund travel, healthcare costs, or your retirement lifestyle.
Here’s the good news: buying a home can still be a smart financial move, no matter your age or stage of life. Whether you're exploring a new purchase or thinking about leveraging your current home’s equity, there are flexible solutions to help you achieve your goals.
Home Equity Options
If you currently own a home, you’ve likely built up some equity. You can use your equity to:
- Fund the purchase of a new home
- Supplement your retirement income
- Pay off or consolidate debt
- Fund home renovations
- Cover medical expenses
You can access your home's equity in a few different ways, including:
Reverse Mortgage
A reverse mortgage allows homeowners who are over the age of 62 to tap into the equity they’ve built up in their home — through a lump sum of cash, a fixed monthly payment, or a line of credit.
Unlike a home equity loan, A reverse mortgage allows homeowners to borrow against their home equity, receiving payments or a lump sum without making monthly payments themselves, and the loan is repaid when they sell the home, move out, or pass away.
Seniors aged 62 and older can utilize a reverse mortgage to buy a home while preserving their cash savings.
Platinum Credit Approval
A Platinum Credit Approval (PCA) from Waterstone Mortgage is the strongest mortgage loan approval a homebuyer can receive. By obtaining a PCA, you position yourself as a serious and prepared buyer, increasing your chances of securing your desired home.
The PCA process involves submitting a full-document loan application before beginning your home search. Our underwriting team will conduct a comprehensive review of your credit, financial, and employment information, resulting in a fully underwritten loan approval. This upfront approach streamlines the remaining loan approval steps once you have an accepted offer.
Plus, if we are unable to close a PCA loan due to an internal underwriting error, we offer a $5,000 payment to the seller as part of our Platinum Credit Approval Closing Guarantee.
Interest Rate Buydowns
Our temporary buydown options allow you to reduce your mortgage interest rate for the first 1-3 years of your loan, easing into your monthly mortgage payment more gradually.
This cost is typically covered by the seller (3-2-1, 2-1, or 1-0) or lender (1-0). Common buydown formats include:
- 3-2-1 Buydown: Interest rate decreases by 3% in the first year, 2% in the second, and 1% in the third, returning to the original rate in the fourth year.
- 2-1 Buydown: Rate drops by 2% in the first year and 1% in the second, then returns to the original rate in the third year.
- Buydown: Rate is reduced by 1% for the first year before returning to the original rate.
Down Payment Assistance
Down payment assistance (DPA) isn’t just for first-time homebuyers (although there are plenty of first-time homebuyer DPA options available!). DPA programs are put in place to help eligible homebuyers provide funds for their down payment on a new home or closing costs.
We offer a variety of state-specific DPA programs, as well as a few national programs, like Downpayment Plus®, National Homebuyers Fund/Chenoa Fund, and Freddie Mac BorrowSmart®.
Ready to explore your homeownership or home equity options? Find a loan originator in your area to discuss your goals.
