Buyers may have MORE purchasing power with a reverse purchase loan.
Qualifying can be easier, weighted towards equity in the property with less emphasis on debt-to-income ratio and credit scores.
Then there is cash-flow as mentioned above… Borrowers are not required to make a monthly principal & interest payment during the term of the loan.
Borrowers are required to pay taxes, insurance, HOA (if applicable) and maintain the home, just like other lending.
P.S. If you are retiring soon and will be looking to buy a new home, be sure to meet with a mortgage broker like us, BEFORE you resign from your job. We tell you what the lending requirements are for the the loan type you want, and that can impact your timing.