I am a mortgage broker. If I can be of service, please let me know!
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Your question is best answered by a mortgage specialist. If you need help finding a qualified consultant let me know and I will put you in contact with a few I know.
But you need to think through what you want to do. If you plan to sell it in the near future a regular mortgage loan might be a better fee - you will not need a reverse mortgage. In either case you will be able to get out of the house and amount that is less than the actual equity (80% maybe) minus loan costs. Meaning that the new property you will have to buy will be of lesser value than your current equity.
It might be a better, and cheaper, strategy for you just to sell your current home and use all the cash to buy another one. You will get more money that way, you will be saving money and will avoid having to pay taxes and other expenses on two homes at the same time.