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Reverse for Purchase Estimate Calculator

Property Value > Please Enter Purchase Price

Age > Please Enter the Youngest Borrower's Age.

Liens > Please Enter Zero

State > Please Enter FL


Disclaimer:


The Reverse Mortgage Calculator provided is intended for informational purposes only and offers an estimate based on current program offerings which are subject to change. This calculator does not constitute an offer to lend, nor does it guarantee the availability or terms of any mortgage product.


Important Notices:


  • Estimates Only: The results shown are preliminary estimates and do not reflect the actual loan amount, interest rates, or other costs you might incur.


  • Adjustable Rate Mortgage: Reverse mortgages often have variable interest rates which can change over the life of the loan, potentially affecting the total amount owed.
  • Closing Costs and Fees: There are significant closing costs, fees, and other charges associated with reverse mortgages that are not reflected in these calculations. These can include but are not limited to, origination fees, mortgage insurance premiums, and servicing fees.
  • Counseling Requirement: Before obtaining a reverse mortgage, Florida law mandates that you must undergo counseling from a HUD-approved counseling agency. This counseling is crucial to fully understand the implications of a reverse mortgage.
  • Government Approval: These materials have not been approved, sponsored, or endorsed by HUD or any other government agency.
  • No Guarantee: This tool does not guarantee loan approval or the terms of any potential loan; all loans are subject to credit approval and property appraisal among other conditions.
  • For Full Information: Before deciding on a reverse mortgage, consult with a licensed mortgage professional who can provide detailed information tailored to your specific situation. Remember, reverse mortgages are complex financial products with long-term consequences, including the obligation to maintain property taxes, homeowner's insurance, and home maintenance.


Additional Note:

The calculator above is only for one type of product. Please reach out to a licensed reverse mortgage professional to get more details, a more accurate estimate, and to explore the different lending options available. These options will also have different results and proceeds. The borrower will receive an amount that varies based on these factors.


Last Updated: 1/18/25


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Why Partner with Us?


  • Expert Guidance: We provide comprehensive consultations, ensuring both you and your clients understand all available options.
  • Local Market Knowledge: Our deep understanding of Florida's real estate landscape means solutions tailored to your region.
  • Full Transparency: We commit to clarity across all terms, rates, and costs.


Compliance and Client Assurance


  • Regulatory Adherence: Our mortgage offerings comply with Florida state regulations, offering you peace of mind.
  • Counseling Requirement: We facilitate mandatory, independent counseling sessions for clients to grasp the full scope of reverse mortgages.


Take Action Now


Ready to offer these innovative financing solutions to your clients? Use our Reverse Mortgage Calculator for HECM to estimate purchase amount financing or contact us directly. Fill out the form and we will contact you to explore how we can collaborate to secure the dream homes your clients envision. Let's make retirement a new beginning with the right financing strategy.


Unlock New Opportunities for Your Clients with Reverse Mortgage Solutions


At Access Reverse Mortgage Corp., we're dedicated to providing innovative reverse mortgage services in Florida that can significantly benefit Realtors and their clients. Our offerings include:


  • HECM for Purchase: Perfect for buyers aged 62+ (proprietary products 55+), allowing them to purchase a new home by converting home equity or a down payment into financing, with no monthly mortgage payments required. It's an excellent way to simplify the buying process for your clients.


  • Purchasing a Condo with HECM: For those eyeing a condo, HECM can be the key, although not all condos qualify.


  • Proprietary Products for Non-HECM Condos: If a condo doesn't meet HECM criteria, we have alternative proprietary reverse mortgage products that can make the purchase possible.


  • Jumbo Reverse Mortgage for Purchase: Catering to clients with luxury or high-value home aspirations, offering up to $4 million in financing without traditional mortgage payments.



Leverage Our Tools for Better Client Outcomes


Use our   Reverse Mortgage Calculator  at the top of the page to estimate how much of the purchase price can be financed through a HECM for Purchase. This tool is invaluable for providing your clients with a clear picture of their potential financing options, helping you advise more effectively.


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