Reverse mortgage calculator results are an estimate and not and offer to lend.
Please use our free calculator to determine how much you may be eligible to borrow with a reverse mortgage. This calculator is based on the FHA Home Equity Conversion Mortgage program. The amount you are eligible to borrow is influenced by several factors:
Home Value – Please enter an estimate of your home’s value. Should you decide to proceed with a reverse mortgage, we will need to order an FHA appraisal of your home.
Age – In order to be eligible for a reverse mortgage either you or your spouse must be at least 62 years of age. Typically, the older you are, the more you are eligible to borrow.
Interest Rate – FHA’s formula for determining how much you are eligible to borrow is highly interest rate sensitive. Currently we are able to offer maximum possible proceeds, however; should rates rise in the future, available proceeds may be reduced.
We will immediately provide you with an estimate of the available reverse mortgage proceeds. If you should have any questions, or if you would like a more detailed quote please call us today. There are a number of different reverse mortgage options available today. We will be happy to provide you with a complimentary analysis of these options, customized to your personal circumstances.
These materials are not from HUD or FHA and were not approved by HUD or a government agency.