Reverse Mortgage Calculator (HECM Calculator)
Alert! New Lower Margin provides even more money, call for your personal quote or complete our questionnaire below
Please enter your age and property details for a quick illustration of your available reverse mortgage proceeds.
If you would like an amortization schedule that projects how much interest you owe year by year please call.
Toll Free (888) 801-2762 Ext. 1 or complete our secure questionnaire.
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Calculator Results Explained:
Available Loan = This is the principle limit available to you based on your age, HUD lending limit, and current interest rates (access rates and current lending limits)
Mortgages or Liens = This amount will be used to payoff any exciting home loans or secured liens on the property. (1st TD, 2nd TD)
Up front Lump Sum = Any amount of money you would like to take as cash at closing. (Cash Advance)
Line of Credit = You may take your available funds as a line of credit that grows with your age (5-6% year of unused portion) You will only be charged interest on money you borrow.
Monthly Income = Called the Tenure Payout (payments for life) You may choose to receive your money as monthly installments for LIFE, tax-free and guaranteed as long as you live in your home
Important Notes:
*Not all programs are built into our calculator such as Jumbo Programs for High-Valued Homes. If you have a significant equity position and a high valued home please call in or complete online questionnaire for all available options.
*Tax-Free: Always consult your trusted tax-professional
*Calculator results are for illustration purpose only and are not an offer to lend. If you wish to receive a formal quote with an estimate of all loan charges, as well as an amortization schedule that will show interest accrued year by year please contact one of our reverse mortgage specialists or complete our secure online questionnaire.
*Caluclator provided by ReverseVision
