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Our reverse mortgage calculator can help you determine how much money you might qualify to receive in a lump-sum payment. No personal information is required to calculate your estimate. Start by inputting your property type, estimated home value, ZIP code, outstanding mortgage balance (if applicable) and the youngest co-borrower’s age (if ...
Reverse Mortgage Calculator. Use the reverse mortgage calculator to help determine the balance of a reverse mortgage. This calculator is specifically designed to show you how the outstanding balance of a reverse mortgage can rapidly grow over a period of time. Your estimated total is $739,222.63 after 10 years. * indicates required.
- Step 1 – Enter Your Age and Home Value
- Step 2 – Enter Mortgage Balances and Payments
- Step 3 – Select Your State
- Step 4 – Select A Payout Option
- Step 5 – Confirm and Calculate
- Reverse Mortgage For Purchase Calculator
The proceeds are calculated as a percentage of your home’s value based on the age of the youngest borrower (or non-borrowing spouse). Enter the age of the youngest borrower (or non-borrowing spouse) and your home’s estimated market value in the fields on this page. 1. Age (of youngest borrower) –Enter the age of the youngest borrower (or non-borrow...
A HECM reverse mortgage can eliminate existing mortgage payments, which can save you thousands of dollars per year. That’s money that can be used for other things, such as home improvements, travel, etc. Enter the total mortgage balances owed, total mortgage payments, and the years left on your mortgage on this page of the reverse mortgage calculat...
Select the state where the property is located. Per HUD/FHA requirements, a HECM reverse mortgage is only for a primary residence that you live in for the majority of the year. No second homes or rental properties. 1. Select your state –Select the state where the property is located. Click the Next button to continue to Step 4.
Our HECM calculator offers the ability to calculate multiple payout options. Most HECM reverse mortgage calculators online only calculate lump sum. Select which payout option you would like to calculate using the drop down box on this page. You can always select a different option later and run the numbers again. 1. Select a payout option – The cho...
This page displays the information you’ve already entered. Confirm the information you entered is accurate, then click the Calculate button. The calculation results will display on the next page. As we promised, no personal information was required! The top of the Calculation Results page displays results for the two primary HECM products: the vari...
Not many people know that you can buy a house with a reverse mortgage. You bring in your down payment, the bank finances the rest with no monthly mortgage payment. All you have to do is live in the home and pay the required property charges. If you’d like to calculate a possible down payment, check out our purchase reverse mortgage calculator.
People also ask
What is a reverse mortgage calculator?
How do I use a reverse mortgage amortization calculator?
How do I apply for a reverse mortgage?
How do I calculate a HECM reverse mortgage?
Here is how our reverse mortgage calculator works, In Step 1 we will ask you to provide your age, estimated home value and how much money you owe on your current home loan. If your home is paid in full, please select $0. In Step 2, we will ask you to provide information about your property.
Reverse Mortgage Calculator. Use the reverse mortgage calculator to help determine the balance of a reverse mortgage. This calculator is specifically designed to show you how the outstanding balance of a reverse mortgage can rapidly grow over a period of time. Your estimated total is $739,222.63 after 10 years. * indicates required.
We've simplified the process with MoneyGeek's Reverse Mortgage Calculator. With just a few inputs, learn how much you can borrow under several different plans. Your results will change if you have a mortgage against your home.
Welcome! You’ve found one of the best (if not the best) reverse mortgage purchase calculators online. Our calculator is updated and current for 2024 based on the latest FHA principal limit and principal limit factor tables. You’ll be able to quickly and easily calculate your down payment for a reverse mortgage purchase.