Free Reverse Mortgage Calculator
- Cost nothing (free) to estimate how much you can qualify for with a HECM loan – this is a pain free way to estimate the income/funds/interest rates from you reverse loan.
- Our calculator clearly displays every possible option within the HECM products – we will automatically display adjustable and fixed rate options as well as different income options depending on the general information you input ( we cover the HECM fixed/adjustable standard & Saver programs fixed/adjustable)
- Accurate – our interest rates displayed are current market rates, plus the actual results are those which banks would also receive if you called them ( this is a professional grade calculator which provides you with real estimations – enjoy.)
- easily compare the calculations for the HECM Standard fixed rate & adjustable rate, also this calculator shows the HECM Saver fixed rate & adjustable rate programs.
What are the factors which affect how much money you will receive with the reverse mortgage will this calculator take them into effect.
- you age ( the older you are the more equity you can take out )
- the amount of equity you have available ( the more equity you have available the more you can take out )
- property actual appraised value ( you will most likely be estimating the value of your home thus this can then lead to numbers being different – knowing the exact appraisal value is not possible – therefore the calculator can not predict this – it can only go by the numbers that you input – which should be close enough to provide valuable info.)
- ***many top lenders are now starting to review your financial position (which includes reviewing you credit scores, income, mortgage/insurance/taxes payment history) HUD has already approved this it is known as financial assessment*** our calculator is still based on the no credit check no income reverse mortgage – which we can still provide through a few selected banks/lenders nationwide.
- the reverse mortgage rates you receive on your HECM loan – the lower the rate the less fees you will pay over the life of the loan – thus more money will be available to you.
Benefits of using our reverse mortgage calculator
- this is one of the few calculators that does not require you to put you name or other personal information, other lenders will try take your personal details
- our calculator shows you all the different options of reverse mortgages
- receive accurate estimates as to how much you can qualify for
- we are able to compare the entire market if you want to receive real quotes
- you should be familiar with how much you can qualify for before you discuss you desire to get a reverse mortgage to other lenders in order to make sure you are getting the right amount of equity released
Need to find out the value of your home , simply put home address bellow.
Trying to calculate your reverse mortgage payment/income/funds available, instead of estimating this ever important number, why don’t you go ahead and get in contact with us so we can provide exact numbers. We can calculate exact numbers without sensitive information, at no cost to you, in just 5 minutes. If you prefer you can always just get a close estimate above, just enter in your details and the loan calculator will give you the estimates.
You can then take this precise Quote, speak to your loved ones, compare it, and feel better about getting a HECM reverse mortgage.
Who Can Qualify For a Reverse Mortgage
- must be 62 or older
- own a home with equity available
- house must be the one you live in (primary residence)
- never have defaulted on government debt
*** HUD has approved the ability for lenders/banks to review your personal financial information and to use this information to determine whether or not you qualify for a HECM reverse ( your income, credit scores, and payment history will impact the interest and ability to receive a reverse mortgage.)
Reverse Mortgage Calculators – How Much Equity Can you Release For Your Retirement
Reverse Mortgage Calculators provide reverse mortgage borrowers with an estimated pay out amount, in an instant manner. Our reverse mortgage calculators work by providing estimated numbers, these will be the closest numbers to your actual costs of borrowing a reverse mortgage. We strongly recommend you contact us so we can use our reverse mortgage calculators to give you an accurate quote instead of an estimate.
“find out how much your equity can provide you in income or funds. Many seniors are now enjoying the benefits of a reverse mortgage loan.”
- reverse mortgages allow for predictable income sources
- there is no risk of default on the payments since the government insures reverse mortgage loans
- you select how you want to receive the income ( monthly, lump sum, credit line )
- you keep ownership of the home
- there are no monthly payments to be made, which then eliminates risk of foreclosure
- you can leave the home to your heirs or estate
- if there is more equity in your home you can tap into that equity with your reverse
Have you thought about how much money you will need to retire on? With a reverse mortgage loan you are able to receive lifetime monthly income which is far more predictable than income from annuities or other investments. Also as the reverse mortgage is a federally insured loan you run no risks of defaults or companies going bankrupt.
Knowing how much you can qualify for is important, and we want to provide you with an accurate picture of how much youre going to be able to borrow with a reverse mortgage, fell free to contact one our reverse mortgage advisers -
1 877 700 0534
Last year alone some 100,000 seniors decided to receive this home equity loan in order to align their retirement needs, we believe this is one of the best methods for a senior to tap into that equity without having to sell.
FAQ about our free reverse mortgage calculator
How accurate is this HECM reverse loan calculator?
Our calculator is accurate – getting a real quote is more accurate but the technology behind the calculations are accurate.
What are factors which the calculator does not take into account that can change these numbers?
If i’m satisfied with the calculations how can I begin the process?
Give us a call at 877.700.0534 or complete a form online – we can get you an actual quote in under 1 hour – we compare multiple offers which saves you time and money.
Do you store my personal details or ask for my personal details to use the HECM calculator?
No, our calculator does not ask for or keep any of your information – some online calculators are simply there to collect your information then never actually gives you the calculations.
I dont understand the results can you explain to me the different HECM programs and the difference between them?
There are 4 HECM programs -below is an chart to describe each one
We recommend you read the following articles/pages:
reverse mortgages how they work
reverse mortgage information
reverse mortgage pros and cons
reverse mortgage interest rates
Reverse Mortgage Calculator | HECM Calculator updated for 2012 By Paul Galante – Add me to your circles
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