- What Is a Reverse Mortgage: The Simple Answer
- Benefits of Reverse Mortgages for Seniors: Learn the Benefits and Advantages that Come from Reverse Mortgages
- Reverse Mortgage Counseling: Learn About the Types of Reverse Mortgages and Find Out Which Type is Best for You
- Comparing Reverse Mortgage Consultants: Find Out What Makes Reverse Mortgage Consultants Different
- Visit our Reverse Mortgage Information Page to learn more
Calculating a Reverse Mortgage
Reverse mortgage amounts may vary based on many factors including your age, home value, equity in your home and current interest rates.
To estimate how much you may qualify for, contact a reverse mortgage consultant.
There are several ways that you can decide to receive remaining proceeds depending on the loan product you choose:
- A single lump sum payment.
- A credit line account for a set dollar amount. You can use this credit line as you like, taking withdrawals of any amount when needed. (Adjustable rate product only)
- A monthly payment. This can be given for a set period of time (term payments) or for as long as you live in your home (tenure payments). (Adjustable rate product only)
- A combination of these options. (Adjustable rate product only)
- Available amount under all payments options may be restricted in the first 12 months. A reverse mortgage consultant will discuss options with you.