The Reverse Mortgage Calculator is only to be used as a tool to get a general idea. For a more accurate figure contact a licensed reverse mortgage lender about your specific situation. If you would like to speak with a Reverse mortgage lender about your reverse mortgage options call (855) 667-9290 to get started.
Balance, that is outstanding on a reverse mortgage, grows significantly over a certain period of time. Apply this calculator to estimate the amount of a reverse mortgage after your specified number of years.
- Lump sum advance
- The initial value on the reverse mortgage.
- Number of years after which you have planned to draw.
- Monthly loan advance
- Amount of money you are planning to receive monthly.
- Interest rate
- Yearly rate of interest on the loan.