How Much Money Can I Get From a Reverse Mortgage?

To see how much money you can get from a reverse mortgage or to find out what the maximum loan amount will be, it is necessary to contact a licensed FHA-HECM lender for accurate figures.

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How Much Money Can I Get From a Reverse Mortgage?

The reason you cannot calculate this for yourself, by simply using a Loan to Value (LTV) percentage, is because each borrower’s loan amount has to be customized individually based upon the age of the youngest homeowner on the title to the home, the current market value of your home, and the current interest rates.

Additionally, there are 3 to 5 different loan types that you will be able to select from and each one of those will offer you a different loan amount and a different interest rate.

The mathematical formula is complex and requires sophisticated software, which is updated weekly if interest rates change. Consequently, only licensed reverse mortgage lenders have access to the software.

Sometimes folks get frustrated when they ask “How much money can I get from a reverse mortgage?” and the answer is not a simple, 60, 70 or 80%, like they are used to hearing from traditional “forward” lenders.

Reverse mortgage loan amounts MUST be customized for each borrower, they are not a “one-size-fits-all” type of loan. You are welcome to request a free, no obligation quote. Just click below to get started. We’re happy to help, and there is no sales pressure here.

Free Reverse Mortgage Quote