Estimate your potential loan amount for a refinance or new home purchase.
This loan would pay off your $0 mortgage balance, eliminating your required monthly principal & interest payments. Borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, and hazard insurance. The borrower must maintain the home.
Estimated Loan Amount:
$0
This product may not be available in your state – meet with a specialist to discuss your situation.
Estimated Loan Amount:
$0
This product may not be available in your state – meet with a specialist to discuss your situation.
Values are an estimate based on your inputs and are provided for informational purposes only. Actual proceeds vary based on (i) your home's appraised value, (ii) loan amount (iii) interest rates, (iv) product selection, (v) total closing costs and payoffs.
This is not a commitment to lend. It is important to make an informed decision when selecting and using a loan product; make sure to obtain a loan estimate to compare loan types when making a financing decision. The actual reverse mortgage amount will vary based on the factors of your transaction. Sample scenario is provided for illustration purposes only and is not intended to provide mortgage or other financial advice specific to the circumstances of any individual and should not be relied upon in that regard.
Borrowers who elect a fixed rate loan will receive a single disbursement lump sum payment. Other payment options are available only for adjustable rate mortgages. Borrower must meet all loan obligations, including living in the property as the principal residence and paying property charges, including property taxes, fees, and hazard insurance. The borrower must maintain the home. If the borrower does not meet these loan obligations, then the loan will need to be repaid. Otherwise, the loan must be repaid when the last borrower passes away or sells the home.
Prices, guidelines and minimum requirements are subject to change without notice. Some products may not be available in all states. Subject to review of credit and/or collateral; not all applicants will qualify for financing. This material has not been reviewed, approved or issued by HUD, FHA or any government agency. Guaranteed Rate is not affiliated with or acting on behalf of or at the direction of HUD, FHA or any other government agency.
To find a Reverse Mortgage counselor near you, search the HECM Counselor Roster at Counseling Agencies or call (800) 569-4287