Reverse Mortgages

Find a reverse mortgage calculator, explore reverse mortgage pros and cons and get reverse mortgage explained.

A reverse mortgage is a loan. You are borrowing against your home equity. However, unlike traditional mortgages, with a reverse mortgage you do not have to pay back the money borrowed as long as you are living in the home.

When you get a reverse mortgage, you are borrowing your own home equity. (Home equity is the difference between what your home is worth and the amount you owe on your home.) So if your home is appraised at $300,000 and you still owe $50,000 on the mortgage, then you have $250,000 in home equity.

Use a reverse mortgage calculator to estimate your own loan amount. These systems estimate the amount of money you get with an equation using the appraised value of your home, the amount of money you owe on the home, your age and current interest rates.

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Reverse mortgages actually have 4 big benefits, all helping you with retirement! How to Get the Best Reverse Mortgage Loan Amount Getting a mortgage is one of the biggest financial decisions you’ll ever make. Shop around to find the best rate and lowest fees. Click here to quickly find out if you qualify and how…

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