Reverse loan calculators can provide a basic estimate of the amount of equity that a borrower can access. Here are two examples of A $200,000 home value at age 62 & age 75 documenting both HECM.
- $200,000 Value /62 Borrower age
- Fixed HECM"Standard" Max Loan $123.800
- 62% of Value
- Lien Payoff $25,000
- Loan Cost $9,500
- Funds Available = $89,300
- Fixed HECM "Saver" Max Loan $104,600
- 52% of Value
- Lien Payoff $25,000
- Loan Cost $5,500
- $200,000 Value / 75 Borrower age
- Fixed HECM"Standard" Max Loan $138,600
- 69% of Value
- Lien Payoff $25,000
- Loan Cost $9,500
- Funds Available = $104,100
- Fixed HECM "Saver" Max Loan $112,400
- 56% of Value
- Lien Payoff $25,000
- Loan Cost $5,500
No comments:
Post a Comment