How Much Money Can I Get?

How Much Money Can I Get?

The amount of cash you can get from a reverse mortgage depends on the program you select and - within each program - on your age, home, and interest rates.

It can vary by a lot from one program to another. A typical consumer might get $30,000 more from one program than from another. But no single program works best for everyone.

For all but the most expensive homes, the federally-insured "Home Equity Conversion Mortgage" (HECM) generally provides the most cash.

Within each program, the amount of cash you can get depends on the age(s) of the owner(s), the value of the home, and current interest rates. In general, the most cash goes to the oldest borrowers living in the homes of greatest value at a time when interest rates are low. On the other hand, the least cash generally goes to the youngest borrowers living in the homes of lowest value at a time when interest rates are high.

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Senior Finance Network - 10121 W Sample Rd. - Coral Springs, FL 33065
Toll Free: (800) 827-2599 Office: (954) 755-4663
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