This calculator is provided for illustrative purposes only and is not a quote. Actual closing costs and FHA insurance will be reflected in your full individual quote and proposal. Calculation based on a 1-Year CMT, Monthly adjusting ARM program with an initial interest rate of InitialRate% as of . Maximum APR (Annual Percentage Rate)“InitialRate” + 5%. Estimated fees, including up-front FHA mortgage insurance premium range from $11,000 to $16,447 depending on the value of the home (included in mortgage). Closing costs vary from state to state and can affect benefit amount. Please check with your HECM Loan Officer for actual figures. Fixed rate options also available. Mutual of Omaha Mortgage Inc., NMLS ID 1025894. These materials are not from, or approved by, HUD, FHA or any Government Agency. Subject to credit approval. www.nmlsconsumeraccess.orgv
Advisors: To use “Estimated Lifetime Tenure Amount” in Navigator, open Retirement Income Distribution, Reverse Mortgage Tab and select “Provide Monthly Income”. Input the Tenure amount in the “Monthly Income Amount” field. Be sure to check the box “For Lifetime”.
To use “Estimated Available Benefit Amount” in Navigator, open Retirement Income Distribution, Income Sources tab. Input the Lump Sum benefit amount in the “Amount” field. Be sure to select “Reverse Mortgage” as the Income Type and select “Lump Sum”.