This calculator estimates what you may be able to receive from the federally-insured Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage loan. In order to obtain one of these loans, you and your co-borrower (if any) must be at least 62 years old.
How To Use It
This calculator was designed with ease of use in mind. Simply provide an estimate of your homes current value, what you owe on the home of your remaining mortgages (1st and 2nd if applicable) as well as the age of the oldest homeowner on title. This calculator will then present you with an estimate when it comes to what you may qualify for. Individual lender estimates may vary.
The information provided by this calculator is for illustrative purposes only and accuracy is not guaranteed. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a licensed reverse mortgage professional prior to relying on the results. This calculator does not have the ability to pre-qualify you for any loan program. Qualification for loan programs may require additional information such as credit scores and cash reserves which is not gathered in this calculator. Mutual of Omaha Mortgage does not guarantee any of the information obtained by this calculator.
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