Reverse Mortgage Calculator

This version of Reverse Mortgage Engine (calculator) has been redesigned. It is launched faster and responds better. This app yields the max claim amount, mandatory obligation, principle limit, mortgage insurance premium (MIP), total amount of qualifying fund, cash at closing(first year), and line of credit (2nd year). These numbers will be shown, after four input values of Age, Third Party Cost, Property Value, and Existing Mortgage are inserted into appropriate boxes. Reverse Mortgage is a HUD program for senior citizens who are 62 year old or more. With new regulations, only loan with adjustable rates are qualified for the line of credit (2nd year). The rate that is calculated in this application is based on the borrower's maximum benefit with the expected rate under 5.06 percent. For more information, please contact info at americagoldinc dot com.
Disclaimer: Although this application produces accurate numbers but the result is an estimate and should not be relied upon by consumers. Please consult your lender or mortgage broker.