REVERSE MORTGAGE CALCULATOR

Our reverse mortgage calculator will help you determine the amount of home equity available for a reverse mortgage loan or Home Equity Conversion Mortgage. As it is with any type of home equity loan, there are other costs and fees required for reverse mortgage or HECM. The exact costs depend upon the type of reverse loan and the fees charged by your reverse mortgage lender. Seniors opting for a FHA-insured HECM can expect to pay for costs of mortgage insurance protection (MIP), a loan origination fee, title insurance, recording fees, real estate appraisals, attorney's fees and a small monthly administrative charge. The costs of the loan can be financed with the principal, and ongoing charges can be added to the balance of the reverse mortgage loan each month. If you are senior homeowner who needs a source of tax-free income, contact Trinity Reverse Mortgage at 1-866-707-4664 for a "No Obligations" quote and other free reverse mortgage consulting services.

Once you've used our website's reverse mortgage calculator to determine the equity that's available in home, it's time to look at other considerations for a HECM loan. Your age and the amount of equity in your home are major factors used in qualifying you for a reverse mortgage and determining the cash amounts for a lump sum distribution, monthly reverse payment schedule or available home equity loan of credit (HELOC). With a reverse mortgage, the older you are . . . the easier it is to qualify and you can access more equity. The Federal Housing Administration establishes the reverse mortgage lender's interest rate ceiling on the first day of October each year. In California and other U.S. states, the mortgage bank "interest rate index" for a HECM loan is based on either the federal government's one-year T-Bill interest rates or the London Interbank Offered Rate (LIBOR). Fixed interest rates are also available. Any home financed by a FHA-insured reverse mortgage must also meet the agency's minimum standards for soundness and security. Give us a call today for a detailed reverse mortgage calculation and printout of your HECM costs.