How much equity needed in reverse mortgage?
Q: How much equity needed in reverse mortgage? What is the percentage I can borrow?
A: The amount of funds you can get with reverse mortgage, depends on your age or the age of the youngest spouse in the case of couples, the appraised home value, interest rates, and in the case of the government program, the lending limit in your area. In general, the older you are and the more equity you have, the more money you can get. Run your numbers in this reverse mortgage calculator, and you will see.
Thu Jan 15, 2009 12:01AM by Tony | More in Mortgage | Comments (0)
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