Reverse mortgage calculator details
Our reverse mortgage calculator lets you easily find out how much you can borrow on the equity in your home. It takes less than a minute to enter your information in the fields above and get the lump sum you can borrow. It’s easy to calculate the reverse mortgage amount and it can also be made available as a monthly annuity or line of credit.
Please note that there are no restrictions as to how you can use the money and many seniors use it to pay for remodeling, medical expenses or help supplement monthly bills. You maintain ownership of your house and live in it during the term of the loan. Please be aware that that one of the titleholders needs to be at least 62 years old and the house needs to be your primary residence.
One of our reverse mortgage experts may contact you as a part of using this tool. For more details and a deeper understanding of the reverse mortgage process, you can also contact a Quontic Bank loan officer at 1-800-388-7689. This reverse mortgage calculator is provided for general estimates. The lump sum quoted here is an estimated loan amount, before paying off mortgages and other fees. The loan distributions occurs in two parts – one in year one and one after year one.