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Reverse Mortgage Calculator
FHA HECM Lending Limit 2025 - $1,209,750
All the math is based off a maximum home value of $1,209,750
Platinum 4.0 is our Jumbo Option - No limit on home value starting at $450K
Glossary:
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This refers to the specific type of reverse mortgage product being offered. Different products may have varying features, benefits, and terms that cater to different needs.
The initial interest rate on the reverse mortgage loan. This rate is often adjustable and can change over time based on the loan's index and margin.
This is a 10 year projected interest rate average used to calculate the principal limit of a reverse mortgage (Or what a borrower qualifies for). It's not the rate at which interest accrues on the loan balance. Instead, it's used to estimate the loan's future balance and the amount of home equity that might be left over time.
Mortgage Insurance Premium rate. For HECM loans, this insurance is required by the FHA and protects both the lender and borrower. The MIP ensures that if the company managing your account (the lender) goes out of business, the government will step in and make sure you have continued access to your loan funds as this loan is guaranteed. It also guarantees that you will never owe more than your home is worth.
The appraised value of your home. This is used to determine the maximum amount you can borrow with a reverse mortgage.
The maximum amount you can borrow through a reverse mortgage. It's based on the youngest borrower's age, the home's value, and the expected interest rate.
The amount of money from the reverse mortgage that will be used to pay off existing liens or mortgages on the property. This ensures the reverse mortgage is in the first lien position.
The amount of money available to the borrower from the reverse mortgage after paying off existing liens and closing costs. This can be accessed through various payment options depending on the product chosen.
If the reverse mortgage product includes a line of credit option, this is the amount available to the borrower that can be drawn upon as needed. The unused portion of the line of credit may grow over time, depending on the product's terms.
This refers to the amount of cash available to the borrower at closing after all liens and closing costs have been paid. Depending on the reverse mortgage product and the borrower's choices, this could be a lump sum or part of a structured payment plan.
Inclusion of the reverse mortgage calculator on this page should not be construed as advice or recommendations regarding the appropriateness of a reverse mortgage to a viewer’s individual circumstances. If website visitor makes use of the reverse mortgage calculator contained within or linked to this site, he or she acknowledges that the information resulting from the use of any such calculator is intended to be used for illustrative and educational purposes only and is not, and should not be construed, as the receipt of, or a substitute for, personalized individual advice from City First Mortgage Services, LLC or from any investment professional. Not all services will be appropriate or necessary for all clients, and the potential value and benefit of the adviser’s services will vary based upon a variety of factors, such as the client’s investment, tax, and financial circumstances and overall objectives. Neither personalized nor tailored services should be construed as a guarantee of a particular outcome. Past performance does not guarantee future results. All investing comes with risk, including the risk of loss.
This refers to the specific type of reverse mortgage product being offered. Different products may have varying features, benefits, and terms that cater to different needs.
The initial interest rate on the reverse mortgage loan. This rate is often adjustable and can change over time based on the loan's index and margin.
This is a 10 year projected interest rate average used to calculate the principal limit of a reverse mortgage (Or what a borrower qualifies for). It's not the rate at which interest accrues on the loan balance. Instead, it's used to estimate the loan's future balance and the amount of home equity that might be left over time.
Mortgage Insurance Premium rate. For HECM loans, this insurance is required by the FHA and protects both the lender and borrower. The MIP ensures that if the company managing your account (the lender) goes out of business, the government will step in and make sure you have continued access to your loan funds as this loan is guaranteed. It also guarantees that you will never owe more than your home is worth.
The appraised value of your home. This is used to determine the maximum amount you can borrow with a reverse mortgage.
The maximum amount you can borrow through a reverse mortgage. It's based on the youngest borrower's age, the home's value, and the expected interest rate.
The amount of money from the reverse mortgage that will be used to pay off existing liens or mortgages on the property. This ensures the reverse mortgage is in the first lien position.
The amount of money available to the borrower from the reverse mortgage after paying off existing liens and closing costs. This can be accessed through various payment options depending on the product chosen.
If the reverse mortgage product includes a line of credit option, this is the amount available to the borrower that can be drawn upon as needed. The unused portion of the line of credit may grow over time, depending on the product's terms.
This refers to the amount of cash available to the borrower at closing after all liens and closing costs have been paid. Depending on the reverse mortgage product and the borrower's choices, this could be a lump sum or part of a structured payment plan.
Glossary
Inclusion of the reverse mortgage calculator on this page should not be construed as advice or recommendations regarding the appropriateness of a reverse mortgage to a viewer’s individual circumstances. If website visitor makes use of the reverse mortgage calculator contained within or linked to this site, he or she acknowledges that the information resulting from the use of any such calculator is intended to be used for illustrative and educational purposes only and is not, and should not be construed, as the receipt of, or a substitute for, personalized individual advice from City First Mortgage Services, LLC or from any investment professional. Not all services will be appropriate or necessary for all clients, and the potential value and benefit of the adviser’s services will vary based upon a variety of factors, such as the client’s investment, tax, and financial circumstances and overall objectives. Neither personalized nor tailored services should be construed as a guarantee of a particular outcome. Past performance does not guarantee future results. All investing comes with risk, including the risk of loss.
FHA HECM Lending Limit 2024 - $1, 149, 825
All the math is based off a maximum home value of $1, 149, 825
Platinum 4.0 is our Jumbo Option - No limit on home value starting at $1.2M
Reverse Mortgage Calculator
Glossary:
Inclusion of the reverse mortgage calculator on this page should not be construed as advice or recommendations regarding the appropriateness of a reverse mortgage to a viewer’s individual circumstances. If website visitor makes use of the reverse mortgage calculator contained within or linked to this site, he or she acknowledges that the information resulting from the use of any such calculator is intended to be used for illustrative and educational purposes only and is not, and should not be construed, as the receipt of, or a substitute for, personalized individual advice from City First Mortgage Services, LLC or from any investment professional. Not all services will be appropriate or necessary for all clients, and the potential value and benefit of the adviser’s services will vary based upon a variety of factors, such as the client’s investment, tax, and financial circumstances and overall objectives. Neither personalized nor tailored services should be construed as a guarantee of a particular outcome. Past performance does not guarantee future results. All investing comes with risk, including the risk of loss.
This refers to the specific type of reverse mortgage product being offered. Different products may have varying features, benefits, and terms that cater to different needs.
The initial interest rate on the reverse mortgage loan. This rate is often adjustable and can change over time based on the loan's index and margin.
This is a 10 year projected interest rate average used to calculate the principal limit of a reverse mortgage (Or what a borrower qualifies for). It's not the rate at which interest accrues on the loan balance. Instead, it's used to estimate the loan's future balance and the amount of home equity that might be left over time.
Mortgage Insurance Premium rate. For HECM loans, this insurance is required by the FHA and protects both the lender and borrower. The MIP ensures that if the company managing your account (the lender) goes out of business, the government will step in and make sure you have continued access to your loan funds as this loan is guaranteed. It also guarantees that you will never owe more than your home is worth.
The appraised value of your home. This is used to determine the maximum amount you can borrow with a reverse mortgage.
The maximum amount you can borrow through a reverse mortgage. It's based on the youngest borrower's age, the home's value, and the expected interest rate.
The amount of money from the reverse mortgage that will be used to pay off existing liens or mortgages on the property. This ensures the reverse mortgage is in the first lien position.
The amount of money available to the borrower from the reverse mortgage after paying off existing liens and closing costs. This can be accessed through various payment options depending on the product chosen.
If the reverse mortgage product includes a line of credit option, this is the amount available to the borrower that can be drawn upon as needed. The unused portion of the line of credit may grow over time, depending on the product's terms.
This refers to the amount of cash available to the borrower at closing after all liens and closing costs have been paid. Depending on the reverse mortgage product and the borrower's choices, this could be a lump sum or part of a structured payment plan.
