Line of Credit Reverse Mortgage Calculator
Calculate your available line of credit with a reverse mortgage. Determine how much you can borrow based on home value, age, interest rates, and loan type.
Step 1: Home & Borrower Details
Understanding Reverse Mortgage Credit
The available line of credit is based on home value, borrower age, current interest rates, and loan type. Older borrowers and higher-value homes typically qualify for larger credit lines.
Step 2: Financial Details
About Reverse Mortgage Lines of Credit
Reverse mortgage lines of credit typically grow over time at the loan’s interest rate. You only pay interest on funds you actually withdraw, and the credit line increases each month.
Reverse Mortgage Line of Credit Results
Available Line of Credit
Reverse Mortgage Type Comparison
| Loan Type | Principal Limit Factor | Available Credit | Credit in 5 Years |
|---|
Credit Line Growth Over Time
Credit Calculation Formula
Available Credit = Home Value × Principal Limit Factor – Existing Mortgage
The principal limit factor is determined by the youngest borrower’s age, current interest rates, and loan type. The credit line grows at the loan’s interest rate each month.
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