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Typically, you need 50% equity. However, the amount of money you will qualify for depends on several factors:
- Your age
- Home value
- Closing costs/interest rates
You can certainly find information on Reverse Mortgages and much more in the NewRetirement Retirement Calculator.
If you are only interested in Reverse Mortgages, you can use the Reverse Mortgage Calculator
Or, browse our articles to learn more about the pros and cons of this product.
**All above answers are provided as general information only. No warranty is made regarding the fitness or accuracy of the information provided in this answer. You should seek advice from a licensed CPA, attorney or CERTIFIED FINANCIAL PLANNER™ as to your unique financial situation.