• Question
  • HOW MUCH EQUITY DO I NEED TO HAVE A REVERSE MORTGAGE BY YOU

    Asked by a 66 year old woman from EL PAO, TX on 6/18/2012

    HOW MUCH EQUITY DO I NEED TO HAVE A REVERSE MORTGAGE BY YOU?

  •  
  • Categories: Reverse Mortgages, Qualifying

Answers

Toll Free 866-477-0404
  • Steve 


    NewRetirement

    San Francisco, CA

    Get a FREE phone consultation
    with an advisor. Learn more...
  • 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.
    https://www.newretirement.com/retirement-calculator/default.aspx

    If you are only interested in Reverse Mortgages, you can use the Reverse Mortgage Calculator
    https://www.newretirement.com/Services/Reverse_Mortgage_Calculator.aspx

    Or, browse our articles to learn more about the pros and cons of this product.
    http://www.newretirement.com/Services/Reverse_Mortgage.aspx

  • Login to rate this answer:   Answered on 6/19/2012
**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.