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Tag: reverse mortgage calculator

The Older You Are, The Greater Your Reverse Mortgage Benefits
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Reverse mortgages provide older homeowners with an additional source of cash flow to supplement, and even enhance, their retirement savings. Depending on a borrower’s age, there are several ways that older retirees can maximize their reverse mortgage potential. A reverse mortgage allows homeowners age 62 and older to convert a portion of their home equity…

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Reverse Mortgage

Who Wants Reverse Mortgage Information? Why? And, What Can They Get from These Loans?
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Reverse mortgages are popular financial products and popular debate topics.  Many people get a reverse mortgage to help finance retirement while some argue their value.  However, it seems that everyone wants reverse mortgage information and to estimate their potential reverse mortgage loan amounts. Who are these people?  What does a reverse mortgage offer them?  Why…

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FHA Updates Reverse Mortgage Program: More Money for Most New Borrowers
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New changes to the government’s reverse mortgage program will provide more money to most new borrowers as long as interest rates remain low. The Department of Housing and Urban Development (HUD) announced on Friday a new set of principal limit factors. Principal limit factors are the calculations used to determine the amount of money borrowers…

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New Research: Get a Reverse Mortgage Sooner, Not Later
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Today’s version of the saying “Strike while the iron’s hot” may apply to getting a reverse mortgage while interest rates are favorable, suggests new academic research recently published in the Journal of Financial Planning. You’ve probably seen commercials and other advertisements touting reverse mortgages, but what you may not realize is that there’s also brand…

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Top Ways for Retirees to Lock In Home Equity—and Grow It, Too
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For many retirees, the most important aspect of their retirement portfolios is stable investments. But what if you could find an investment that not only grows, but is also guaranteed by the federal government? Enter: reverse mortgages, and specifically the line of credit option available through the federally-insured Home Equity Conversion Mortgage pr oduct. The…

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How Interest Rates Can Have a Big Impact on Your Retirement
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Falling interest rates can often signal a negative impact on a long-term retirement portfolio, as a lower rate environment means less money saved for retirement. But low rates can also have a silver lining for retirees, especially when it comes to reverse mortgages. The Federal Reserve has been keeping downward pressure on interest rates post-recession in…

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Paying Back Your Reverse Mortgage in Advance: The Pros and Cons
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One of the biggest benefits to the home equity conversion mortgage program is that, unlike conventional mortgages or home equity loans or lines of credit, you are not required to make monthly payments toward the balance of the loan. The federally-insured HECM program requires that loans be repaid when the borrower dies, leaves the home,…

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Disclaimer: The content, calculators, and tools on NewRetirement.com are for informational and educational purposes only and are not investment advice. They apply financial concepts in a general manner and include hypotheticals based on information you provide. For retirement planning, you should consider other assets, income, and investments such as equity in a home or savings accounts in addition to your retirement savings in an IRA or qualified plan such as a 401(k). Among other things, NewRetirement provides you with a way to estimate your future retirement income needs and assess the impact of different scenarios on retirement income. NewRetirement Planner and PlannerPlus are tools that individuals can use on their own behalf to help think through their future plans, but should not be acted upon as a complete financial plan. We strongly recommend that you seek the advice of a financial services professional who has a fiduciary relationship with you before making any type of investment or significant financial decision. NewRetirement strives to keep its information and tools accurate and up to date. The information presented is based on objective analysis, but it may not be the same that you find on a particular financial institution, service provider or specific product's site. All content, tools, financial products, calculations, estimates, forecasts, comparison shopping products and services are presented without warranty.