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Reverse Mortgage — Access Home Equity

HECM for 62+. No monthly payments. Repaid when you sell, move, or pass away.

Concept Fundamentals
$192,000
Principal Limit
$142,000
Available Funds
$592
Monthly Payout
$142,000
Line of Credit

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Age 62+ required HUD counseling required Non-recourse Heirs inherit equity

Key figures
$192,000
Principal Limit
Key figure
$142,000
Available Funds
Key figure
$592
Monthly Payout
Key figure
$142,000
Line of Credit
Key figure

Ready to run the numbers?

Why: Reverse mortgages let seniors access equity without monthly payments. Non-recourse: never owe more than home value.

How: Principal limit based on age, home value, rate. Older + higher value = more available.

Age 62+ requiredHUD counseling required
Sources:HUD HECMNRMLA

Run the calculator when you are ready.

Calculate HECM

Reverse Mortgage Calculator

HECM • Principal limit • Payout options

Sample Scenarios

Property & Borrower Info

Current market value
$
Youngest borrower (min 62)
years
Expected rate
%
Balance to pay off
$
reverse_mortgage.sh
CALCULATED
$ calculate --home-value=$400,000 --age=70
Principal Limit
$192,000
Available Funds
$142,000
Monthly Tenure
$592
10-Year Equity
$177,156
Or receive $592/month for 20 years with tenure payments.
Reverse Mortgage Calculator
Available Funds
$142,000
Or $592/mo tenure (20yr)
numbervibe.com

Calculation Breakdown

Property & Borrower

Home Value$400,000
Borrower Age70 years
Interest Rate6.5%
Existing Mortgage$50,000

Principal Limit

Max Claim Amount$400,000
Principal Limit Factor48%
Principal Limit$192,000
Less Existing Mortgage$50,000
Available Funds$142,000

Payment Options

Lump Sum Available$142,000
Monthly Tenure (20yr)$592
Line of Credit$142,000

10-Year Projection

Home Value (3% growth)$537,567
Loan Balance$360,410
Remaining Equity$177,156

Get AI-Powered Analysis

Get personalized reverse mortgage guidance.

1. Key Takeaways

  • • Never owe more than home value (non-recourse)
  • • Heirs inherit remaining equity
  • • Must maintain home, pay taxes/insurance
  • • HUD counseling required

2. Understanding Reverse Mortgages

HECM lets 62+ access equity without monthly payments. Repaid when you sell, move, or pass away.

Options

  • • Lump sum
  • • Tenure (monthly)
  • • Line of credit

Requirements

  • • Age 62+
  • • Primary residence
  • • HUD counseling

3. How It Works

Principal limit = f(age, home value, rate). Older + higher value = more.

4. Expert Tips

HUD counseling

Required before applying

LOC growth

Unused credit grows

5. Payout Options

OptionDescription
Lump sumOne-time payment
TenureMonthly for life
LOCDraw as needed

6. FAQ

Non-recourse? Never owe more than home value.
Heirs? Can inherit remaining equity.

7. Quick Stats

62

min age

HECM

FHA insured

8. Sources

HUD HECM program; NRMLA.

9. Disclaimer

Estimates only. Consult HUD-approved counselor.

For educational and informational purposes only. Verify with a qualified professional.

💡 Money Facts

62

Min age

— HECM

Non-recourse

Never owe more

— Protection

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