HECM

Reverse Mortgage Examples

Example #1 - Mary & John Homeowner
Age: Mary 73  & John  75
Home value:  $290,000
Location: Long Beach, CA
Equity:  $290,000
Mary & John would receive a lump sum payment or a credit line of $174,923 or monthly income of $1117.
Example #2 - Mike & Jan Spencer
Age:  Mike 69  & Jan  70
Home value:  $170,000
Location: Dallas, TX
Equity: $170,000
Mike & Jan would receive a lump sum payment or a credit line of $94,372 or monthly income of $583.
Example #3 - Jane Smith
Age:   Jane 83
Home value: $100,000
Location: Oklahoma City, OK
Equity: $100,000
Jane would receive a lump sum payment or a credit line of $67,341 or monthly income of $540.

Please Note: The above calculations we base on rates as of 04/28/2004 at a rate of 3.00%. All reverse mortgages have adjustable rates and the loan proceeds are based on the current interest rate at the time of closing.