It has to be run through the reverse mortgage portal, to give you an idea. Do you have a current mortgage on your property.
Reverse mortgage are very complex calculations, there are many variables and the costs are substantial (which impact how much cash is available to pay off a current debt or give you cash or a monthly check, but the benefits can be even more substantial. Its not just a straight percentage. If you are located in Colorado and would like to contact me I can walk through how it works and give you some numbers pretty quickly. 970-748-0342 or email me at mtnmortgageguy@gmail.com
Ballpark 63% Call me and we can drill it down to the exact amount Ralph Guertin CrossCountry Mortgage 954-274-7725 Ralph.Guertin@myccmortgage.com
More info needed, but based on the limited info you provided, you can get about 52%... here's the link to the reverse mortgage calculator. (copy and paste to your browser.) https://www.reversemortgage.org/About/Reverse-Mortgage-Calculator Reverse mortgages are calculated by using the age of the youngest person for married couples.. and it varies based on zip code and property value. I'm a preferred Lender with California and Arizona being my primary markets. If you or someone you know is looking for financing options, feel free to contact me or pass along my information. 480-287-5714 WilliamAcres.com NMLS# 226347 / LendUS, NMLS 1938/ AZMB0121893
Age, and value of the home, and what if any you currently own all come into play, so the answer is different for each person. Just reach out to a local mortgage broker who is experienced in reverse mortgages. With just a quick conversation, they can answer that for you.
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