Product Name | CMT Monthly Cap 5 | HomeSafe | EquityPower |
Margin Or Rate | 2.500% | 9.450% | 8.990% |
Initial Rate | 6.580% | 9.450% | 8.990% |
Mip Rate | 0.500% | 0.000% | 0.000% |
Property Value | $700,000.00 | $700,000.00 | $700,000.00 |
Principal Limit | $286,300.00 | $212,800.00 | $228,200.00 |
Liens Payoff | $150,000.00 | $150,000.00 | $150,000.00 |
Origination Fee | $6,000.00 | $2,128.00 | $5,305.00 |
Mip | $14,000.00 | $0.00 | $0.00 |
Other Closing Costs | $4,907.00 | $5,990.05 | $8,840.05 |
Available Funds | $111,393.00 | $54,681.95 | $64,054.95 |
Available Loc | $111,393.00 | ||
Available Tenure | $713.00 | ||
Available Cash At Closing | $28,630.00 | $54,681.95 | $64,054.95 |
The Complete Guide to Jumbo Reverse Mortgages:
Calculate Your Loan
Maximize Your Equity: Jumbo Reverse Mortgage Calculator Explained
A Jumbo Reverse Mortgage calculator is a specialized tool designed for homeowners with high-value properties who are looking to leverage their home equity. This calculator takes into account the unique aspects of jumbo loans, including higher home values and loan limits, providing an accurate estimate of the potential loan amount available. This calculator offers a clear financial outlook, helping seniors make informed decisions about their financial future.
For seniors with high-value homes, a Jumbo Reverse Mortgage can offer substantial financial benefits. Unlike standard reverse mortgages, jumbo loans cater to properties that exceed the Federal Housing Administration's (FHA) limits, making it possible for homeowners to access a larger portion of their home equity. This can translate into significant tax-free cash that can be used for various needs, such as healthcare expenses, home renovations, or enhancing one's lifestyle during retirement. Additionally, there are no monthly mortgage payments required, allowing seniors to enjoy financial flexibility and peace of mind.
Reverse Mortgage Advantages: Why It Could Be the Perfect Solution
At Opulence Home Equity, we are dedicated to providing expert guidance and support throughout the reverse mortgage process. Our Jumbo Reverse Mortgage calculator is just one of the many tools we offer to help you explore your financial options. Our experienced team is here to answer your questions, provide personalized advice, and assist you in making the best decisions for your unique situation. With our help, you can unlock the full potential of your high-value home and achieve the financial security you deserve.
Reverse Mortgage Qualifier