Receive Tax FREE Income

How you receive your money matters.

If you choose an adjustable rate line-of-credit or monthly payout, you can access your remaining funds after the first year. But if you choose a fixed-rate, lump-sum loan, you will only be able to access the amount permitted under the first-year withdrawal limits. The remaining loan amount is forfeited.

To start, you can use a reverse mortgage calculator to get a general idea of how much you may be eligible to borrow.

We will calculate for you how much you are authorized to borrow overall, based on your age, the interest rate, and the value of your home (or check the calculator above for an estimate). This number is known as your initial principal limit.

Generally, you can take out up to 60% of your initial principal limit in the first year. If the amount you owe on an existing mortgage (or other required payments) is more than 60% of this limit, you can take out enough to pay off your mortgage (and any other required payments, including upfront loan fees) plus cash of up to 10% of the initial principal limit.