How Much Can I Get From a Reverse Mortgage?

The amount you can receive from a reverse mortgage depends on the following:

• your age at the time of application;
• the type of reverse mortgage you choose;
• amount of equity in your home;
• current interest rates;
• your home's current market value.

Generally speaking, the older you are, the more valuable your home, and the more equity you have in it, the larger your reverse mortgage will be. Borrowers can receive the reverse mortgage amount in monthly payments, as a line of credit, or in a single lump sum. Many homeowners choose a reverse mortgage line of credit, which allows borrowers to determine how much they receive at any given time.