An educational blog about home mortgages, financing, refinancing, mortgage rates, home loans, brokers and suggestions

Continuing on with reverse mortgages, let’s take a look at some numbers. Because reverse mortgages can be a tad confusing, I have provided an example:
A 75-year-old woman owns a home valued at $250,000. She qualifies for a HECM credit line of $135,484 with a 7% interest rate. At closing, she withdraws only $67,742 of the [...]