Choose the type of loan that’s right for you
Borrowers have choices when it comes to converting home equity into funds, and the differences between types of loans can be subtle. Here’s a quick comparison chart to help you determine which approach is right for you.
How much can you receive from a reverse mortgage?
The amount that is available generally depends on four factors: your age, the current interest rate, the appraised value of the home, and government-imposed lending limits. As with any mortgage, you must meet your loan obligations, keeping current with property taxes, insurance, and maintenance.