Your Age and Reverse Mortgage Proceeds

The proceeds of a Reverse Mortgage are positively correlated with the age of the borrower. Borrowers aged 62 (lowest allowed) are eligible to receive a smaller net principal limit than a borrower aged 95.

The younger a borrower is the longer the reverse mortgage lender will have to wait for the loan to be repaid. Since the loan interest is generally paid from the equity in the home at death of the borrower, the amount of equity at the beginning of the reverse mortgage must pay for the projected interest and principal borrowed.

Eben Johnson Reverse Mortgage Specialist
www.mireverse.com