Search Results for: reverse mortgage calculators

Reverse Mortgage Calculators

...Calculating the Advantages For many senior homeowners, there are untapped and valuable sources of funds from the equity in their homes. Reverse mortgage calculators can help senior homeowners decide whether this home equity finance option is right for them. Calculators provide a simple way to outline the value of... more

Mortgage Calculators

...When looking to purchase a house for the first time, or move into a new house, one of the best tools available is a mortgage calculator. Mortgage calculators are typically used to help with budgeting and comparing the overall costs of different houses with varying prices, tax rates, and... more

What Is A Reverse Mortgage

...a mortgage to purchase a home, they make payments to a lender. Each payment gives them ownership, or equity, in their home. If homeowners obtain a reverse mortgage, a lender pays them money. The money can be a lump sum or a series of payments. The funds can generally be... more

How to Never Miss a Mortgage Payment

...When you purchase a home, your mortgage payment may feel like a hundred-pound brick resting on your shoulders. The stress and fear of missing a payment or even being late can keep you up at night. Luckily, there are several strategies you can employ to make sure that a... more

Mortgage Terminology You Need to Know

...Although home lenders can be difficult to understand at times, they are not speaking a foreign language. By understanding these common mortgage terms, borrowers can feel confident when buying or refinancing their homes. Mortgage A residential mortgage is a contract that lets individuals pledge their homes as collateral for... more

FHA Reverse Mortgages For Seniors

...This federal program helps homeowners age 62 or older to become more financially secure by using the equity in their home as a source of funds. A reverse mortgage is a loan, and homeowners can use the money as they wish. Many people use money as income to make... more

Common Questions About Federal Reverse Mortgages

...The United States Department of Housing and Urban Development (hereinafter “HUD”) provides a reverse mortgage program to help homeowners use the equity in the home while retaining ownership and continuing to occupy it. A reverse mortgage is a loan based upon the value of a home; it can improve... more

8 Tips on Selecting the Right Mortgage Lender

...Choosing the right mortgage lender can be confusing and stressful, especially for first-time homebuyers. Should a person go with the commercial bank that does lots of advertising, the community bank with hometown connections or the online lender with low rates? Instead of investing $250,000 or more on a “guess,”... more

Using Tax Calculators To Maximum Advantage

...Tax Calculators For Every Season Tax calculators give every taxpayer a chance to find the best approach to meeting the annual legal obligations. In recent years, the Congress has made significant amendments to the tax codes; taxpayers must carefully consider how the changes affect their situations. Because the tax... more

FHA in a Nutshell

...Home Equity Conversion Mortgage, which is a reverse mortgage program for seniors 62 and older. The bank makes monthly payments to the owner of an owner-occupied single-family residence or owner-occupied multi-family residence. When the owner stops living in the home or the property has been sold, the loan proceeds must... more