Ask Terry Questions Reverse Mortgage — what can I get?

Reverse Mortgage — what can I get?

By Terry Savage on April 27, 2015 | Housing / Real Estate

I enjoyed your resent article “5 things to know about reverse mortgages in the Commentary column of the Business section of the Huntsville Times. I think it would be most helpful to the reader in understanding a reverse mortgage if you presented an example. For example, a 65 year old couple owning a $100,000 home, what could the expect to receive with and example current mortgage rate. Then comment on how it might increase if the mortgage rate was higher or lower, or if they were younger or older, etc.

Again, thank you for the informative article.

Terry Says:  That answer differs by location, home value, interest rates, and local demand.  That’s why I suggest readers go to and use the calculator, and to search for a lender in your area.



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