The amount of equity borrowers need depends on:
Borrowers can get an estimate by clicking here for more details.
Home equity is the difference between a home’s value and the amount owed on any mortgages or other liens. It represents the portion of the home’s value that the borrower owns free and clear.
For example, if borrowers sell their home, the funds they receive after paying off any mortgages or loans would represent their home equity. Borrowers may also access their home equity without selling, such as through a second-lien loan like HomeSafe Second.
This article is intended for general informational and educational purposes only and should not be construed as financial or tax advice. For tax advice, please consult a tax professional. For more information about whether a reverse mortgage fits into your retirement strategy, you should consult your financial advisor.
