Question 1

What is a reverse mortgage?

Accepted Answer

A reverse mortgage lets homeowners 55 or older convert a portion of their home equity into cash, a line of credit, or to eliminate their existing monthly mortgage payment. The loan is repaid when the home is sold, the borrower moves out, or the last borrower passes away.

Question 2

What programs does this calculator estimate?

Accepted Answer

It returns side-by-side estimates across HECM (FHA-insured for 62+), HomeSafe (proprietary 55+), and Choice Fixed Max (proprietary 55+) so you can compare available funds, cash at closing, and any line of credit.

Question 3

Do I need to provide my Social Security number or credit check?

Accepted Answer

No. The calculator only needs property value, location, mortgage balance, and date of birth to return an estimate. Phone verification is used only to save and email your personalized PDF.

Question 4

Is this an offer to lend?

Accepted Answer

No. The figures shown are an estimate for informational purposes only and do not constitute a loan offer. A licensed specialist will review your specific situation before any application.