![]() ![]() The inclusion of various education, information, web links, or materials are not an endorsement of the Sender or any of its employees or business partners. These costs include: Origination fees (which cannot exceed 6,000 and are paid to the lender) Real estate closing costs (paid to third-parties) that can include an appraisal, title search, surveys. We are not in any way affiliated with any organization listed or referenced within this website, including HUD/FHA/USDA/VA. Like with a traditional mortgage, borrowers will typically have to pay one-time upfront costs at the beginning of the reverse mortgage loan. Use the reverse mortgage calculator to help determine the balance of a reverse mortgage. They are independent of any government agency. These materials were not approved by any government agency. Typically speaking, a reverse mortgage calculator works by taking basic information about you and your home including your ZIP code, your age and that of any other borrower on the loan. ![]() These materials are not from HUD, FHA, the USDA, or the VA. All borrowers must qualify per program guidelines. To qualify for a reverse mortgage in Florida, you need to meet these basic requirements: The minimum age to apply is 62. Discover how much equity you have in your home by using a reverse mortgage calculator. Your average tax rate is 11.67 and your marginal tax rate is 22. Disclaimer: Programs subject to change without notice. If you make 70,000 a year living in Florida you will be taxed 8,168. Getty If you’re a homeowner at or near retirement age, you’ve probably seen plenty of TV commercials or heard ads on the radio about reverse mortgages. As prohibited by federal law, we do not engage in business practices that discriminate on the basis of race, color, religion, national origin, sex, marital status, age, because all or part of your income may be derived from any public assistance program, or because you have, in good faith, exercised any right under the Consumer Credit Protection Act. To speak with someone at Sunshine State Mortgage, please call (954) 258-9077.American Mortgage Solutions is an Equal Housing Lender. How much can you borrow from a lender Use this calculator to calculate the amount you can afford from the lenders point of view. Your estimated total is 703,381 after 10 years. This calculator is specifically designed to show you how the outstanding balance of a reverse mortgage can rapidly grow over a period of time. You are not required to enter into this agreement as a condition for doing any kind of business with Sunshine State Mortgage, and you can revoke this consent any time. Use the reverse mortgage calculator to help determine the balance of a reverse mortgage. By sharing your contact information, you express consent to Sunshine State Mortgage to contact you about your inquiry via phone call or text at the phone number and/or email address you provide using a manual or automated system. Before you apply, get an idea of how much you could afford for purchase or save with a. Please see our privacy notice for additional details.Ĥ. Use our mortgage calculator to estimate your mortgage payments. The estimates are based on the average current interest rate for a Home Equity Conversion Mortgage. As we are a financial institution, any personal identifying information submitted to us here will be used for the purpose of communicating with you or advertising to you now or in the future, with the hope of presenting you with financial products that may fit your need. We do not sell our subscriber email list to other parties. Be contacted about a mortgage at my phone number even if my phone number appears on a State or Nationalĭo Not Call Registry, or any other Do Not Contact List.ģ. ![]() Receive disclosures and communications about my loan inquiry in electronic form (I confirm that I haveĪ working computer system and internet website browser to view this webpage) andĢ. By clicking "Submit" I agree by electronic signature to:ġ. ![]()
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