December 31, 2024
We know how important it is for advisors to have quick, accessible information when discussing reverse mortgage benefits with clients. Our benefits chart provides a simple way to estimate the potential housing wealth available through a reverse mortgage.
How to Read the Chart:
- Locate your client’s nearest age (youngest spouse) and home value on the chart to see a general estimate of potential benefits.
- While these estimates offer a helpful starting point, each client’s situation is unique. For a more tailored analysis, you can request a customized housing wealth illustration through our website at www.HousingWealthPro.com
Example
- A 74 year as the youngest spouse
- $580,000 Home
- Use the 75 year old in a $600,000 Home Row
- Ballpark Benefit Amount: $222,000
How Reverse Mortgage Benefits Are Determined: A Simple Guide
Below is a short video where I explain how the Federal Housing Administration determines the initial HECM benefits