The Seniors Money Reverse Mortgage Loan Calculator

Use the Seniors Money Reverse Mortgage calculator to determine how much you could receive from a Seniors Money Loan, and to illustrate the various scenarios possible with your reverse mortgage.

Your details
Age
Is there a second borrower? Yes No
Loan details
Estimated value of your property:
* Assumed Property growth rate: (% p.a)
* Assumed interest rate: (% p.a)
* Assumed Property growth rate
Your property value may increase over time. Please enter the assumed property growth rate you would like to use for this illustration. (The default property growth rate is 4% per annum.)

Notes:

  • Interest on the loan and fees are calculated monthly at the rate you selected to input
  • The estimated property value is based on the estimated value of the property and the rate of growth you selected and entered
  • The equity remaining is based on the estimated property value, less the accumulated loan balance. It does not allow for any costs that may be incurred upon sale of the property

It is important to note that this Seniors Money Reverse Mortgage calculator is for illustrative purposes only. It does not guarantee any future equity in your home. Property values may not increase over the term of the mortgage, and may even decrease. Plus Seniors Money Interest Rates may increase.*

In the event where the amount of equity remaining in your property is zero, our Seniors Money Promise ensures that you won't have to pay that part of the amount you owe to us that exceeds the net sale proceeds of the mortgaged property as long as you are not in default on your mortgage and as long as you sell the mortgaged property for at least its fair market value on the date of the sale, based on an appraisal we may get.