Posted on: 17th Sep, 2009 10:37 am
What is the maximum amount available if borrower is fully qualified for a reverse mortgage?
The amount you can borrow depends on several factors, including your age, the type of reverse mortgage you select, current interest rates, the location of your home, and the appraised value of your home and FHA's lending limits for your area. In most cases, the older you are, the more valuable your home, andthe less you owe on it, the more money you can get. Each reverse mortgage is different. Please inquire with your potential lender for details.