Questions about Reverse Mortgage..?
Hi
I have few questions about reverse mortgages.
1) How the Principal limits are calculated for HECM monthly adj, annual adj and Fannie Mae programs of Reverse mortgage ? I know that it uses an expected rate, age of borrower and a HUD factor, i want HUD factors .. or the calculations.
2) How to determine the Credit line growth rate ? in the HECM and Fannie Mae ?
3) How to calculate monthly advances ? in HECM and fannie Mae.
please guide.
Oh, no, I am not lloking on my grandma’s property.
Actually I am a student of MBA in HK. and i wanna research on this.
All i want to understand the complete calculations and the resources like, FHL Lending Limits (i have this), and HUD Principal Limits Factors. etc.
Please help anyone. If there a system / software please let me know.
Thanks
Reverse mortgages have gotten a bad reputation, mainly because people don’t understand them. Also, because black sheep in the family want some sort of inheritance.
I have done reverse mortgages and first you need to be approved to do them, and then you are allowed some software that does this for you.
The principal limit period is 60% max of the homes value.
If you email me some specifics, I will run them through my system and email back to you all of the findings. This way you can determine the answers you are looking for.
Reverse Mortgage Counseling
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