How Much Money Do I Get

The question of how much money do I get depends on your age, the current interest rate, and the appraised value of your home or FHA’s mortgage limits for your area, whichever is less. Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow (homeowners must keep property taxes, insurance and HOA dues paid current and must maintain the home as their primary residence.)
How do I receive my payments?
You have five options:
Tenureequal monthly payments as long as at least one borrower lives and continues to occupy the property as a principal residence.Termequal monthly payments for a fixed period of months selected.

Line of Creditunscheduled payments or in installments, at times and in amounts of borrower’s choosing until the line of credit is exhausted.

Modified Tenurecombination of line of credit with monthly payments for as long as the borrower remains in the home.

Modified Termcombination of line of credit with monthly payments for a fixed period of months selected by the borrower.

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