Home Equity Conversion Mortgage (HECM) Calculator


To Purchase a New Home

Enter (A) or (B), then your Age(s)

(A) Enter Home Purchase Price:

OR

(B) Enter Your Available Down Payment to Purchase a Home:
Borrower’s Age:
Co-Borrower’s Age (If Applicable):

Phone: 800-674-3474

To be eligible, one borrower must be at least 62 years of age and the home must be your primary residence. The results do not include loan costs which vary by state and locality so for this reason, they are not included. Loan costs would need paid along with the required one-time down payment. The actual one-time down payment required is based on current interest rates, the age of the youngest eligible borrower and the final purchase price. Government insured HECM’s have a loan limit of $679,650. For home prices higher than this limit, the calculator results will not be accurate. Call us for higher priced homes as we offer an enhanced option available in select states for prices up to $4 million. Copyright © 2018 Senior Mortgage Advisors. All Rights Reserved.
**There are no required monthly payments to pay and any payments made are solely at your discretion. The HECM loan becomes due when the last surviving borrower, or eligible non-borrowing surviving spouse dies, sells the home, permanently moves out, defaults on property taxes or insurance payments, or does not otherwise comply with the loan terms. These materials are not from HUD or FHA and were not approved by HUD or a government agency. Senior Mortgage Advisors LLC, NMLS #1563449 is headquartered at 1201 30th Street NW Suite 101B Canton, OH 44709.