A reverse mortgage is an option available to senior citizens in many countries, and it allows them to use their home’s equity to obtain cash.
What Can the Reverse Mortgage Calculator Do?
There are many variables that affect how much equity a home has and the amount of cash that can be obtained through a reverse mortgage. This Excel template allows you to calculate how much according to factors like the market value of your home, how much you want each month and the lump sum desired.
How to Use the Template
In order to be able to correctly use this you will have to know certain things. Especially the value of your home at the present and how much is owed on it. All the fields have to be filled in, and there are several options to choose from. Once the information is entered, the calculator will show all the relevant values.