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Reverse Mortgage Creditline Calculator

Your Loan Calculator Estimates indicate that you may be able to get a Home Equity Conversion Mortgage (HECM) creditline of that grows larger at an initial rate of , or a Home Keeper creditline of that does not grow larger over time.

If you selected one of these creditline plans, how would you use it? When would you withdraw cash from it? How much cash would you take? And how would these cash draws affect the amount of cash remaining available in your creditline?

Using the Creditline Calculator on this page, you can see how different creditline withdrawals would affect the amount of cash remaining available to you. Although you can take whatever draws you want from these creditlines, the calculator on this page is limited to the choices listed below. So select the withdrawal pattern you think would come closest to how you would actually use a creditline.

First, enter how much cash you would like to draw at closing. Be sure to include any funds you may need to pay off any existing debt against your home:

 
After this initial draw, you would have a remaining creditline of

Now enter your future creditline draws. Select one of the following:

	No more draws
	A monthly draw of		$
	An annual draw of		$
	Monthly draws equal to HECM creditline growth each month
	Annual draws equal to HECM creditline growth each year
	Up to 5 Draws		Year		Amount
		Draw 1			$
		Draw 2			$
		Draw 3			$
		Draw 4			$
		Draw 5			$
		Total of Planned Draws

 
After selecting your draws, click

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