Reverse Mortgages
We specialize in Reverse Mortgages
| Age | Rate | PLF | Rate | PLF | Rate | PLF | Rate | PLF | Rate | PLF | Rate | PLF |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 62 | 7 | 0.312 | 7.125 | 0.307 | 7.25 | 0.301 | 7.375 | 0.296 | 7.5 | 0.291 | 7.625 | 0.287 |
| 63 | 7 | 0.319 | 7.125 | 0.313 | 7.25 | 0.308 | 7.375 | 0.303 | 7.5 | 0.298 | 7.625 | 0.293 |
| 64 | 7 | 0.326 | 7.125 | 0.321 | 7.25 | 0.316 | 7.375 | 0.310 | 7.5 | 0.305 | 7.625 | 0.301 |
| 65 | 7 | 0.333 | 7.125 | 0.328 | 7.25 | 0.323 | 7.375 | 0.318 | 7.5 | 0.313 | 7.625 | 0.308 |
| 66 | 7 | 0.341 | 7.125 | 0.336 | 7.25 | 0.330 | 7.375 | 0.325 | 7.5 | 0.320 | 7.625 | 0.316 |
| 67 | 7 | 0.349 | 7.125 | 0.343 | 7.25 | 0.338 | 7.375 | 0.333 | 7.5 | 0.328 | 7.625 | 0.323 |
| 68 | 7 | 0.357 | 7.125 | 0.352 | 7.25 | 0.346 | 7.375 | 0.341 | 7.5 | 0.336 | 7.625 | 0.332 |
| 69 | 7 | 0.365 | 7.125 | 0.360 | 7.25 | 0.355 | 7.375 | 0.350 | 7.5 | 0.345 | 7.625 | 0.340 |
| 70 | 7 | 0.370 | 7.125 | 0.365 | 7.25 | 0.360 | 7.375 | 0.355 | 7.5 | 0.350 | 7.625 | 0.345 |
| 71 | 7 | 0.370 | 7.125 | 0.365 | 7.25 | 0.360 | 7.375 | 0.355 | 7.5 | 0.350 | 7.625 | 0.345 |
| 72 | 7 | 0.372 | 7.125 | 0.367 | 7.25 | 0.362 | 7.375 | 0.357 | 7.5 | 0.352 | 7.625 | 0.347 |
| 73 | 7 | 0.381 | 7.125 | 0.376 | 7.25 | 0.371 | 7.375 | 0.366 | 7.5 | 0.361 | 7.625 | 0.356 |
| 74 | 7 | 0.390 | 7.125 | 0.384 | 7.25 | 0.379 | 7.375 | 0.374 | 7.5 | 0.369 | 7.625 | 0.364 |
| 75 | 7 | 0.400 | 7.125 | 0.394 | 7.25 | 0.369 | 7.375 | 0.380 | 7.5 | 0.379 | 7.625 | 0.375 |
| 76 | 7 | 0.406 | 7.125 | 0.401 | 7.25 | 0.396 | 7.375 | 0.391 | 7.5 | 0.386 | 7.625 | 0.381 |
| 77 | 7 | 0.417 | 7.125 | 0.412 | 7.25 | 0.407 | 7.375 | 0.402 | 7.5 | 0.397 | 7.625 | 0.392 |
| 78 | 7 | 0.428 | 7.125 | 0.423 | 7.25 | 0.418 | 7.375 | 0.413 | 7.5 | 0.408 | 7.625 | 0.403 |
| 79 | 7 | 0.434 | 7.125 | 0.429 | 7.25 | 0.424 | 7.375 | 0.419 | 7.5 | 0.415 | 7.625 | 0.410 |
| 80 | 7 | 0.446 | 7.125 | 0.441 | 7.25 | 0.436 | 7.375 | 0.431 | 7.5 | 0.427 | 7.625 | 0.422 |
| 81 | 7 | 0.458 | 7.125 | 0.453 | 7.25 | 0.448 | 7.375 | 0.444 | 7.5 | 0.439 | 7.625 | 0.434 |
| 82 | 7 | 0.471 | 7.125 | 0.466 | 7.25 | 0.461 | 7.375 | 0.457 | 7.5 | 0.452 | 7.625 | 0.447 |
| 83 | 7 | 0.484 | 7.125 | 0.479 | 7.25 | 0.474 | 7.375 | 0.470 | 7.5 | 0.465 | 7.625 | 0.461 |
| 84 | 7 | 0.497 | 7.125 | 0.493 | 7.25 | 0.488 | 7.375 | 0.483 | 7.5 | 0.479 | 7.625 | 0.475 |
| 85 | 7 | 0.511 | 7.125 | 0.507 | 7.25 | 0.502 | 7.375 | 0.498 | 7.5 | 0.493 | 7.625 | 0.489 |
Example: Assume the appraisal value is $300,000, the interest rate is 7%, and the youngest homeowner's age is 70 years old. The PL factor is 0.370.
The principal limit is calculated as follows:
$300,000 (lesser of appraisal value or the Maximum Claim Amount Limit) × 0.370 (PL factor) = $111,000 (principal limit)