CHIP Home Equity Calculator

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A reverse mortgage is a loan that allows you to access some of your home’s equity. But what exactly is home equity? Home equity is the difference between the market value of your home and any remaining loans that are owed on the property.

Concerned that a reverse mortgage will erode your home equity over time? On average, CHIP customers have over 50% of the value of their home left to enjoy after repaying the loan.

Not convinced? Use our calculator to see how your home equity will change over time.

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First, tell us a little about you and your home

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Please enter first name.   SKIP
March 31, 2019
A reverse mortgage is a loan that allows you to access some of your home’s equity without requiring you to sell or pay any regular mortgage payments. But what exactly is home equity? Home equity is the difference between the market value of your home and any remaining loans that are owed on the property.
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Gertrude, below is your personalized report. Based on your inputs, here is a summary of what your reverse mortgage and home equity could look like over time.
Approximate Home Value:
$500,000
Reverse Mortgage Amount:
$100,000
Years Remaining in Home:
10 years
Interest Rate Term:
5 years
Annual Home Appreciation Rate:
6%
Today
In 10 Years
Home Value
$1,000,000
$1,480,244
Reverse Mortgage
$500,000
$500,000
Interest
$0
$403,054
Remaining Home Equity
$500,000
$577,191
After 10 years you could have $272,009 remaining in home equity.
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$2222
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Home Value
Reverse Mortgage + Interest
Reverse Mortgage
Year
Principal
Interest Rate
Accrued Annual Interest
Estimated End of Year Mortgage Balance
Estimated Future
Home Value
Estimated Remaining Home Equity
0
$500,000
6%
$ -
$500,000
$1,000,000
$500,000
1
$500,000
6%
$30,450
$530,450
$1,040,000
$509,550
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Gertrude, based on your inputs, after X years  you could have $XXX remaining in home equity.
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Benefits of the CHIP Reverse Mortgage®

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Access up to 55% of the value of your home in tax-free cash without having to sell
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The money borrowed is tax-free & can be used for whatever you wish - travel, renovations, monthly expenses, the choice is yours!
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Best of all, there are no monthly mortgage payments required!
Ready to take the next step?
How to apply
Access up to 55% of the value of your home – the process is simple!
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Estimate
Find out how much money you can get with a free estimate
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Review
Our consultants and specialist will contact you to verify your information and answer questions
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Receive
Receive the money you need in one lump sum or installments
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Payment
There are no monthly mortgage payments required. The full amount becomes due when you are no longer in the home
Don't wait!
Call us now to access your tax-free cash.
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