CHIP Home Equity Calculator

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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.
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Approximate Home Value:
$500,000
Reverse Mortgage Amount
Reverse Mortgage Amount:
$100,000
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Selected Product:
CHIP Reverse Mortgage
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Years Remaining in Home:
10 years
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Interest Rate Term:
5 years
Annual Home Appreciation Rate
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
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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Funds received are tax-free and can be used for whatever you choose
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No monthly mortgage payments required
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Convenience of regularly scheduled advances
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Provides you with additional income
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Preserves investment portfolio & lowers long-term tax liabilities
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No monthly mortgage payments required
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Get access to cash for large unforeseen expenses
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Funds received are tax-free and can be used for whatever you choose
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Avoid high-interest loans or an additional mortgage
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No monthly mortgage payments required
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Access your home equity for short-term needs
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Repay 100% of balance at any time with no prepayment charges
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Flexibility to convert to a longer-term reverse mortgage solution at anytime
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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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