Speak to a real person now!

Turn the page on a new chapter in retirement. Get your FREE chapter from our new book.

CHIP Home Equity Calculator

Model home on a coaster illustration
Icon of a home

First, tell us a little about you and your home

progress chart 0 of 6
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.
house
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.
home-icon
Approximate Home Value:
$500,000
Reverse Mortgage Amount
Reverse Mortgage Amount:
$100,000
product-icon
Selected Product:
CHIP Reverse Mortgage
calendar
Years Remaining in Home:
10 years
percentage
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.
graph
graph
$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
house
Gertrude, based on your inputs, after X years  you could have $XXX remaining in home equity.
house
Benefits of the CHIP Reverse Mortgage®
house
Access up to 55% of the value of your home in tax-free cash without having to sell
house
Funds received are tax-free and can be used for whatever you choose
house
No monthly mortgage payments required
house
Convenience of regularly scheduled advances
house
Provides you with additional income
house
Preserves investment portfolio & lowers long-term tax liabilities
house
No monthly mortgage payments required
house
Get access to cash for large unforeseen expenses
house
Funds received are tax-free and can be used for whatever you choose
house
Avoid high-interest loans or an additional mortgage
house
No monthly mortgage payments required
house
Access your home equity for short-term needs
house
Repay 100% of balance at any time with no prepayment charges
house
Flexibility to convert to a longer-term reverse mortgage solution at anytime
house
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!
house
Estimate
Find out how much money you can get with a free estimate
house
Review
Our consultants and specialist will contact you to verify your information and answer questions
house
Receive
Receive the money you need in one lump sum or installments
house
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.
house