http://blog.badcreditwhiz.com/reverse-mortgage-potential/ Just another WordPress weblog Fri, 23 Jul 2010 10:44:59 +0000 http://wordpress.org/?v=2.9.2 hourly 1 http://blog.badcreditwhiz.com/reverse-mortgage-potential/comment-page-1/#comment-2937 KCoffey Wed, 16 Dec 2009 23:38:37 +0000 http://blog.badcreditwhiz.com/?p=1147#comment-2937 HUD uses a formula to determine the amount of money that you can borrow. There are 3 factors that are taken into account. The first is the age of the youngest borrower because of the amount of monthly advances that will be made. Second is the “maximum claim amount”, which is either the appraisal amount of your home or the maximum loan amount that can be insured by the FHA for homes in your area. And third is the expected average mortgage interest rate because the lower the interest rate, the lower the cost of the loan and that means you will have more borrowing power. HUD uses a formula to determine the amount of money that you can borrow. There are 3 factors that are taken into account. The first is the age of the youngest borrower because of the amount of monthly advances that will be made. Second is the “maximum claim amount”, which is either the appraisal amount of your home or the maximum loan amount that can be insured by the FHA for homes in your area. And third is the expected average mortgage interest rate because the lower the interest rate, the lower the cost of the loan and that means you will have more borrowing power.

]]> http://blog.badcreditwhiz.com/reverse-mortgage-potential/comment-page-1/#comment-2593 Anonymous Wed, 18 Nov 2009 09:20:04 +0000 http://blog.badcreditwhiz.com/?p=1147#comment-2593 Understanding reverse mortgage potential is very essential in order to make use of the benefits offered by it. It is no doubt one of the best possible ways to count on your home equity. Understanding reverse mortgage potential is very essential in order to make use of the benefits offered by it. It is no doubt one of the best possible ways to count on your home equity.

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