AARP devotes asection of its websiteto reverse loans, their uses and risks. The National Reverse Mortgage Lenders Association is also a good reference andoffers a calculatorto determine the maximum loan amount that you could get, the payment options, and the maximum fees and charges that could...
In general, the loan amount will be bigger if the homeowner is older, value of the house higher and the interest rates lower. Usually, the loan should not be more than 80% of the anticipated value of the property at loan maturity (or loan-to-value ratio). Use the calculator at .aarp...