HECM Calculator: Net Available Line of Credit or Tenure Payment for a Variable Rate Loan

Home's Appraised Value
HECM Eligible Amount
10-Year LIBOR Swap Rate
Lender's Margin
Monthly Insurance Premium
Age of Youngest Eligible (Borrower or Non-Borrower) Spouse Note: Round age up if birthday falls within six months of the first day of the month that the loan will close
Age Modified Expected Rate
Principal Limit Factor
Maximum Possible Amount
Loan origination fee
Will You Borrow Less Than 60% of the Principal Limit in the First Year?
Initial mortgage insurance
Other closing costs (appraisal, titling, etc.)
Total Upfront Costs
Percentage of Upfront Costs to be Financed
Debt Repayment, Repairs, or Other Life-Expectancy Set-Aside (LESA) Requirements
Net Available HECM Credit
Monthly Annual Payout Rate
Net Available as a Tenure Payment
Term Payment Calculator
Desired Term Horizon (Years)
Monthly Annual
Net Available as a Term Payment

Note: Modified Expected Rate is rounded down to nearest 0.125% multiple. Also, this rate cannot be less than 5% or greater than 10%.