Using a reverse mortgage calculator is a great place to start if you are trying to see if you have enough home equity to qualify for a reverse mortgage loan. A reverse mortgage calculator will give you an approximation of your reverse mortgage loan amount eligibility.

One of the more puzzeling aspects for reverse mortgage borrowers is understanding how much home equity is necessary in order to be eligible for a reverse mortgage home loan. Reverse mortgage borrowers are looking for a set formula or a maximum loan-to-value percentage ratio. Unfortunately, there is not a uniform ratio.

HUD steps up its' efforts to protect prospective reverse mortgage borrowers from being pushed into reverse mortgage counseling before they are ready. Lenders can not assist borrowers in scheduling appointments or set the reverse mortgage counseling appointment on behalf of senior borrowers.