How Much Money Do I Get

How Much Money Do I Get? The amount depends on your age, interest rate, and the appraised value of your home.

The amount of money depends on your age, interest rate, and the appraised value of your home, Alabama and all 50 states have a Reverse Mortgage limit of $636,000! Generally, the more valuable your home is, the older you are, the lower the interest, the more you can borrow. With Scott Underwood, “Alabama’s Reverse Mortgage Guy” can meet you at your residence or our local offices, but can usually find a way to meet with someone in the greater Birmingham and Huntsville, AL. We are almost always your best deal, being the only Alabama in house  lender. In other words we handle all parts of the Reverse Mortgage in Alabama including disbursing your money!

Payment options:

Tenure - equal monthly payments as long as at least one borrower lives and continues to occupy the property as a principal residence.

Term – equal monthly payments for a fixed period of months selected.

Line of Credit – unscheduled payments or in installments, at times and in amounts of borrower’s choosing until the line of credit is exhausted.

Modified Tenure – combination of line of credit with monthly payments for as long as the borrower remains in the home.

Modified Term – combination of line of credit with monthly payments for a fixed period of months selected by the borrower.

Free Reverse Mortgage Analysis - Image

To find out how Much Money Do I Get, try our Reverse Mortgage calculator.