I have looked everywhere I could thin k of on the internet to find a calculator to approximate the payback costs of a reverse mortgage when the loan is due. I can not find anything that can help me.
Does anyone know how to figure this cost out? Assuming the loan would be called due in 15 years.
APR 2.37%
Value of home $ 616,000.00
Total money borrowed at closing $ 245,000
NO OTHER ADVANCES FROM THE AVAILABLE CREDIT.

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