Where can I find the formula & lookup table for a reverse mortgage? I want to build/code a reverse mtg calc.?
Question : Where can I find the formula & lookup table for a reverse mortgage? I want to build/code a reverse mtg calc.?
I find plenty of calculators, but I want to actually build my own so I can make it fancy with sliders to balance between lump-sum payout and monthly payments and equity line. Anyone know? Thanks much!
reverse mortgage calculator
Best answer:
Answer by oracle
Go to hughchou.org with your question. He’s such a nice guy he’ll tell you how to do it, assuming you have the skills, or he’ll actually do the work for you. He accepts donations, btw.
Tables are worth LESS for this purpose than not having a clue. If formula is EXACTLY the same as for ANY loan. If you can’t figure out how to apply it without our help, you are not qualified to build the calculator you propose.