Reverse Mortage Calculation Sheet: Type · Name · Value · Description · PARAMS · Home_Value · 450000 USD · Current appraised market value · PARAMS ·…
| A | B | C | D | E | F | G |
|---|---|---|---|---|---|---|
| Type | Name | Value | Description | |||
| PARAMS | Home_Value | 450000 USD | Current appraised market value | |||
| PARAMS | Borrower_Age | 68 years | Age of the youngest borrower | |||
| PARAMS | Expected_Interest_Rate | 5.5 % | Expected initial interest rate | |||
| PARAMS | Lender_Margin | 2.5 % | Lender margin | |||
| PARAMS | MIP_Annual | 0.5 % | Ongoing Annual MIP | |||
| PARAMS | Principal_Limit_Factor | 52.4 % | HUD PLF factor | |||
| PARAMS | Upfront_MIP_Rate | 2.0 % | Upfront MIP rate | |||
| PARAMS | Origination_Fee | 6000 USD | Lender origination fee | |||
| PARAMS | Other_Closing_Costs | 2500 USD | Other closing costs | |||
| PARAMS | Growth_Rate | 6.0 % | Line of Credit growth rate | |||
| PARAMS | Payout_Term | 15 years | Desired payout term | |||
| CALC | Gross_Principal_Limit | = C2 * C7 | Gross limit (Home_Value * PLF) | |||
| CALC | Upfront_MIP | = C2 * C8 | Upfront MIP fee (Home_Value * Upfront_MIP_Rate) | |||
| CALC | Total_Initial_Fees | = C14 + C9 + C10 | Total initial fees (Upfront_MIP + Origination + Other) | |||
| CALC | Net_Principal_Limit | = C13 - C15 | Net available funds (Gross_Limit - Total_Fees) | |||
| CALC | Lump_Sum_Max_Year_1 | = C16 * 60% | First year limit (Net_Limit * 60%) | Name | Value | Description |
| CALC | Term_Monthly_Payout | = C16 / (C12 * 12) | Monthly payout (Net_Limit / Total Months) | Home_Value | 450000 USD | Current appraised market value |
| PARAMS | Borrower_Age | 68 years | Age of the youngest borrower | |||
| PARAMS | Expected_Interest_Rate | 5.5 % | Expected initial interest rate |