Financial Illustration Calculator - CHIP by HomeEquity Bank

Homeowner 1

Age

Gender

Homeowner 2 (Optional)

Age

Gender

Estimated Home Value

Should the homeowner(s) decide to apply, an independent home appraisal is required and will be used to determine the loan amount they are eligible to receive.

Home Type

Postal Code

City/Town/Village

Your client may be eligible for up to $111,500 in tax-free cash.

Products	CHIP Reverse Mortgage	CHIP Max	CHIP Open	Income Advantage
Details	Unlock home equity	Access larger amounts of home equity	Access a short-term financing solution	Receive regular interval payments
Estimated Loan Amount^*

Select Product and Rate from the Product Options Table

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Create a Financial illustration

Estimated Mortgage Amount

Estimated Home Value

Interest Rate

Term

Years to Display

Annual Home Appreciation Rate

Please fill in all fields for your financial summary

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After 5 years your client could have $469,738 remaining in home equity.

$2222

Home Equity

Interest

Reverse Mortgage

	Today	In 5 Years
Home Value	$1,000,000	$1,480,244
Reverse Mortgage	$500,000	$500,000
Interest	$0	$403,054
Remaining Home Equity	$500,000	$577,191

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After 5 years your client could have $469,738 remaining in home equity.

$2222

Home Equity

Interest

Reverse Mortgage

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Connect with our top-tier sales professionals dedicated to elevating your business with personalized reverse mortgage solutions

Created For: Jonathan MacDonell

Created By: Aanenson #647-123-1234

A reverse mortgage is a loan that allows you to access the equity in your home without requiring you to sell or make any regular mortgage payments. Home equity is the difference between the market value of your home and any remaining loans that are owed on the property.

Gertrude Based on your inputs, here is a personalized summary of what your reverse mortgage and home equity could look like over time.

Approximate Home Value:

$500,000

Reverse Mortgage Amount:

$100,000

Years Remaining in Home:

10 years

Interest Rate Term:

5 years

Annual Home Appreciation Rate:

Selected Product:

CHIP Reverse Mortgage

Today

In 5 Years

Home Value

$1,000,000

$1,480,244

Reverse Mortgage

$500,000

Interest

$403,054

Remaining Home Equity

$500,000

$577,191

After 10 years you could have $272,009 remaining in home equity.

Home Equity

Interest

Reverse Mortgage

Year

Reverse Mortgage

Interest Rate

Accrued Annual Interest

Estimated End of Year Mortgage Balance

Estimated Future Home Equity

Estimated Remaining
Home Equity

$500,000

$ -

$500,000

$1,000,000

$500,000

$30,450

$530,450

$1,040,000

$509,550

† The remaining home equity is $0 because the client cannot have less than $0 equity, even though the reverse mortgage balance is greater than the home value.

¹ Planned advances are subject to the current variable interest rate, the initial advance amount is subject to the interest rate selected.

² Special interest rates are subject to the selected term and will reset to the posted interest rate upon expiration of special interest rate term.

Based on our calculations, after X years you could have $XXX remaining in home equity.

Benefits of Income Advantage

Access up to 55% of the value of your home in tax-free cash without having to sell

Funds received are tax-free and can be used for whatever you choose

No monthly mortgage payments required

Convenience of regularly scheduled advances

Provides you with additional income

Preserves investment portfolio

No monthly mortgage payments required

Get access to cash for large unforeseen expenses

Funds received are tax-free and can be used for whatever you choose

Avoid high-interest loans or an additional mortgage

No monthly mortgage payments required

Access your home equity for short-term needs

Repay 100% of balance at any time with no prepayment charges

Flexibility to convert to a longer-term reverse mortgage solution at anytime

No monthly mortgage payments required

Ready to take the next step?

If you would like to learn more about Income Advantage and how it can be an active tool in your financial plan, contact me, Jenniffer Aanenson, at JAanenson@gmail.com or reach me at 647-123-1234.

* Calculation results and chart are approximations based on the data you have entered and are for illustration purposes. HomeEquity Bank does not make any representations or warranties with respect to the calculation results. External factors are not accounted for in the calculations and are based on certain assumptions. The rate entered is a sample rate and is not considered a rate guarantee. HomeEquity Bank may change or update calculations without notification. This information is not intended as specific financial, legal, or tax advice for any individual and should not be relied on as such. Should the homeowner decide to proceed, an independent appraisal of the home, among other things, will be required in order to establish a precise evaluation.

CHIP Reverse Mortgage calculator

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CHIP Reverse Mortgage calculator

1 Add your client's information

2 Select the rate and product

3 Build your client's Financial Illustration

4 Financial Summary

No Negative Equity Guarantee

Expert Sales Support

Get Started

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