Income Lifetime Mortgage Calculator

Taking out a lifetime mortgage a type of loan secured against your home is an important decision and there are many things to consider so please use the calculator as a guide only.

Income lifetime mortgage calculator. From clearing an existing mortgage to home improvements a lifetime mortgage could enable your clients to have the retirement lifestyle they deserve. A lifetime earnings calculator estimates the annual growth of your income based on your annual cost of living increases. Demonstrate the impact that smaller regular drawdowns can have on the total interest charged over the life of the loan compared with a single lump sum withdrawal. If nothing else this calculator will make you want to hold onto more of your hard earned income once you see the big picture that is.

Help your clients to think house with a lifetime mortgage. For a full lifetime mortgage illustration based on your individual circumstances please speak to a financial adviser. A lifetime mortgage is a mortgage secured against your property that allows you to take a tax free lump sum or regular income without the need for monthly payments. To get an idea of the maximum you could borrow with a drawdown lifetime mortgage you simply need to input the estimated value of your property which must be a minimum of 70 000 and in the uk the age of the youngest homeowner which must be at least 55 and your postcode to understand where you live as these are the criteria that.

Rather like a monthly salary this income payment is paid directly into your bank account each month tax free. Learn about mortgages experiment with other real estate calculators or explore many other calculators addressing math fitness health and many more. Lifetime mortgage calculator our lifetime mortgage calculator helps financial advisers to. The amount will depend on your client s age and property value.

Zillow s home affordability calculator will help you determine how much house you can afford by analyzing your income debt and the current mortgage rates. How to use the drawdown equity release calculator. Indicative lifetime mortgage calculator. Free mortgage calculator to find monthly payment total home ownership cost and amortization schedule of a mortgage with options for taxes insurance pmi hoa early payoff.

Income lifetime mortgages provide a monthly fixed income over an agreed length of time for example between 10 25 years.