Given the size and diversity of the Pacific Rim Region, weâve identified a predominant economy in each Quarter to better evaluate this area economically. Within each Pacific Rim Region Quarter, a predominant economy is identified with respect to leading economic output figures and international trade activity.
12:40 pm. In general, to be eligible for a reverse mortgage the youngest homeowner must be 62 years old or older and have sufficient home equity. You must also meet financial eligibility criteria as established by HUD. Determining whether or not there is sufficient equity in the home is an FHA calculation that takes into account:
Reverse mortgage rate calculations are then made to determine how much money you qualify for. The maximum loan amount in the borrowerâs county. In general, the older you are, the more money you can borrow. The formula for this is as follows; if you have $250,000 in home equity and are age 62, you can get $110,000.