Reverse Mortgage Calculator



₹
💰

20
Yr

8
%

₹
💰

60
%

Monthly Payment
₹10,119





#OPENINGPAYMENTINTERESTCLOSING
1.01,21,4285,3931,26,821
2.1,26,8211,21,42815,9192,64,168
3.2,64,1681,21,42827,3184,12,914
4.4,12,9141,21,42839,6635,74,005
5.5,74,0051,21,42853,0367,48,469
6.7,48,4691,21,42867,5159,37,412
7.9,37,4121,21,42883,19711,42,037
8.11,42,0371,21,4281,00,18113,63,646
9.13,63,6461,21,4281,18,57516,03,649
10.16,03,6491,21,4281,38,49618,63,573
11.18,63,5731,21,4281,60,07021,45,071
12.21,45,0711,21,4281,83,43324,49,932
13.24,49,9321,21,4282,08,73527,80,095
14.27,80,0951,21,4282,36,14031,37,663
15.31,37,6631,21,4282,65,81635,24,907
16.35,24,9071,21,4282,97,95839,44,293
17.39,44,2931,21,4283,32,76743,98,488
18.43,98,4881,21,4283,70,46648,90,382
19.48,90,3821,21,4284,11,29254,23,102
20.54,23,1021,21,4284,55,50560,00,035







Comparison


Home LoanReverse Mortgage
Lumpsum lending by bank to builder.Annuity lending by bank to Senior Citizens (Retirees).
Loan sanctioned is in present value terms.Loan sanctioned is in future value terms.
EMIs paid to bank deduct Interest first & balance amount is principal repayment.EMIs receive from bank are principal only. Interest is calculated on the EMI amount received for each period.
EMIs are paid by borrower at the end of month.EMI amount is required by the Senior Citizens (retired) at the beginning of the month.
Bank recover the loan amount from the borrower (through EMI payments).Bank recovers the loan amount by selling off the mortgaged property at the end of Loan Tenure.
Outstanding Loan Balance can be computed using amortization table/function.Outstanding Loan Balance can be computed by computing the Future Value.