A reverse mortgage's loan amount depends on the age of the youngest borrower and current interest rates. HUD uses actuarial tables to calculate a factor that determines how much you can borrow against your home's value.
So the amount of money that you can get from a reverse mortgage is mainly based on the youngest borrower or spouse to the borrower. We have a formula that we get from HUD, uh, that is based on actuarial tables and where current interest rates are. And it's basically like a factor based on your age and where current interest rates are, uh, gives us how much money you're available to receive. And that's through what's called the principal lending limit.
