Your home’s value is a key component to determining the amount of money you are eligible to receive in a reverse mortgage. There are many factors considered in the appraisal such as age, location, size and condition which affect the value of any home. As a starting point, and for purposes of preparing a loan comparison, we can use the assessed value as calculated by your county assessor’s office. From there we add or subtract value according to your description and knowledge. But only an FHA Appraisal will determine the actual amount your home is worth. That appraisal will take place after the completion of your counseling. The appraised value is the value the loan underwriter will begin to work with.