Site Feedback

Title 12

Displaying title 12, up to date as of 9/16/2021. Title 12 was last amended 9/13/2021.

Title 12

eCFR Content

The Code of Federal Regulations (CFR) is the official legal print publication containing the codification of the general and permanent rules published in the Federal Register by the departments and agencies of the Federal Government. The Electronic Code of Federal Regulations (eCFR) is a continuously updated online version of the CFR. It is not an official legal edition of the CFR.

Learn more about the eCFR, its status, and the editorial process.

Appendix L to Part 1026 - Assumed Loan Periods for Computations of Total Annual Loan Cost Rates

(a) Required tables. In calculating the total annual loan cost rates in accordance with appendix K of this part, creditors shall assume three loan periods, as determined by the following table.

(b) Loan periods.

(1) Loan Period 1 is a two-year loan period.

(2) Loan Period 2 is the life expectancy in years of the youngest borrower to become obligated on the reverse mortgage loan, as shown in the U.S. Decennial Life Tables for 1979-1981 for females, rounded to the nearest whole year.

(3) Loan Period 3 is the life expectancy figure in Loan Period 3, multiplied by 1.4 and rounded to the nearest full year (life expectancy figures at .5 have been rounded up to 1).

(4) At the creditor's option, an additional period may be included, which is the life expectancy figure in Loan Period 2, multiplied by .5 and rounded to the nearest full year (life expectancy figures at .5 have been rounded up to 1).

Age of youngest
borrower
Loan period 1
(in years)
[Optional loan period
(in years)]
Loan period 2
(life expectancy) (in years)
Loan period 3
(in years)
62 2 [11] 21 29
63 2 [10] 20 28
64 2 [10] 19 27
65 2 [9] 18 25
66 2 [9] 18 25
67 2 [9] 17 24
68 2 [8] 16 22
69 2 [8] 16 22
70 2 [8] 15 21
71 2 [7] 14 20
72 2 [7] 13 18
73 2 [7] 13 18
74 2 [6] 12 17
75 2 [6] 12 17
76 2 [6] 11 15
77 2 [5] 10 14
78 2 [5] 10 14
79 2 [5] 9 13
80 2 [5] 9 13
81 2 [4] 8 11
82 2 [4] 8 11
83 2 [4] 7 10
84 2 [4] 7 10
85 2 [3] 6 8
86 2 [3] 6 8
87 2 [3] 6 8
88 2 [3] 5 7
89 2 [3] 5 7
90 2 [3] 5 7
91 2 [2] 4 6
92 2 [2] 4 6
93 2 [2] 4 6
94 2 [2] 4 6
95 and over 2 [2] 3 4