This rate option will give you access to more cash proceeds over the life of the loan than any other product option available. You will notice that there
is a line of credit available after 12 months which will allow you to receive the most money possible in the first 12 months. If your number one goal with
the Reverse Mortgage is to get your hands on as much money as possible this is the option for you.
If your priority is to preserve as much equity in your home while still leaving access to a line of credit to have in case of an emergency this is the product
you would want to choose. If you review the amortization schedule for this product, you will see that over the years your outstanding loan balance with
this selection will be lower than the other product options.
With this product option you will keep your closing costs as low as possible in order to establish your Reverse Mortgage. If you are most concerned
with the costs to set up the loan and less concerned with the amount of proceeds you will receive, this is the product I would recommend for you.
As the name indicates this is a Fixed Rate loan option. Your rate would never be subject to change if you choose and close on this product option.
This is the option you would select if your biggest priority was to secure a rate that would not be subject to change. Fixed Rate loans are a single
disbursement lump sum so there is no option for a credit line. Depending on your individual circumstances, a Fixed Rate loan option may not provide
you with as much available loan proceeds as one of the adjustable products so you will want to compare the amount of proceeds available when making
If your current home value is higher than $1.25 Million, this is a product you will want to look at in comparison to the Government product.
The Government Insured Reverse Mortgage has a maximum value currently of $679,650. This means that any additional value above that
figure is not factored into the loan amount calculation. Having a value higher than $679,650 does not prohibit you from still considering the
Government Product, but at higher home values, this product may provide you with significantly more funds available than the Government
Product can. There is no Mortgage Insurance Premium on this product so the closing costs are usually lower for this product in most cases. This is a
Fixed Rate product so the proceeds are given as a lump sum only in lieu of the option for a credit line. If you have a larger existing mortgage or are
looking to receive additional proceeds above what the Government product can provide, this is the best option to accomplish that goal.
Welcome to the official blog of All Reverse Mortgage®
An Award-Winning HUD Approved Direct Lender
My name is ARLO™ and My job is to fetch you the very best reverse mortgage available today. Let’s get started!
Calculating Your Reverse Mortgage Options
Great! It looks like your home value estimate is about $~hvalue~. If you feel this estimate is not correct you can manually change it below. If you have an
existing mortgage balance I'll need to know the amount we are going to pay off to get rid of that mortgage payment!
I was unable to fetch a home value for the property details given. Please input the value manually below. If you presently have an
existing mortgage on your home this info will be needed as well.
About Existing Mortgage
If your home currently has a mortgage, please specify the full amount balance in the existing mortgage field.
Up to $20,000+ More in Available Proceeds*
*Scenario Illustrated: Age 67, Home Value 300,000. Difference of All Reverse Mortgage lower rate improves principal limit by $22,200
Our lower rates provide greater advantage of your home’s equity.
In the world of mortgages, one term is a must-remember for senior homeowners: Home Equity Conversion Mortgage, also known as a HECM, or “heck-um.” A breakdown of HECM loans and how they work reveals just how helpful they can be for qualified senior homeowners who are 62 years of age or older. Here are some common questions and answers for prospective HECM borrowers. HECM Basics What is a HECM? HECM loans are insured through the Federal Housing Administration’s reverse mortgage program. A reverse mortgage enables homeowners to borrow some of... Read Full Article
In 2019, the reverse mortgage line of credit continues to be the most popular option for homeowners when choosing how to access their funds. According to an article by AARP, borrowers recognized this choice at about 66% of the time when obtaining a reverse mortgage as being the right choice for them. Since HUD changed the guidelines on the receipt of funds in 2014, this percentage had increased further still. The credit line option allows borrowers a great deal of freedom when planning their finances. Homeowners like the fact that they... Read Full Article
How a “LESA” is Giving New Peace of Mind to Reverse Mortgage Borrowers Reverse mortgages have changed for the better. These mortgages, which allow people 62 and older to tap into their home equity in the form of a non-recourse loan, have new requirements and options making them safer and more sound for borrowers. In 2015, the Federal Housing Administration, which ensures Home Equity Conversion Mortgages (HECMs, or the most common type of reverse mortgage) implemented new requirements for all borrowers. In addition to required counseling, all loan applicants must... Read Full Article
5 Tips When Selecting Your Reverse Mortgage Lender Tip #1. Get the loan that’s right for you, from a lender who is looking out for your best interests Many people are convinced that they need just one thing or another and they miss other points that may make a lot more difference in the overall benefit or cost of the loan. We have borrowers who look at the cost of the appraisal fee and will... Read Full Article
For retirees considering a move in their later years either to downsize or to be near family or friends, there’s a government insured loan available that allows them to take out a reverse mortgage and purchase up to 4 units in a single transaction. The Home Equity Conversion Mortgage (HECM) for Purchase allows borrowers who are 62 or older to draw down on the equity in their homes over the course of the loan while purchasing a new home. Contrary to a “forward” or traditional mortgage where the... Read Full Article
How to use a Reverse Mortgage for Home Purchase Many borrowers and real estate professionals have never used a reverse mortgage to purchase a home or been involved in a transaction where one was used. This promotes a bit of uncertainty on the part of real estate professionals, sellers and some buyers when it seems that the whole process is new and different in many ways than what they have always done in the past. Reverse mortgages can be a great way for borrowers age 62 and over to purchase... Read Full Article
In this article, you’ll learn: How to eliminate your monthly forward mortgage payment with a reverse mortgage What expenses you’ll still be accountable for after eliminating your mortgage payment How you can still make payments without worrying about a monthly deadline How to get the best deal / highest principle lending limit The ability to tap into the value of your home by turning its equity into cash can be a powerful tool for someone trying to find a way to expand their financial options for a whole host... Read Full Article
What if my reverse mortgage with Ditech/Reverse Mortgage Solutions (RMS) files chapter 11 bankruptcy? - Hilda Hello Hilda, I believe you are referring to the letter that went out to all customers of Ditech Financial, LLC, Reverse Mortgage Solutions, Inc. (RMS) and their affiliates. We cannot give you legal advice so this is a quick reminder of how the reverse mortgage works and if you feel you need further legal advice, we can only encourage you to contact your attorney. Firstly, if you have a reverse mortgage... Read Full Article
The national reverse mortgage landscape comprises lenders large and small. Some are regional, some are national; some are banks, others are non-bank lenders. Over the course of the last 10 years, the lender landscape has shifted from one that had several banks, to today where most of the top lenders by volume are non-bank mortgage lenders. One of those companies is Quicken Loans, which carries a very prominent national presence and originates reverse mortgages through its One Reverse business channel. Over the years, Quicken has held a... Read Full Article
Many senior borrowers who are eligible for reverse mortgages or are about to become eligible and who live in condominium projects have no idea of the surprises that may be waiting for them. You may know neighbors who live in your project who currently have reverse mortgage financing and hear about how easy it was. Unfortunately, changes have taken place about condominiums and HUD programs in the past few years that have changed much of this. If you live in a condominium, before you start making plans that include a reverse... Read Full Article