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.
Reverse Mortgage Calculator
Hello, I’m ARLO™
and my job is to intelligently calculate your perfect reverse mortgage loan. Let’s Get Started! (Instant Quote - No SSN Required)
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.
How this Calculator Works
Great news! ARLO™ is the only reverse mortgage calculator of its kind to offer instant and accurate eligibility. ARLO™ will generate a quote that includes your eligibility, current interest rates, estimate of closing costs and amortization schedules. Most importantly, ARLO™ offers expert program recommendations within the guided tutorial.
Start by entering your home address and age, ARLO™ will guide you through the rest!
How Reverse Mortgages are Calculated
The amount of funds available from the reverse mortgage are based on several factors which include the age of the youngest borrower or spouse,current interest rates, and your home's property value. Interest rates will have a direct effect on your available proceeds; the lower the rate, the more available funds you will receive.
Don’t forget to include your spouse’s date of birth, even if they are not yet 62 as proceeds are always based on the age of the youngest spouse due to actuarial tables (life expectancy).
When you close a reverse mortgage within 6 months of your next birthday, your calculations automatically move you into the next year’s principal limit factor.
If you have a HELOC (Home Equity Line of Credit), be sure to include this balance as part of the total mortgage payoff.
What's Included in Your Quote
Results will display ALL programs for which you are eligible including real-time interest rates and custom amortization schedules. Using our loan estimator (ARLO™) will make your life easier by highlighting each program along with personalized program recommendations. Included in your quote results:
Side-by-side Loan Comparisons
Real-Time Interest Rates & APR
Estimate of Initial Setup Costs
Total Annual Loan Costs / Amortization Schedules
Personalized Program Recommendations
Payment Plans & Interest Rate Options
HECM Annual Adjustable (Federally-Insured Home Equity Conversion Mortgage) Payment options: Single lump sum disbursement, line of credit, monthly payments Interest Rate: 12 Month Libor Adjustable with a periodical change of up to 2% and lifetime cap rate of 5% over the start rate
HECM Fixed Rate (Federally-Insured Home Equity Conversion Mortgage) Payment options: Single lump sum disbursement Interest Rate: Fixed Rate
Jumbo Proprietary (Jumbo reverse mortgages work best for home values that exceed the 2019 lending limit of $726,525) Payment options: Single lump sum disbursement or Line of Credit on Jumbo Select plan Interest Rate: Fixed Rate or 3 Month Libor Adjustable Rate
Disclaimer: ARLO™ reverse mortgage estimator and all content included in calculations are for borrower convenience. Quotes shown are loan estimates, and terms produced may not be presently available credit terms. Interest rates (fixed rate and adjustable rate, LIBOR index) and amortization, mortgage insurance premiums (MIP), origination fees, lender margins, payment options and closing costs may vary. Borrowers with reverse mortgages must continue to pay all property charges such as property taxes, hazard insurance and HOA dues (if any).