Welcome to the All Reverse Mortgage Calculator, the only reverse mortgage tool that provides upfront, accurate quotes with real-time loan terms, interest rates, APR, and closing costs. Instantly calculate your reverse mortgage loan options without inputting personal details. Whether you’re exploring how much you can borrow or comparing loan programs, get clear and reliable information—powered by All Reverse Mortgage, Inc., America’s top-rated reverse mortgage lender.
Key Features:
- No Personal Information Required: Start with basic details—no need to provide sensitive personal information.
- Real-Time Interest Rates: Get instant, accurate quotes with real-time interest rates and APR.
- Compare Reverse Mortgages Side-by-Side: Evaluate different loan options and payment plans to find the best fit for your financial goals.
- Simple and User-Friendly: Our guided tutorial makes it easy to navigate and choose the right reverse mortgage for you.
Try our calculator today to receive detailed loan terms, rates, and closing costs upfront—available exclusively from All Reverse Mortgage, Inc.
How to Use the Reverse Mortgage Calculator
- Enter Your Zip Code: Start by entering your zip code. This ensures we calculate accurate third-party closing costs, including local appraisal fees, title insurance, and recording fees.
- Estimate Your Home’s Value: Provide your address to get an accurate estimate of your home’s value, which is essential for calculating your reverse mortgage limit.
- Age of the Youngest Borrower: Input the age of the youngest homeowner on the title. This helps determine your maximum loan amount, or principal limit.
- Current Mortgage Balance: If you have an existing mortgage, enter the outstanding balance. Your reverse mortgage will help pay off this balance, freeing up funds.
Reverse Mortgage Calculator Tips
- Include Your Spouse’s Age: If you’re at least 62 years old, don’t forget to include the age of any younger spouse, even if they’re not yet eligible. Their age can affect your loan amount and the terms of your reverse mortgage.
- Timing Can Increase Your Loan: Planning to close your reverse mortgage within six months of your next birthday? This timing could potentially increase your loan amount as lenders adjust principal limit factors based on age.
- Account for All Liabilities: To ensure an accurate estimate of how much you can borrow, including all mortgage balances, liens, or other liabilities. This gives a full picture of how much you’ll have available after paying off any existing debts.
Understanding Your Reverse Mortgage Estimate
- Estimated Loan Amounts: Based on the information you provide, our calculator gives you an estimate of the loan amount you may qualify for. This helps you understand how much equity you can access.
- Current Interest Rates: Access real-time interest rates, which are updated regularly, to help you make the most informed decision when planning your reverse mortgage.
- Estimated Closing Costs: Easily plan for upfront expenses with a clear estimate of closing costs, including appraisal fees, title insurance, and other related costs.
- Amortization Schedule: Visualize how your loan balance and home equity might evolve over time with a detailed amortization schedule, giving you a long-term outlook on your reverse mortgage.
Searching for the best reverse mortgage calculator to understand the numbers, I discovered All Reverse Mortgage and noticed their rates were lower than the major lenders. Their prompt response and quick follow-up demonstrated their commitment to excellent customer service. -Peter H. (BBB)
Frequently Asked Questions
How is the amount of a reverse mortgage determined?
The reverse mortgage amount is based on key factors such as the age of the youngest borrower, the appraised value of the home, and current interest rates. The HUD Principal Limit Factors (PLF) table sets the loan-to-value ratio, giving you a clear estimate of how much you can borrow.
How do interest rates affect reverse mortgage calculations?
Interest rates play a major role in determining how much you can borrow. Lower interest rates allow you to access more funds, while higher rates reduce the loan amount. Monitoring current rates is important to maximize your reverse mortgage.
How does the HECM line of credit growth rate work?
The HECM line of credit grows over time by applying a growth rate to the unused balance. This rate is calculated by adding the current interest rate to the mortgage insurance premium, allowing your available credit to increase monthly.
How are monthly payments on a reverse mortgage calculated?
Monthly payments are determined by the total loan amount, the payment plan you choose, and the borrower’s age. Older borrowers typically receive higher payments due to shorter life expectancies. You can choose between tenure (lifetime) or term plans to customize your payment structure.
How is the lump sum payment calculated?
The lump sum payment is based on HUD guidelines and includes mandatory obligations such as closing costs and paying off existing mortgages. Depending on the loan type, you may receive the lump sum at closing or have additional funds available through a line of credit.
Guide to All Reverse Mortgage Calculators
| Type of Calculator | Purpose | Features | Rates/APR |
|---|---|---|---|
| All Reverse Mortgage Calculator | Detailed calculations for monthly payments, lump-sum disbursement, and line of credit options | Calculates what you could get from a Home Equity Conversion Mortgage (HECM) or Jumbo/Proprietary Reverse Mortgages | Yes |
| Free Reverse Mortgage Calculator | Basic calculations for estimating monthly payments, lump-sum payouts, and available line of credit | Provides a quick reverse mortgage estimate without requiring personal details | No |
| Reverse Mortgage Line of Credit Calculator | Estimates HECM line of credit and simulates credit line growth rates | Projects available credit line growth over time based on your reverse mortgage | No |
| Reverse Mortgage Refinance Calculator | Analyzes refinancing from one HECM to another | Evaluates if refinancing is beneficial, based on your home’s current value, interest rates, and the 5x benefit rule | No |
| Reverse Mortgage for Purchase Calculator | Calculates how to buy a new home with a reverse mortgage (HECM for Purchase) | Estimates the funds needed, including down payment and net income from selling your current home | Yes |
| Reverse Mortgage Amortization Calculator | Simulates loan balance and equity over time | Tracks loan balance, accrued interest, and home equity with a downloadable Excel file for personalized use | Yes |
Need help? Our expert team is available at (800) 565-1722 to guide you through the process and answer any questions.
