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.
Compare real-time amortization schedules across multiple programs with ARLO™ 100% Free. NO SSN Check - 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.
6 comments All Reverse Mortgage has developed the first ever reverse mortgage amortization calculator free for download that lets you change future interest rate, appreciation rates and payment assumptions. Download link to new 2018 Version: Amortization-Calculator-2018 Have you ever wondered about how a reverse mortgage loan could be more advantageous than a traditional loan? Are you someone who thinks Reverse Mortgage loans... Read Full Article
2 comments Once you have decided that a reverse mortgage is right for you, it’s important to look at the amortization schedule: a document that will provide a best estimate of how the loan could grow over time. Unlike a traditional loan, a reverse mortgage is a negative amortized loan—meaning the loan balance will grow as time passes. The amortization schedule provides... Read Full Article
1 comment The Internet is a good place for consumers to find out more about products they’re interested in. But it’s important to be selective when researching on financial products, and seek advice of a trusted resource. Reverse mortgages are no exception. Many websites offer free “reverse mortgage calculators” that allow consumers to enter home and personal information and calculate whether they’re... Read Full Article