If you are interested in getting a reverse mortgage loan, but want a sense of:
- How much money you may qualify for
- What the interest rate is likely to be
- What types of payments might work best for your financial situation
- How age and other factors impact reverse mortgages
…then our reverse mortgage calculator is for you.
How Much Do I Qualify For?
Our reverse mortgage calculator will allow you to provide some important information before you meet with us in order to find out if you qualify for a reverse mortgage and how much you qualify for. After receiving your results from our reverse mortgage calculator one of our reverse mortgage experts will contact you to provide detailed information and answer your questions.
Factors That Impact the Results from Our Reverse Mortgage Calculator
There are many factors that come into play when considering a reverse mortgage. For example, the results of our reverse mortgage calculator are affected by:
- Your age at the time that you take it out (one borrower must be 62 or older to originate a reverse mortgage)
- The value of your home as determined by an appraiser
- The prevailing interest rate
- A financial assessment made by the lender of your ability to continue to maintain the house and pay all property taxes and homeowner’s insurance going forward
Complete the forms in the reverse mortgage calculator above to see just how much you may qualify for. If you have any questions about your results from this calculator or just want to ask about more reverse mortgage solutions offered and how a reverse mortgage can benefit you, we are here to help.
Next Steps After You Get Your Reverse Mortgage Calculator Results
After you have your results from our reverse mortgage calculator, your next best step is to discuss the results with Sandy. Sandy can help you understand how much money you qualify for and how you can use this money to stay in your home and enjoy your retirement. There are no requirements for how you spend the money that you get from your reverse mortgage loan as long as you remain current on home maintenance, property taxes, and homeowners insurance. You can use if to spend more time with your family, replace you existing car, cover your medical expenses, or anything else that you see fit.
When you review the results from our reverse mortgage calculator, you can see the options including a lump sum payment, in monthly increments or as a line of credit that can improve your retirement. Many borrowers realize a better retirement as a result of taking out a reverse mortgage loan.
If you would like to get more reverse mortgage information contact Sandy online or by phone today.