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subject: Using The Reverse Mortgage Calculator To The Fullest [print this page]

How do you get the most from a reverse mortgage calculator? More importantly, how do you use it? The benefit to using an online calculator for your reverse mortgage is you won't have any pressures from a sales person urging you to do a loan. This leaves you the opportunity to move forward at your pace.

I am guessing that you probably already know something about reverse mortgages, or you wouldn't be looking for a reverse mortgage calculator. Why would someone need more information on how to calculate what your reverse mortgage will get you? The answer is not complicated and neither are the calculators, but there are a few facts you need to know.

1. When using a reverse mortgage calculator on your own, just try to remember they only give you an estimate. There are variables that need to be considered that will make a significant difference in how much money you will receive.

2. If you have a good loan officer, they can waive the origination on some of the programs. While this option won't show on most calculators, this can be a huge benefit.

3. Which loan program should you choose? There are several choices available, and knowing which one is right for you is sometimes confusing. Picking the correct program is extremely important, if you want to get the most from your reverse mortgage.

While it is understandable that you don't want to be bothered by a sales person, there is a time when speaking with a knowledgeable loan officer is paramount in the decision process. When it comes time to get answers to your specific needs, general reverse mortgage information on the internet may not suffice.

Whether you are getting ready to make your decision, or if you just want more information about how a reverse mortgage works, give us a call. We will tie all the pieces together, giving you an exact quote for your specific needs.

by: David Prulhiere

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