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Nrmla reverse mortgage calculator manual#

When should you use a reverse mortgage calculator? Individual circumstances of your loan may affect the amounts that a calculator will display for you, and when you choose to move ahead with a reverse mortgage your loan originator will help guide you through those individual circumstances as the loan progresses through to closing. When finding a reverse mortgage calculator to use, be sure the calculator meets your needs and remember, the numbers are for comparison only.

There is also the lender-specific offering by my company, the All Reverse Loan Optimizer (ARLO), which gives real-time numbers for accurate rates and fees throughout the nation. If you want to try and find a non-lender-specific calculator, you can also use the one found at, which is administered by the National Reverse Mortgage Lenders Association (NRMLA).

If you already have a lender picked out, for instance, you may be able to use a calculator on the lender’s own website. It is easy to find a reverse mortgage calculator through a simple internet search, but different calculators can offer you different levels of information and details. What you can expect to find searching for a calculator?

The calculator will then supply the numbers for your reverse mortgage based on your input, how much money you can get and what your different payment options could look like from a lump sum, line of credit, monthly disbursement or some combination of these.

This will only help if you already know this information.

Some calculators ask for additional info, such as the annual mortgage insurance rate, the age of a non-borrowing spouse, the expected interest rate and estimated closing costs.

Reverse mortgage calculators work by gathering information about you and your property: Your age, your spouse’s age, whether or not you have a non-borrowing spouse, the estimated value of your home and the current outstanding forward mortgage balance.

To speak with someone at The Reverse Mortgage Group, please call (925) 969-0380.A reverse mortgage calculator can be a very helpful tool for a potential reverse mortgage borrower, offering more information about what a reverse loan could look like, but remember that it’s not an entirely concrete indicator of how your loan will be structured if you proceed given the fact that your credit, value and possible future rate changes could affect these numbers. You are not required to enter into this agreement as a condition for doing any kind of business with The Reverse Mortgage Group, and you can revoke this consent any time.

Nrmla reverse mortgage calculator manual#

By sharing your contact information, you express consent to The Reverse Mortgage Group to contact you about your inquiry via phone call or text at the phone number and/or email address you provide using a manual or automated system. Please see our privacy notice for additional details.Ĥ. As we are a financial institution, any personal identifying information submitted to us here will be used for the purpose of communicating with you or advertising to you now or in the future, with the hope of presenting you with financial products that may fit your need. We do not sell our subscriber email list to other parties. Be contacted about a mortgage at my phone number even if my phone number appears on a State or Nationalĭo Not Call Registry, or any other Do Not Contact List.ģ. Receive disclosures and communications about my loan inquiry in electronic form (I confirm that I haveĪ working computer system and internet website browser to view this webpage) andĢ. By clicking "Submit" I agree by electronic signature to:ġ.