I previously posted about the handy chart on our website, which gives you a general idea of how much you can get from a Reverse Mortgage loan depending on your age and home value. (If you missed that blog, here is the direct link to the chart on our website: http://gorevmo.com/reverse-mortgage-loan-amounts/)
The best way to get the most accurate loan amount is to contact me or my colleague, Jim Carley, to tell us about your needs and goals. We'll also be able to compare the different loan rates and products to see what works best for you. But if you'd like to do a little more research on your own before giving us a call or sending an e-mail, we also now have our own Reverse Mortgage Calculator on our site.
Check it out here:
http://gorevmo.com/learn-more/reverse-mortgage-calculator/
You can anonymously fill out the form with basic info - age of both borrowers, home value, zip code, any liens - and compare how much you might be able to get from a Reverse Mortgage. One thing we really like about this calculator is that you can see, side-by-side, how much you could get from your loan depending on whether you choose a lump sum at closing, a line of credit, or a monthly payment to you. Though different options work for different people, many of our clients enjoy the security of monthly payments for the rest of your life (or as long as you continue to live in your home).
Test out our loan calculator and let us know what you think! When you're ready to take the next stop, call our office at (510) 534-5171, or send us an e-mail. All of my contact information can be found here:
http://gorevmo.com/contact-us/
This post was contributed by a community member. The views expressed here are the author's own.
The views expressed in this post are the author's own. Want to post on Patch?
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