Understanding More About Reverse Mortgage Loan Calculators

When you are in the market for a reverse mortgage loan, it is important to find out how much money you may possibly qualify for from your home.  This information can help you begin to determine whether or not a reverse mortgage loan could benefit you.  Fortunately, there are reverse mortgage calculators available online that can give you a rough estimate of the loan amount you may be eligible for.  Although the most accurate amount can only be ascertained through a detailed one-on-one conversation with a licensed reverse mortgage professional, an online calculator can provide you with a starting point in deciding if you qualify for enough money to meet your needs.

American Advisors Group offers a simple-to-use, free reverse mortgage calculator to make this initial loan research easy. It’s anonymous and you won’t need to enter any personal contact information, just answer the following questions:

  • Your estimated home value
  • Your existing mortgage balance, if any
  • The age of the oldest homeowner

Click here to use the AAG Reverse Mortgage Calculator

Our calculator works by using the information you provided as well as a formula to compute an estimate of the loan amount you may be eligible for. Keep in mind that the calculated amount is only an estimate based on the information that you provide, and does not constitute available credit terms. It is provided for your convenience, so you can have a general idea about your overall loan potential prior to paying off mortgages, fees, or associated costs.

For an accurate quote, call American Advisors Group today. Your reverse mortgage professional will take into account the details of your exact situation, as well as other important considerations such as any existing liens or fees that must be attended to prior to receiving your loan proceeds.  These details will be factored in once you are ready to learn the specifics of your prospective reverse mortgage loan and as you go through the loan process.

Read more about how do reverse mortgages work, reverse mortgage interest rates, reverse mortgage loan trends, and reverse mortgage closing costs.

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