Reverse Mortgage Calculators are a Waste of Time

reverse mortgage

Have you ever tried to search online for a calculator to try to figure out how much money you could get with a reverse mortgage? How much time would you say you spent just on the search for one to try? How long did it take to get through their question forms only to learn that you have to enter your contact info in order to get some numbers? Let’s just say that you jumped through all their hoops to get an estimate and you want to compare it with estimates from a few other companies.

So then, you have to do this same process all over: search the web for a calculator, go through their questioning and then give your contact info to get what? More estimates. What is an estimate exactly? Well, it is an educated guess, at best. These estimates are often very different from reality. The NRMLA website explains it well: “Rates, fees and costs vary from lender-to-lender. Only an approved lender can determine eligibility for a loan or provide a “Good Faith Estimate” of loan terms.” (https://www.reversemortgage.org/About/Reverse-Mortgage-Calculator)

What this means is that lenders have more control over the numbers than an online calculator. They can take your specific situation into consideration when developing a reverse mortgage plan for you.

Not only did going through all those calculators waste possibly days of your time but now, your contact information has been sent to who knows how many call center loan officers who have no shame in calling and emailing you at all hours of the day to try to get your business. That has got to be absolutely exhausting for you… and all for what? Estimates! Numbers that don’t really mean anything.

Please, let us save you from this hassle. When choosing Northwest Reverse Mortgage, you are choosing to work with someone you can trust with your information. We don’t sell or share it with anyone, we only have one loan officer who is the owner of the company, Jeff Foody. If you want the straight story with real numbers that have some weight to them, just give us a call or shoot us an email and we can get you a loan snapshot that you can actually use to consider with your retirement planning. Save your
time and exhaustion for something fun; leave the calculations to the experts and call us today to make a plan for a more secure future.

Written By Northwest Reverse Mortgage NMLS 1834787

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