As noted in the prior post in this series the most popular reverse mortgage loan calculators on the internet are those developed and licensed by Netirement.com, Inc. Sites using this calculator include AARP and NRMLA.

But there are at least two other worthwhile reverse mortgage calculators available for use on the internet:

1. The calculator at Financial Freedom’s website is noteworthy because it provides a side-by-side comparison of all three major reverse mortgage programs: HUD Home Equity Conversion Mortgage (HECM), Fannie Mae Home Keeper, and Financial Freedom’s own Cash Account program.

The report generated by this calculator is concise and useful. It provides a snapshot overview of the three programs, but does not provide the level of financial details that the Netirement.com calculator does. Results for identical inputs into the two calculators are very close.

The same calculator is also licensed for use on other sites including:

- 1st Marinermortgage
- East West Mortgage

2. The calculator available at Allied Home Capital Mortgage uniquely allows the user to use a slidebar to see immediately the impact of different loan payment combinations - i.e. between the line of credit option and tenured monthly payments. It should be noted that when we tested the calculator, loan amount and monthly tenure payment estimates were 10% -15% lower than reported on the other calculators, perhaps due to different assumptions.

Two weakpoints: 1) the calculator webpage does not include navigation links to any other reverse mortgage information or resources and, 2) it is not specified which reverse mortgage program the calculator is based on, although results imply that it is a HECM-based calculator.

If you are aware of any other quality reverse mortgage internet calculators, please leave us a comment (with link information).

A Few More Related Articles of Interest:

Reverse Mortgage Calculator Online

Download Your Own FHA Reverse Mortgage Calculator

Reverse Mortgage Knowledgebase

Compare Reverse Mortgage Lenders - A New Tool Can Help

ReverseVision Reverse Mortgage Calculator