Looking to run a scenario for your borrowers interested in the HECM for purchase program? Ibis has created a calculator that can be used by lenders, consumers, real estate agents and home builders. Right now there is a complex and a simple form to run scenarios.
The complex form allows for the actual appraised value to be different than the purchase price. The HECM is based on the appraised value, how much cash you need to bring to the table is based on the sales price. Below is an example of a 70 year old borrower looking to purchase a $350,000 home who doesn’t currently own their own home.
To test drive the fancy calculator, click https://www.ibisrmo.com/quotes/default_hfhp.aspx To see the full effect, make the sales price and appraisal different
To test drive the simple calculator, click https://www.ibisrmo.com/quotes/default_hfhp.aspx?pl=omn
The calculators can quickly be set up with your logo, products, margins, and service fees with a link back to your site. If interested, give us a call.
Reverse Mortgage Calculator brought to you by Jerry Wagner & Ibis Reverse Mortgage Software – The Industry Standard Since 1995. This is not just a slogan — six of the top 10 reverse mortgage originators plus NRMLA and the AARP use Ibis Software for their websites, retail and wholesale businesses.
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