I like how the calculator displays more then one HECM program, shows the interest rate and includes the fixed rate program. Right now I’m using Financial Freedom’s calculator at http://www.reversemortgagecalculator.org but it only shows one program – but Financial Freedom provides it for free so it’s not bad for “free”.

I’d like to see the premier version that reversetoolkit is producing and am wondering if it’s similar to ibis’s calculators. I like the ibis product, but it’s too expensive. For me, a single originator funding less then 10 loans per month, I’d have to pay a $750.00 set up fee and $150.00 per month. However, it provides consumers the capability to click a button and contact me with their product, and that additional functionality would be really nice.

You get what you pay for. The new calculator appears to be using last week’s rates. Also it will give incorrect results to at least one-half of its users.

Hi Jerry,

Our rates are updated every Tuesday so they should always be current. I’m curious about your incorrect results comment – can you tell me what scenario you ran that gave you an unexpected result?

>>the RM Guides calculator gives incorrect answers two-thirds of the time, not half the time.

You’re very vague Jerry – please give us some examples so we can confirm what you’re saying. It’s not fair to give unfavorable comments about your competition unless you’re able to support what you say. Maybe their calculator is correct two-thirds of the time and it’s your calculator that’s incorrect.