Looking to capitalize on the growing number of older adults going online to find information on reverse mortgages, All Reverse Mortgage Company has recently launched a new calculator app to help prospective borrowers see how much proceeds they may be eligible to receive.
Older adults are increasingly becoming more tech savvy in the way they access, browse and shop on the Internet. Today, about 60% of Americans age 65 and older report online use and 77% report having a cell phone, according to latest Older Adults and Technology Use survey from Pew Research Center.
To meet the needs of the mobile demographic, All Reverse released its Reverse Mortgage Calculator app Friday, which can be downloaded for free on Apple and Google mobile devices via the iTunes and Google Play stores.
“Naturally, I wanted to accommodate our visitors with not only a mobile friendly version of our website, but also an application that works on their phones and tablets, allowing us to be with you at the kitchen table, on the couch, or on the go,” said All RMC President Cliff Auerswald in a written statement.
Through an analysis of its online traffic data, All RMC found that mobile traffic among those seeking reverse mortgage information had increased exponentially over the past year.
Users of the app can enter a few pieces of information, including their age and estimated home value, to get a picture of how much they may be eligible to borrow under the Federal Housing Administration’s Home Equity Conversion Mortgage program.
Additionally, users can also use the app to compare available loan programs to find a reverse mortgage that best fits their needs. Users can elect to have a quote delivered by email or start the application process and be on their way to getting a reverse mortgage with All RMC.
“Years ago, when people were still saying that seniors don’t go online, or only trust face-to-face interactions, All Reverse Mortgage Company was busy learning about marketing to the online consumer,” says Auerswald. “Well, it turned out that older Americans now represent one of the fastest-growing age groups to go online.”
Written by Jason Oliva