This initial version of RapidReverse® is designed for the loan originator on the go. Within 10 seconds, the calculator can provide principal limits and net principal limits for a traditional HECM refinance. It will also provide the required investment for a HECM for Purchase.
RapidReverse® can save you time and energy when you don’t need to log into your loan origination system or even have access to an internet connection.
Imagine you are a MORTGAGE LOAN ORIGINATOR…
In a given month, you may reach out to a REALTOR®, a CFP®, a tax planner, an insurance agent, a home care provider, a CPA, your local senior center, a home builder, your local bank, an estate planner, and more. None of these potential referral partners have access to a reverse mortgage tool that will tell them whether their client is in the ballpark. Furthermore, we should not expect them to research it themselves.
Within 10 seconds, RapidReverse® provides your clients and referral partners with critical information, driving mortgage business to you.
Imagine for a moment you are a REAL ESTATE PROFESSIONAL…
You have heard about reverse mortgages. In fact, you may have obtained continuing education credits on the topic. However, you have no way of knowing if your 62-year old client would benefit from knowing about the product while showing the home. Of course, calculating a 20% downpayment for conventional financing is easy, but we have an older homebuyer – a 30-year fixed-rate mortgage makes no sense.
Within 10 seconds, RapidReverse® will show an estimated required investment based on the SALES PRICE and homebuyer AGE.