Reverse Mortgage Calculator
Estimate how much you could receive from a reverse mortgage based on your home's value, your age, and current interest rates.
Estimated Available Funds
A Reverse Mortgage (HECM) lets homeowners aged 62+ convert home equity into cash without monthly mortgage payments.
Available Funds ≈ Home Value × Principal Limit Factor - Closing Costs
Principal Limit Factors depend on age and interest rate:
- Younger borrowers (62) get less (~40-50% of home value)
- Older borrowers (80+) get more (~60-75% of home value)
- Lower interest rates = higher available funds
Key facts:
- Must be age 62 or older
- Must be your primary residence
- 2026 HECM lending limit: $1,209,750
- Closing costs typically 2-5% of home value
- The loan is repaid when you move, sell, or pass away
Payment options: Lump sum, monthly payments, line of credit, or combination.
Caution: Reverse mortgages reduce your estate value and have higher fees than traditional loans.