Source-checked June 11, 2026

Reverse Mortgage Calculator

Use this free reverse mortgage calculator to estimate possible HECM reverse mortgage proceeds, fees, payout options and remaining equity. Enter the youngest borrower’s age, estimated home value, existing mortgage balance and expected interest rate to get a private browser-based estimate.

No personal information required: this calculator does not ask for your name, email, phone number, address, Social Security number or credit details. It runs in your browser and is designed for early planning before speaking with a lender or HUD-approved counselor.

No Personal Info Required HECM-Style Estimate 2026 HECM Limit Lump Sum & Monthly Fee Breakdown Equity Analysis

Estimate your reverse mortgage proceeds

Enter your home details to estimate the gross principal limit, required deductions, net available proceeds and remaining equity. This is an educational estimate, not a lender quote or approval.

Youngest borrower's age

Use the youngest borrower or eligible non-borrowing spouse. HECM borrowers must generally be 62 or older.

Estimated home value ($)

Use an estimated market value or appraised value for the primary residence.

Existing mortgage balance ($)

Any current mortgage must usually be paid off from the reverse mortgage proceeds.

Expected interest rate (%)

Enter a lender-provided expected rate or scenario rate. Rates change; lower expected rates generally increase available proceeds.

Payout option

Choose how you want to model the estimated net proceeds.

Estimated closing costs ($)

Third-party costs such as appraisal, title, recording and settlement fees.

Property type

No personal information collected. The estimate is calculated locally in your browser. No data is sent to RevisionTown.

Your reverse mortgage estimate

Enter your home details and click calculate to see estimated HECM proceeds, required fees, monthly payment options and remaining equity.

Estimated available proceeds$0

Principal limit (gross)$0

Upfront MIP (2%)$0

Origination fee$0

Closing costs$0

Existing mortgage payoff$0

Monthly payment estimate—

Remaining home equity$0

Principal limit factor0.000

Full estimate breakdown

Enter your home details to see the complete estimate.

This reverse mortgage estimator provides approximate estimates for education and planning. Actual HECM loan amounts depend on FHA appraisal, counseling, financial assessment, current HUD tables and lender-specific criteria. This tool is not a loan offer.

What is a reverse mortgage calculator?

A reverse mortgage calculator estimates how much home equity a homeowner age 62 or older may be able to access through a Home Equity Conversion Mortgage, also called a HECM. Instead of showing a standard monthly mortgage payment, this calculator estimates the possible principal limit, upfront mortgage insurance, origination fee, closing costs, existing mortgage payoff and net proceeds.

The estimate depends mainly on the youngest borrower’s age, the home value or HECM limit, the expected interest rate, and any existing mortgage balance. HUD explains that available HECM withdrawal amounts depend on the youngest borrower or eligible non-borrowing spouse, the current interest rate and the lesser of the appraised value, HECM FHA mortgage limit or sales price.

This tool is useful before contacting lenders because it shows the moving parts privately. A final HECM quote still requires a lender calculation, FHA appraisal, financial assessment and HUD-approved counseling.

2026 HECM limit update

For calendar year 2026, HUD lists the nationwide HECM maximum claim amount as $1,249,125 for FHA case numbers assigned on or after January 1, 2026. This calculator uses that cap when estimating the Maximum Claim Amount.

How this reverse mortgage estimate works

This calculator uses a simplified HECM-style estimate. It is designed to explain the calculation logic, not replace a lender’s official worksheet. The estimate follows five practical steps:

Maximum Claim Amount (MCA). The MCA is the lesser of the appraised home value or the 2026 HECM maximum claim amount of $1,249,125.
Principal Limit Factor (PLF). The PLF is estimated from the youngest borrower’s age and expected interest rate. Older age and lower rates usually increase the PLF.
Gross principal limit. The MCA is multiplied by the PLF to estimate the gross principal limit.
Mandatory deductions. Upfront MIP, origination fee, closing costs and existing mortgage payoff are subtracted.
Net available proceeds. The remainder is the estimated amount available as a lump sum, monthly payment option or line of credit.

The core reverse mortgage formulas

These formulas show the simplified math behind the calculator.

$$\text{MCA} = \min(\text{Appraised Home Value},\; \$1{,}249{,}125)$$

$$\text{Principal Limit} = \text{MCA} \times \text{PLF}(\text{age},\, \text{rate})$$

$$\text{Upfront MIP} = \text{MCA} \times 0.02$$

$$\text{Origination Fee} = \min\!\Big(\$6{,}000,\; \max\!\big(\$2{,}500,\; \$200{,}000 \times 0.02 + \max(0,\, \text{MCA} - \$200{,}000) \times 0.01\big)\Big)$$

$$\text{Net Proceeds} = \text{Principal Limit} - \text{Upfront MIP} - \text{Origination Fee} - \text{Closing Costs} - \text{Mortgage Payoff}$$

$$\text{Monthly Tenure Payment} \approx \frac{\text{Net Proceeds} \times r_m}{1 - (1 + r_m)^{-n}}$$

$$\text{Monthly Term Payment} = \frac{\text{Net Proceeds}}{\text{Term Months}}$$

$$\text{Remaining Equity} = \text{Home Value} - \text{Principal Limit}$$

Understanding the Principal Limit Factor

The Principal Limit Factor is the percentage of the Maximum Claim Amount that the borrower may be able to access before required deductions. It is one of the most important inputs in a reverse mortgage estimate. It is affected by the youngest borrower’s age and the expected rate. The table below is an approximate calculator reference, not an official HUD PLF table.

In general, older borrowers receive higher PLFs because the expected loan duration is shorter. Lower expected rates also tend to produce higher PLFs because the projected loan balance grows more slowly.

Approximate principal limit factors used by this calculator

This reference table shows approximate PLF values used by this educational estimator. Actual HECM PLFs are published by HUD and lender calculations may differ based on current program tables and pricing.

Approximate principal limit factors by borrower age and expected interest rate
Borrower Age	Rate 5.5%	Rate 6.0%	Rate 6.5%	Rate 7.0%	Rate 7.5%
62	0.432	0.394	0.360	0.329	0.301
65	0.465	0.427	0.392	0.360	0.331
68	0.498	0.460	0.425	0.392	0.362
70	0.519	0.481	0.446	0.413	0.383
72	0.540	0.504	0.469	0.436	0.406
75	0.572	0.537	0.503	0.471	0.441
78	0.605	0.572	0.540	0.509	0.480
80	0.627	0.595	0.564	0.534	0.506
85	0.682	0.654	0.627	0.601	0.576
90	0.734	0.711	0.688	0.666	0.645

Reverse mortgage fees explained

Reverse mortgage fees reduce the amount of equity available to the borrower, so they should be visible in any serious calculator. This tool models the main required deductions: upfront mortgage insurance, origination fee, closing costs and any existing mortgage payoff.

Upfront mortgage insurance premium

The FHA upfront mortgage insurance premium is modeled at 2% of the Maximum Claim Amount. The insurance supports the non-recourse protection that prevents the borrower or estate from owing more than the applicable home value when the loan is repaid.

Origination fee

The origination fee is modeled using the common HECM cap structure: 2% of the first $200,000 plus 1% above that amount, with a $2,500 floor and $6,000 cap. This is why higher-value homes do not keep increasing origination fees indefinitely.

Third-party closing costs

Closing costs can include appraisal, title, recording, settlement and other third-party charges. The calculator lets you adjust this number because costs vary by property and location.

Reverse mortgage payout options

This calculator supports the main HECM payout styles. Each one answers a different planning need:

Lump sum. Useful when a borrower needs a larger amount upfront, often to pay off an existing mortgage or cover a major expense.
Tenure payments. Estimates a monthly payment for as long as the borrower remains eligible and occupies the home as a primary residence.
Term payments. Estimates monthly payments over a fixed number of years selected by the user.
Line of credit. Models the proceeds as funds that can be drawn as needed rather than as a fixed monthly payment.

Non-recourse protection

HECM reverse mortgages are non-recourse loans. That means the borrower or estate does not owe more than the loan balance or the home value, whichever is less, when the loan is repaid. This is a key HECM consumer protection, but borrowers still must meet ongoing loan obligations.

Who qualifies for a reverse mortgage in 2026?

HECM eligibility depends on borrower age, property type, residence status and financial assessment. This calculator is for planning, not qualification approval.

Age: The borrower must generally be at least 62 years old.
Primary residence: The home must be used as the borrower’s primary residence.
Property type: Eligible property types may include single-family homes, FHA-approved condos, qualifying manufactured homes and 2–4 unit owner-occupied properties.
Home equity: There must be enough equity for the estimated principal limit to cover required deductions and any existing mortgage payoff.
Financial assessment: Lenders review whether the borrower can keep paying property taxes, homeowners insurance and maintenance costs.
HUD counseling: HECM borrowers must complete counseling with a HUD-approved reverse mortgage counselor.
2026 HECM cap: The nationwide 2026 HECM maximum claim amount is $1,249,125.

Reverse mortgage vs HELOC or home equity loan

A reverse mortgage differs from a HELOC or home equity loan because the borrower generally does not make monthly mortgage payments while the HECM remains in good standing. A HELOC or home equity loan may have lower upfront costs, but it requires repayment during the loan term. A reverse mortgage may be more useful for a long-term homeowner on fixed retirement income, while a HELOC may fit borrowers who can comfortably make payments and want shorter-term access to equity.

How interest accrual affects remaining equity

A reverse mortgage balance grows over time because interest and mortgage insurance accrue instead of being paid monthly. This can reduce remaining equity, especially over long periods. For a simplified lump sum estimate:

$$\text{Loan Balance at Year } t = \text{Initial Draws} \times (1 + r)^t$$

For example, a $150,000 draw at 6.5% for 10 years would grow approximately as:

$$\$150{,}000 \times (1.065)^{10} \approx \$281{,}700$$

This is why the calculator includes both net proceeds and estimated remaining equity. Borrowers should review the long-term equity impact before proceeding.

Reverse mortgage fee comparison

Typical reverse mortgage fee components and how they are paid
Fee component	Typical amount	How it is paid	Purpose
Upfront MIP	2% of MCA	Usually financed into loan	FHA insurance protection
Annual MIP	0.5% of loan balance	Accrues over time	Ongoing FHA insurance premium
Origination fee	$2,500–$6,000	Financed or paid at closing	Lender processing and underwriting
Third-party closing costs	Varies by property	Financed or paid at closing	Appraisal, title, recording and settlement costs
HUD counseling	Varies by agency	Usually paid by borrower	Required consumer counseling

Common reverse mortgage myths

Myth: The bank owns your home. You keep title to the home. The lender has a lien, similar to a traditional mortgage.

Myth: Your heirs are personally stuck with the debt. HECM non-recourse protection prevents the estate from owing more than the home value or loan balance, whichever is less.

Myth: No obligations remain. Borrowers must keep paying property taxes, insurance, HOA dues if applicable, and maintain the property as the primary residence.

Myth: Calculator results are the final offer. A calculator result is only an estimate. A lender quote and HUD counseling are required before application and closing.

Reverse mortgage calculator FAQs

How much money can I get from a reverse mortgage?

The amount depends mainly on the youngest borrower’s age, the home value or HECM cap, the expected interest rate, required mortgage insurance, origination fees, closing costs and any existing mortgage payoff. Older borrowers and lower expected rates usually increase the estimated amount.

Can I use this reverse mortgage calculator without personal information?

Yes. This calculator does not ask for a name, email, phone number, address, Social Security number or credit information. It runs in your browser and is intended for private early-stage planning.

What is the 2026 HECM lending limit?

HUD lists the 2026 nationwide HECM maximum claim amount as $1,249,125. The calculator uses the lesser of your estimated home value or that limit as the Maximum Claim Amount for HECM-style estimates.

Do I have to make monthly payments on a reverse mortgage?

Generally, no monthly mortgage payment is required while you meet the loan obligations. You must still pay property taxes, homeowners insurance, HOA dues if applicable, and maintain the home as your primary residence.

What happens when the reverse mortgage borrower dies?

The loan becomes due. Heirs may sell the home, pay off the loan to keep the home, refinance, or decline the property. For HECM loans, non-recourse protection means the borrower or estate does not owe more than the home value or loan balance, whichever is less.

Is this calculator a lender quote?

No. This is an educational estimator. A real HECM quote requires a lender calculation, FHA appraisal, current HUD PLF tables, financial assessment, mandatory counseling and final underwriting.

Can I lose my home with a reverse mortgage?

You can face default or foreclosure if you do not meet ongoing obligations such as paying property taxes, keeping homeowners insurance current, maintaining the home and using it as your primary residence.

Is a reverse mortgage a good idea?

It depends on your goals, age, home equity, family plans, tax situation and alternatives. A reverse mortgage may help long-term homeowners who want to access equity without monthly mortgage payments, but it can reduce remaining home equity and should be reviewed with a HUD-approved counselor.

Educational use only: This calculator provides approximate estimates and does not make, broker or offer loans. Reverse mortgages are complex financial products. Confirm current rules, costs and eligibility with a lender and a HUD-approved counselor before making a decision.