Loan Types

Reverse Mortgage Calculator

Estimate your HECM principal limit, net proceeds after paying off your existing mortgage, and monthly payment options.

Educational Estimate Only. Reverse mortgage calculations require a HUD-approved HECM counselor and a licensed reverse mortgage specialist. This calculator provides an approximation only. Actual amounts will differ based on the expected interest rate, property type, and other factors. Reverse mortgages are complex — please consult a HUD-approved counselor before proceeding.

Your Situation

Home Value (Appraised)

Age of Youngest Borrower — 70

6295

Existing Mortgage Balance

HECM Estimate

Based on age 70, PLF 48.8% · 2024 HECM lending limit: $1,149,825

Principal Limit

$292,800

Net Proceeds

$171,800

Monthly Tenure

$954/mo

Approx. lifetime payment

Line of Credit

$171,800

Full lump sum available

Estimated Upfront Costs

Upfront MIP (2% of max claim)$12,000

Origination Fee (est.)$6,000

Closing Costs (est.)$3,000

Total Costs$21,000

This is an educational estimate only. Actual HECM proceeds depend on the expected interest rate at closing, a HUD appraisal, and counseling completion. Contact a HUD-approved reverse mortgage counselor at 1-800-569-4287.

Reverse Mortgage Questions?

Talk to a Specialist

Get connected with a Florida-licensed HECM specialist who can provide exact numbers for your situation.

Reverse Mortgage Facts

Must be 62+

The youngest borrower on the title must be at least 62. Non-borrowing spouses under 62 have special protections.

No monthly payments required

You don't make monthly mortgage payments. The loan is repaid when you sell, move out, or pass away.

You keep the title

You remain the owner of your home. The lender has a lien, but the title stays in your name.

All Calculators