Reverse Mortgage Calculator

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Working with the Reverse Mortgage Calculator

With our free reverse mortgage loan calculator, no personal contact information is collected. Just respond to the questions above to get an estimate of the total proceeds you might receive from a reverse mortgage.

How do Reverse Mortgage Loan Calculators Work?

Our reverse mortgage loan calculator works by determining your eligibility and the amount you could potentially be eligible for based on several factors such as your home value, any existing mortgage balance, and your age.

Additional Calculator details

  • The Loan Estimate is the amount you could be eligible to receive, before fees, based on your home's value, your age and HUD's principal limit factor. Senior borrowers must be 62 years of age or older to be eligible for an FHA-insured Home Equity Conversion Mortgage (HECM).
  • You may elect to take your reverse mortgage payout in lump sum payments, monthly installments, a line of credit, or a combination of these.
  • HECM loans have a loan limit of $1,149,825, therefore you may notice that home values above $1,149,825 do not increase the loan estimate amount shown on our calculator. An AAG reverse mortgage professional can provide you an individualized consultation based on your particular situation and retirement goals.
  • As a homeowner, the equity in your home should be greater than your remaining mortgage balance. This is because your reverse mortgage funds will be used to pay off your existing mortgage as part of the transaction (a requirement of the loan).

Disclaimer: Tools and advice provided on this page are for borrower convenience, the results of calculations using this calculator are loan estimates, and terms produced by the calculator may not be presently available credit terms. Interest rates (fixed rate and adjustable rate, CMT index) and amortization, mortgage insurance premiums (MIP), origination fees, lender margins, payment options and closing costs may vary. In order to be eligible to apply for a reverse mortgage, one of the requirements to fulfill is to attend a counseling session with a counseling agency that is approved by the U.S. Department of Housing and Urban Development (HUD). Borrowers must continue to pay taxes, insurance, and home maintenance, as well as comply with loan terms. AAG/American Advisors Group are divisions of Finance of America Reverse LLC which is licensed nationwide | Equal Housing Opportunity | NMLS ID # 2285.