The internet is an excellent tool for consumers to research many lending products.  However, it is important to be selective when researching financial products and seek advice from a trusted resource.  Reverse mortgages are no exception.  Many websites offer a “free reverse mortgage calculator” that allows consumers to enter their home and personal information and calculate whether they’re eligible for a loan and, if so, how much of their home equity they could access.

Some calculators also detail how consumers can tap into their home equity.  For most borrowers, this means considering the home equity conversion mortgage HECM reverse mortgage, which the Federal Housing Administration insuresFor some, it also means considering one of the private/proprietary or jumbo reverse mortgage programs if the individual lives in a higher-valued home and wishes for a reverse mortgage that will accommodate a larger loan amount than the government programs. 

The calculators typically break down how much a borrower would get if they receive their reverse mortgage funds in a lump sum, a monthly payment, or a line of credit.

Best Reverse Mortgage Calculators (No Personal Information Required)

Be Cautious of Calculators Disguised as a Lead Form

Some lenders appear to provide reverse mortgage calculators on their websites.  However, some are hosted by third parties who may pass information to lenders, and some are more intrusive to borrowers about information requirements.  It’s important to use caution when these sites ask for your contact information to avoid receiving annoying follow-up solicitations. 

Here are a few reverse mortgage calculators that don’t require personal info:

1.  National Reverse Mortgage Lenders Association (NRMLA) Calculator

This calculator from the trusted lender ethics advocacy organization is simple: consumers enter their zip code, slide the bar to the youngest borrower’s age, and add their home’s value.  The calculator then delivers a rough estimate for money available to the borrower(s) on an annual adjustable loan, a monthly adjustable loan, and a fixed rate option.

You can make some minor changes, but the options are limited, and a lender does not supply the calculator, so it must assume rates and fees that may be higher or lower than those available.  This makes it an excellent place to start, but you may need an accurate picture of what is available to you for your circumstances.

Visit the NRMLA Calculator here.

Screenshot of National Reverse Mortgage Lenders Association Free Calculator

2.  Free Reverse Mortgage Calculator by All Reverse (No Personal Information Required)

Consumers are asked to enter their zip code, mortgage balance (if any), home value, name, and date of birth for themselves and any co-owners.  Input your zip code, property value, and date of birth to view your eligibility instantlyYou may receive information for the HECM and the jumbo/proprietary programs available if those are also advantageous for you based on your property value. 

For each option, you can check out loan details that break down finance fees for origination costs (which vary depending on the type and rate of the loan) and amortization schedules going up to 20 years.

You can also choose the loan option they are most interested in based on actual loan charges, best for the long term, etc.  If you are not interested, All Reverse will not aggressively contact you to try to “sell you” on a product you have determined is not right, as your private information is not asked for nor stored on our website. 

Screenshot of ARLO Free Reverse Mortgage Calculator

3.  The Retirement Researcher (third-party) calculator

This generic calculator requires borrowers to input many loan terms and their specific age and property information.  It will also inform borrowers about HUD factors determining the amounts borrowers can receive before costs and other considerations.

It does not compute the costs or interest rates; the borrower must know these to use this calculator.  This calculator will allow borrowers to add parameters such as set aside amounts required for repairs or due to income or credit requirements.  Still, it cannot tell you if you will need one or the amount if that becomes necessary.

Again, the borrower must know that information to use this calculator properly.  This calculator cannot show you the costs of any lender, so while it may help borrowers understand the basics of the programs, it will not allow them to shop for the loan and gives no information about programs other than the HUD HECM products.

Screenshot of Retirement Researcher Calculator



How does a free reverse mortgage calculator work?

A free reverse mortgage calculator utilizes information specific to borrowers to determine how much they can receive from a reverse mortgage.  This includes the age of the youngest borrower or spouse, the estimated home value, the amount of existing lien(s), if any, and the zip code location of the property.  It combines this data with current interest rate options to determine a Principal Limit figure, which is the loan amount someone can receive based on these circumstances.  The interest rate can increase or decrease this figure depending on current market trends.  The lower the rate, the higher the dollar amount that can be borrowed.  Further explanation can be found in my article on

How much money do you get from a reverse mortgage?

The amount of money a borrower receives from a reverse mortgage depends on 4 key factors.  Those factors are their age, home value, existing liens owed, and current interest rates available.  The older someone is, the higher the percentage of the value they can borrow.  Simultaneously, interest rates are also factored into this formula.  The lower the rates, the higher the percentage you can receive.

How is reverse mortgage interest calculated?

A reverse mortgage loan does not require any monthly mortgage payment, so the interest is added to the outstanding loan balance monthly.  Interest only accumulates on the actual balance.  If a borrower has an available line of credit, interest does not accrue on that amount.  While the loan program is designed in this matter, this does not prevent a borrower from making voluntary payments of any amount of interest if that is their choice.

What is the current interest rate for a reverse mortgage?

The interest rates for a reverse mortgage loan are subject to change routinely, just like a conventional loan.  As the market fluctuates, so will the rates for a reverse mortgage loan.  A borrower must obtain a current quote from a reverse mortgage lender to obtain a current interest rate.

What is the downside to a reverse mortgage?

One downside of a reverse mortgage is that the property must remain your primary residence.  If you leave your home longer than 12 consecutive months, the servicer can call the loan due and payable.  Your loan balance will increase since a reverse mortgage does not require monthly payments.  If you decide to move and sell your home years after obtaining a reverse mortgage, there is the potential for less equity in the home due to that increasing loan balance.

When does it make sense to get a reverse mortgage loan?

A reverse mortgage makes the most sense when you desire to remain in your home and are looking for additional funds to supplement your income and assist with property expenses such as taxes and insurance, as well as routine maintenance and repairs.

Why do reverse mortgage calculators ask for personal information?

Reverse mortgage calculators ask for some details to give you an accurate estimate.  For an exact quote, they need your birthdate, the zip code of the property, its value, and any outstanding mortgage amount.  However, you don’t have to give your social security number to get a quote.  If you’re simply curious about how much you might be eligible for without an official quote, you don’t have to provide any sensitive personal details.  The calculators do need a zip code to figure out specific costs like taxes, which can vary significantly from one place to another.  For example, due to extra taxes, Florida has higher closing costs than Arizona or California.  But you can use a nearby zip code instead of your own for a rough estimate.  The calculator requires the value of your property and any remaining mortgage balance to calculate how much you could receive upfront or within the first year, and the options for lump sum payments.  This info isn’t considered personal, like your name, social security number, phone number, or address.  So, you can share it without worrying about privacy, especially since you can use approximate data like a different zip code or birthdate.  The website is designed to protect your anonymity, not keeping track of personal details.  You’re encouraged to try it out yourself and see that no identifying information is needed or retained, ensuring your privacy throughout the process.

Summary: Which Calculator is Best?

  • All these calculators can be helpful.  We believe that the All Reverse Loan Optimizer (ARLO) by All Reverse Mortgage, Inc. is the best for borrowers shopping for a reverse mortgage because it allows them to receive real numbers in real-time with accurate costs, no matter where they live in the country.
  • You can modify your information so that the proposal you receive meets your needs and comes with current rates and fees offered by All Reverse Mortgage, Inc.  You never need to supply your social security number to receive your information, and if you do not wish to be contacted, all you need to do is let us know, and we will respect your wishes.
  • We will never hound you just because you visited our site, but we will always be ready to assist you if you desire.  Our calculator includes information for the HUD Home Equity Conversion Mortgage (HECM), the government-insured reverse mortgage, and the jumbo or private programs for homes with values exceeding the HUD maximums.
  • And unlike some companies, we will send you a written proposal so you can compare.  We will not give you just a partial list of costs to make things look better (some leave out HUD fees or title fees on their initial proposals) but a complete list of every known cost so you can compare.
  • We encourage you to shop around and compare, and you will see that not all lenders are the same or offer upfront pricing on their calculators.  If you are in the market for a reverse mortgage, please take a moment to stop by our full version of the reverse mortgage calculator and see if the numbers look right for you.

Guide to All Reverse Mortgage Calculators

Type of CalculatorPurposeFeaturesIncludes Rates/APR
Free Reverse Mortgage CalculatorBasic Calculations for Estimating Monthly Payments, Single Lump-Sum Payouts, and Available Line of CreditQuickly Estimate Your Reverse Mortgage Payout Without Personal Details.No
All Reverse Mortgage CalculatorDetailed Calculations for Monthly Payments, Single Lump-Sum Disbursement, and Line of Credit OptionsCalculation of What You Could Get from a Home Equity Conversion Mortgage (HECM) or Jumbo/Proprietary Reverse MortgagesYes
Reverse Mortgage Line of Credit CalculatorSpecialized Tool for Estimating HECM Line of Credit and Simulating Credit Line Growth RatesEstimates Your Available Credit Line from a Reverse Mortgage and Projects Its Growth Over Time.No
Reverse Mortgage Refinance CalculatorHECM to HECM Refinance AnalysisAssists in Evaluating Whether Refinancing Your Existing Reverse Mortgage is Advantageous, Considering Current Home Value, Interest Rates, and the 5x Benefit Rule.No
Reverse Mortgage for Purchase CalculatorHECM for Purchase Calculates the Funds Needed to Buy a New Home with a Reverse Mortgage, Taking into Account Your Down Payment and Net Income from the Sale of Your Current Home.Yes
Reverse Mortgage Amortization CalculatorLoan Balance and Equity Simulator, Negative Amortization SchedulesOffers a Comprehensive Analysis of Loan Balance, Equity, and Accrued Interest Changes Throughout the Life of a Reverse Mortgage, Complete with an Excel File for Personal Tracking.Yes
This chart outlines the variety of calculators from All Reverse Mortgage, tailored to your needs for reverse mortgages. It's arranged with four easy-to-understand sections: the type of calculator, its purpose, its features, and information on whether it includes rates and APR details.

Do you need assistance or have any questions about which calculator to use? Don't hesitate to reach out to us. Our expert team is just a phone call away at (800) 565-1722, ready to offer you tailored advice and support.