A reverse mortgage calculator estimates how much equity a homeowner aged 62 or older can access through a HECM or jumbo reverse mortgage. Results are based on age, home value, ZIP code, existing mortgage balance, and current interest rates. Our calculator uses the same pricing engine our underwriting team uses internally — so what you see is what we would actually quote you today.

No personal information required. The calculator does not ask for your Social Security number, does not pull your credit, and does not require contact information to view results. It is built for research, not application.


How Our Calculator Is Different from Other Free Tools

Most online reverse mortgage calculators return a generic loan-to-value estimate based on national-average assumptions. Real numbers depend on your ZIP code, current daily pricing, the lender’s margin tied to today’s index, and the specific fees in your state.

Our calculator pulls all of those in real time:

  • Real-time interest rates and APR — updated daily for both fixed and adjustable HECM options.
  • ZIP-code-accurate closing costs — actual title, appraisal, and recording fees for your state and county, not national estimates.
  • HECM and Jumbo side-by-side — see how payouts, rates, and costs differ across HUD-insured and proprietary programs for higher-value homes.
  • Goal-based comparison views — isolate the program that best matches your goals of maximizing proceeds, preserving equity, or minimizing closing costs.
  • Full amortization schedule — see how the loan balance and your remaining equity change year by year.

How to Use the Calculator

  1. Enter your ZIP code and click “Show My Options.” The calculator pulls the $1,249,125 HUD lending limit and state-specific fees for your area.
  2. Enter your street address and click “Look Up My Home.”
  3. Confirm your home value. The calculator pulls a starting estimate from public data, but you can adjust it up or down since automated valuations are not always accurate. Enter any existing mortgage balance, then click “Calculate My Options.”
  4. Add your date of birth (and your spouse’s if married). Age is one of the largest factors in how much you qualify for. Borrowers within six months of their next birthday round up. Click “See My Options.”
  5. Review your results. You can adjust any input as many times as you want. If you would like a copy emailed to you, add your contact information — but this step is optional. Results are visible without it.

Compare Reverse Mortgage Options Side by Side

The calculator runs multiple scenarios at once so you can decide which option fits your retirement plan. You can model lump-sum payouts, term payments, and line-of-credit options with a growth rate, then compare each against the others.

Three quick-view tabs isolate the product best matched to a specific goal:

1. Most Funds Available

Shows the product that delivers the largest cash payout at closing. This is typically the right view if you need to pay off an existing mortgage, eliminate consumer debt, or fund a major expense like a home renovation. Maximum-payout products often use a fixed rate with a full draw, which means giving up the line-of-credit growth feature available on adjustable options.

Reverse mortgage calculator showing Most Funds Available view with HECM and fixed-rate options, payouts, and loan balances.


2. Protect My Equity

Shows the product with the lowest starting interest rate currently available. A lower rate means slower balance growth, which preserves more equity in the home for you and your heirs. This is the right view if you want access to funds in the future but want to retain as much equity as possible. Open the amortization schedule to see year-by-year how much equity stays intact.

Reverse mortgage calculator showing Protect My Equity view with the lowest-rate HECM option and amortization preview.


3. Lowest Closing Costs

Shows the product with the smallest upfront fees. This view prioritizes keeping closing costs down over maximizing proceeds. It is usually the right choice if you have a shorter timeline for keeping the loan in place. Compare the closing-cost savings against the smaller payout to make sure the math still works for your situation.

Reverse mortgage calculator showing Lowest Closing Costs view with minimized upfront fee scenarios.


When a Reverse Mortgage May Not Be the Right Choice

Qualifying for a reverse mortgage does not always mean the loan is the right move. There are situations where another option is better:

  • Short-term plans for the home. If you may sell or move within a few years, the upfront costs of a reverse mortgage rarely pay off. A HELOC or short-term financing often makes more sense.
  • Heirs who want to keep the home. Heirs can keep the property, but they will need to pay off the loan balance, typically by refinancing. Have that conversation before you apply.
  • Difficulty keeping up with property charges. A reverse mortgage requires you to stay current on property taxes, homeowners insurance, and maintenance. If those payments are already a struggle, a financial assessment set-aside may be required.
  • Means-tested benefits. Loan proceeds are not income, but funds left in the bank can affect Medicaid and SSI eligibility. Talk to a benefits specialist before drawing a large lump sum.
  • Limited equity. If your existing mortgage balance is close to your home’s value, the proceeds may not be enough to make the upfront costs worthwhile.

HUD requires independent counseling before any HECM closing. Every borrower completes a session with a HUD-approved counselor who walks through alternatives, costs, and obligations with no pressure to proceed. Learn more about HECM counseling.


Frequently Asked Questions

Yes. The calculator is free, requires no account, and has no usage limit. Run as many scenarios as you need.
No. The calculator never asks for a Social Security number. Only an application requires one, and you are not applying when using the calculator.
No. The calculator does not pull credit and does not generate a credit inquiry. Nothing related to using this tool appears on your credit report.
The calculator uses the same loan pricing engine our underwriting team uses internally, with rates updated daily and ZIP-code-specific fees. Estimates are accurate based on the information you provide. A formal quote requires a complete application and underwriting review, including an appraisal.
A HECM requires at least one borrower to be 62 or older. If you are married and one spouse is 62 or older while the other is under 62, the younger spouse can be listed as an eligible non-borrowing spouse. The calculator handles this scenario when you enter both dates of birth. Learn more about non-borrowing spouse protections.
Your ZIP code, your home’s approximate value, your existing mortgage balance (if any), and your date of birth. That is all. No contact information is required to see your full results.
The amount depends on four factors: your home’s current value (higher value means a larger loan), the age of the youngest borrower (older borrowers qualify for more), current interest rates (lower rates increase the loan amount), and your existing mortgage balance (less owed means more proceeds available). At current rates (5.75% to 6.25% expected), a 70-year-old typically qualifies for about 41.5% of their home’s value, up to the $1,249,125 HUD lending limit.
Two rates apply. The expected interest rate (lender’s margin + 10-year CMT index) determines your initial loan-to-value ratio, monthly payment plans, and any tax-and-insurance set-aside. The initial interest rate (lender’s margin + 1-year CMT index) determines the interest that accrues on your balance and the line-of-credit growth rate. Both are pulled from current market data when you run a scenario.
A tenure payment continues for life as long as you live in the home. A term payment provides larger monthly installments for a fixed period you choose, often used to bridge income gaps until Social Security or a pension begins. Shorter terms produce larger payments. A term cannot extend past the borrower’s 100th birthday; if it does, the calculator defaults to a lifetime tenure payment.
Yes for refinance scenarios — enter your existing reverse mortgage balance and the calculator runs a HECM-to-HECM analysis. For home purchase scenarios (HECM for Purchase), use our dedicated HECM for Purchase calculator for a more accurate down-payment and sale-proceeds calculation.

“All Reverse Mortgage offered the clearest calculator with detailed results immediately. Their rates were lower, and their team quickly answered all our questions. Highly recommended!” — Peter H., Verified BBB Review

Important: Calculator results are estimates based on current pricing and the information you provide. They are not a loan commitment. A formal quote and final loan terms require a complete application and underwriting review.

See your real numbers above using the reverse mortgage calculator, or call (800) 565-1722 to speak with a specialist. All Reverse Mortgage, Inc. is America’s #1 rated HUD-approved direct reverse mortgage lender, with 20+ years of experience and a 4.99/5 customer satisfaction rating.


Other Reverse Mortgage Calculators

For specialized scenarios, see our companion tools: