Reverse Mortgage Calculator
United States Uses U.S. federal housing program rules (FHA or VA). Figures are in U.S. dollars.
Reverse mortgage calculator: HECM proceeds from HUD’s factor table for your age and rate, the 2026 limit, costs, first-year limit and balance growth.
Educational estimate only. Not a lending decision. Your numbers stay in this browser.
Results
How to read this: the verdict describes how much room your numbers leave, not a decision or an offer. Change any input to see how much the result moves.
Mortgage guides
These guides explain mortgage payment, amortization, extra-payment, housing-cost, and closing-cost concepts behind the calculator.
- How mortgage payments work
- Mortgage amortization explained
- Extra mortgage payments explained
- Mortgage taxes, insurance and PMI
- Closing costs explained
For all guide topics, open Guides. For source and estimate boundaries, read Calculation Methodology and Sources and Assumptions.
Assumptions and formula
The maximum claim amount is the lower of the home value and the 2026 HECM limit of $1,249,125. HUD’s principal limit factor for the youngest age and the expected rate (rounded to the nearest 0.125%, with a 3% floor) times that amount is the principal limit. Upfront mortgage insurance (2%), origination, other closing costs and any mortgage payoff come out of it, leaving the net principal limit.
In the first year HUD lets you draw 60% of the principal limit, or your mandatory obligations plus 10% of it if that is more. The balance then grows each month at the note rate plus 0.5% a year mortgage insurance. The factors come from HUD’s table effective since 2 October 2017, taken from a published copy because hud.gov blocks automated downloads; your lender’s figures are final.
Worked example
A $400,000 home, youngest borrower 70, expected rate 6.75%: HUD’s factor is 0.381, so the principal limit is $152,400. Upfront insurance of $8,000, a $6,000 origination fee, $3,500 of other costs and a $50,000 mortgage payoff total $67,500, leaving $84,900. The first-year cap is $91,440 (60%), so $23,940 is available in year one. At 7.25% the balance is about $188,000 after 10 years.
How much a reverse mortgage can lend by age and rate
The most a HECM reverse mortgage can lend, its principal limit, is the home value (capped at the $1,249,125 limit) times a factor HUD sets by the youngest borrower's age and the expected interest rate. The table shows the principal limit on a $400,000 home, using the same factor table as the calculator.
| Youngest borrower age | 5% expected rate | 6% expected rate | 7% expected rate |
|---|---|---|---|
| 62 | $164,000 | $142,800 | $124,800 |
| 65 | $172,000 | $151,200 | $133,200 |
| 70 | $186,000 | $166,000 | $148,000 |
| 75 | $196,800 | $177,200 | $160,000 |
| 80 | $213,600 | $195,200 | $178,400 |
| 85 | $236,400 | $219,600 | $204,400 |
| 90 | $261,200 | $247,200 | $234,400 |
Two things drive the amount. An older borrower can borrow more, because the loan is expected to run for fewer years before it is repaid. A lower expected rate also allows more, because less interest builds up over that time. The principal limit is not cash in hand: upfront mortgage insurance, the origination fee, other closing costs and any existing mortgage are paid from it first, and HUD limits how much can be drawn in the first year.
A reverse mortgage is repaid when the last borrower sells, moves out or dies, usually from the sale of the home. You remain responsible for property taxes, insurance and upkeep, and falling behind on them can trigger repayment. HUD requires counseling from an approved agency before you apply, and it is worth comparing a reverse mortgage with downsizing or a home equity loan first.
Frequently asked questions
Why is my reverse mortgage less than half my home’s value?
HUD’s factors leave room for the balance to grow: at age 70 and a 6.75% expected rate you can borrow 38.1% of the value, and costs come out of that.
How much can I get from a reverse mortgage?
Your home value (up to $1,249,125 in 2026) times HUD’s principal limit factor for your age and the expected rate, less costs and any mortgage payoff. A 70-year-old with a $400,000 home at 6.75% has a principal limit of $152,400.
What is the principal limit factor?
The share of the home’s value you can borrow, from HUD’s table by the youngest borrower’s age and the expected interest rate. At age 62 and 5% it is 0.410; at 70 and 6.75% it is 0.381. Older borrowers and lower rates get more.
What does a reverse mortgage cost?
Upfront FHA mortgage insurance of 2% of the home value up to the limit, an origination fee of $2,500 to $6,000, other closing costs, then interest plus 0.5% a year insurance on the balance.
Why can I only take part of the money in the first year?
HUD limits first-year draws to 60% of the principal limit, or the amount needed to pay off your mortgage and costs plus 10% if that is more. The rest becomes available after 12 months.
How fast does a reverse mortgage balance grow?
At the note rate plus 0.5% mortgage insurance, compounding monthly with no payments. At 7.25% a balance roughly doubles in 10 years.
Is this a HECM calculator?
Yes: a reverse mortgage calculator and HECM calculator using HUD’s own factor table, with the reverse mortgage amortization of the balance over time.
Can I use this reverse mortgage calculator without personal information?
Yes. It asks for no name, phone number or email: only the home value, age, rate and any mortgage. It is a reverse mortgage loan calculator that also shows the lump sum you could take in the first year.
Sources
Sources reviewed 4 October 2026: checked against their current editions on that date.
- HUD HECM Principal Limit Factor tables effective 2 October 2017, from a published copy (reversemh.com); hud.gov blocks automated access. Open item PRE-RM-01: check against HUD’s file.
- HUD Mortgagee Letter 2025-22: 2026 HECM maximum claim amount $1,249,125.
- HUD Mortgagee Letter 2017-12: upfront MIP 2%, annual MIP 0.5%.
This page is an educational estimate, not personal financial or tax advice. Eligibility and individual circumstances can change the result.