Reverse Mortgage Calculator
Estimate how much you could receive from a 2026 HECM reverse mortgage, based on your age and home value. Free, with no email or personal information required.
A HECM reverse mortgage typically gives access to between about 38% of the home's value at age 62 and about 72% at age 90 or older. The value counted is capped at the 2026 lending limit of $1,249,125. Upfront costs and any existing mortgage balance come out of that amount. This tool gives a simplified estimate. Your exact figure depends on interest rates when you apply, and HUD requires counseling before you can apply.
A reverse mortgage lets homeowners 62 and older turn home equity into cash with no monthly mortgage payment. The amount depends mainly on your age and your home's value. Enter your details below for a rough estimate.
Estimate Your Reverse Mortgage Proceeds
Your Simplified HECM Estimate
Your Maximum Claim Amount was capped at the 2026 nationwide HECM lending limit of $1,249,125, since your home's value exceeds it.
This is a simplified estimate
Your actual amount depends on the specific expected interest rate at application, which changes daily, and requires a full appraisal. HUD requires counseling with a HUD-approved HECM counselor before you can apply. The counselor will give you exact figures.
Other costs are not included in this estimate: origination fees, servicing fees, closing costs and an annual insurance premium of 0.5% of the loan balance. They reduce what you receive or are added to the loan balance over time.
How the amount is worked out.
- Maximum Claim Amount. The lesser of your home's value and the federal lending limit, $1,249,125 in 2026.
- Principal Limit Factor. A percentage based on your age and the expected interest rate. Older borrowers get a higher percentage: around 38% at 62, and 70% or more in the late 80s and 90s.
- Deductions. An upfront mortgage insurance premium of 2% of the Maximum Claim Amount, other closing costs, and any existing mortgage, which has to be paid off from the proceeds.
On a $400,000 home, for example, the upfront insurance premium alone is $8,000.
Costs that continue. Interest and an annual insurance premium of 0.5% of the loan balance are added to the loan every year, so the balance grows and your equity shrinks over time.
What you still have to do. You must live in the home as your main residence, pay property taxes and homeowner's insurance, and keep the home in repair. Falling behind on taxes or insurance can put the loan in default.
When the loan comes due. It is repaid when the last borrower dies, sells or moves out for 12 months or more, usually from the sale of the home. A HECM is a non-recourse loan: you or your heirs never owe more than the home is worth. Heirs can keep the home by paying off the loan.
Alternatives to compare first. Downsizing, a home equity loan or line of credit, property tax deferral, and benefits that lower monthly costs. A reverse mortgage can also affect Medicaid and SSI if you hold the proceeds as cash, so ask the counselor about that.
Counseling is required. Before you can apply, you must complete a session with a HUD-approved HECM counselor, who is independent of the lender and will give you exact figures. To find one, call HUD at 1-800-569-4287.
Frequently Asked Questions
How much money can I get from a reverse mortgage?
It depends on your age, your home's value, interest rates at the time and any existing mortgage balance. Older borrowers and lower interest rates allow access to a larger share of the home's value.
What is the 2026 HECM lending limit?
$1,249,125, the same nationwide. If your home is worth more, only the limit counts in the calculation.
What is the minimum age for a reverse mortgage?
62, for the youngest borrower or eligible non-borrowing spouse on a federally insured HECM.
Do I have to pay off my existing mortgage before getting a reverse mortgage?
You do not pay it off separately. Any existing mortgage balance is paid from your reverse mortgage proceeds at closing, which reduces what you receive.
Is HUD counseling required for a reverse mortgage?
Yes. A session with a HUD-approved HECM counselor is required before you can apply, whatever your finances.
What fees come with a reverse mortgage?
An upfront mortgage insurance premium of 2% of the Maximum Claim Amount, an ongoing annual premium, origination fees and closing costs. They reduce what you receive or are added to the loan balance.
This calculator gives a simplified estimate using approximate Principal Limit Factors. It does not use HUD's exact tables, which change with the expected interest rate, the appraisal and other factors. It is not financial advice. HUD requires counseling with a HUD-approved HECM counselor before you can apply, and the counselor will give you exact figures.