Free Instant Reverse Mortgage Calculator

Calculate Your Personalized Reverse Mortgage Now


No personal information required! 

Step One

To begin using the reverse mortgage calculator RMF needs these three variables to evaluate if you are eligible for a reverse mortgage loan:

Home Owner's Age

To qualify for a reverse mortgage, you must be over age 62 on the loan’s closing date. The older you are, the more funds are available to you.

Home Value

This is the amount that your home is worth. If you’re not sure, type in your best estimate. The worth of your house may affect the amount you may receive in funds on your reverse mortgage loan.

Mortgage Balance

This is the amount that you have left to repay in mortgages and liens on your home. The less money you owe, the more of your home’s equity is available for you to access.

Step Two

We look at property information to give you an estimated amount of what you may be eligible to receive.

The amount that is available generally depends on four factors: your age, the current interest rate, the appraised value of the home, and government-imposed lending limits.


The Power to Live Better

With an FHA-insured* reverse mortgage, you can turn part of the equity you’ve built up in your home into funds you can use today, or a line of credit that will be there when you need it. It offers all the benefits of a traditional home equity loan or home equity line of credit, but with more flexible repayment options. On a monthly basis, you can opt to pay interest only; principal and interest; or make no loan payment—you choose. 

As with any home-secured loan (or mortgage), you must meet your loan obligations, keep current with property taxes, insurance, and maintenance. 

And there’s no pre-defined loan maturity date. This gives you more freedom in managing your monthly expenses. Use the reverse mortgage loan calculator to determine an estimated amount you could receive in funds.

The power to live better

Common Uses of a Reverse Mortgage

Common uses of a reverse mortgage

You can receive your funds as a lump sum, line of credit, monthly advances, or any combination of these. Plus, you can change how you receive your remaining funds at any time if you need or want to. Borrowers who elect a fixed rate loan will receive a single disbursement lump sum payment. Other loan payment options are available only for adjustable rate mortgages. 

Use the reverse mortgage calculator to determine an estimate amount you could receive in funds. Advantages of obtaining a reverse mortgage loan include:

  • Establish a rainy day fund
  • Supplement your income
  • Refinance an existing mortgage or home equity loan
  • Pay off high interest rate credit cards
  • Be more financially prepared
  • Pay for healthcare
  • Cover the cost of in-home care, whether medical or non-medical
  • Make or pay off a major purchase
  • Make home improvements or modifications
  • Buy a home

Real-Life Example

Daniel and Noelle have a house worth $450,000 and they want to make some home improvements including adding new windows, installing central air and getting a new roof. They also want to add to their retirement fund. They take out a reverse mortgage and use $50,000 of the proceeds to pay for the renovations to their home.

They were able to make all the renovations they wanted to their home and also establish a line of credit with the remaining funds available to them. The unused line of credit grows over time1 and monthly principal and interest payments are optional. 10 years down the road, they decide to convert their line of credit into a steady stream of monthly funds. 

As with any mortgage, they must meet their loan obligations, keeping current with property taxes, insurance, and maintenance.

Real life example