This reverse mortgage calculator gives homeowners 62 and older a rough HECM range, not a quote. Enter the youngest owner's age, your home value and your mortgage balance. It caps the value at the 2026 FHA limit of $1,249,125 (valid through Dec 31, 2026), applies an approximate age factor, and subtracts your mortgage, upfront mortgage insurance and assumed closing costs.
Reverse Mortgage (HECM) Estimator
Age factors are our rough approximation of HUD's principal limit factor table (case numbers on or after Oct 2, 2017) at expected rates of about 5% to 7.5%.
- Enter the youngest owner's age, your home value, and your mortgage balance.
- You get a rounded range. Real figures depend on interest rates on the day, your appraisal, and fees.
- The range already subtracts estimated upfront FHA mortgage insurance (2%) and typical closing costs.
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Get your free guideHow does this reverse mortgage calculator work?
We multiply your home value (capped at the 2026 FHA HECM limit of $1,249,125, valid through Dec 31, 2026) by a low and high approximate principal limit factor for your age. Then we subtract:
- Your existing mortgage balance, which has to be paid off with HECM proceeds or your own funds
- FHA's upfront mortgage insurance premium, which is 2% of the maximum claim amount (here, your home value up to the limit)
- Our assumption of $6,000–$12,000 for origination and third-party closing costs (an illustration, not a sourced figure). Your actual costs may be higher or lower.
Results are rounded down to the nearest $5,000 because the inputs are estimates too.
Curious about your own numbers? Rough range only, not a loan offer or pre-qualification. No sign-up, no credit check.
Try the estimate calculatorWhy does the calculator show a range?
HUD's principal limit factors change with the expected interest rate. A calculator that shows a precise number without today's rate is guessing. Our range is meant for a first conversation, not for planning a budget.
What will a lender look at?
- Age of the youngest borrower, and whether there is a non-borrowing spouse
- An FHA appraisal of the home
- Credit history and income, in a review called a financial assessment. This checks whether you can keep paying taxes and insurance.
- Your HUD counseling certificate (see counseling explained)
Next steps
If your range looks useful, read how proceeds are calculated and what it costs, then talk with a HUD-approved counselor. Only a licensed lender can give real figures, after counseling and an appraisal.
What do the three inputs mean?
Age, home value and mortgage balance are the three numbers that move a HECM estimate the most, and each one has a rule behind it.
- Age of the youngest owner. The youngest borrower must be 62 or older at closing (24 CFR 206.33). Use the age of the youngest person who will be on the loan.
- Home value. Use your best guess of what the home would sell for today. The lender will use an FHA appraisal, and HECM proceeds are based on value only up to the national limit.
- Mortgage balance. Include every loan or lien on the home, such as a mortgage or a HELOC. Existing liens must be paid off at closing (24 CFR 206.25(b)(8)), and any lien left in place must be subordinate to the HECM (24 CFR 206.27(b)(3)).
What can lower the amount a lender actually offers?
Set-asides and other payments due at closing come out of the same pool of money, so the amount you can draw can be smaller than a calculator shows.
- A Life Expectancy Set-Aside reserves money for property taxes and insurance, if the lender requires one or you choose one (24 CFR 206.19(f)(2); 24 CFR 206.205(b)).
- A repair set-aside holds 150 percent of HUD's estimated cost for repairs finished after closing (24 CFR 206.19(f)(1)).
- A servicing-fee set-aside applies if the loan charges a monthly servicing fee (24 CFR 206.19(f)(3)).
- Delinquent federal debt and property charges due in the first 12 months count as mandatory obligations at closing (24 CFR 206.25(b)(7) and (b)(12)).
Our estimator subtracts your mortgage, the 2% upfront mortgage insurance and an assumed range for closing costs. It does not subtract set-asides, so treat its range as a ceiling, not a promise.
How can you receive the money a calculator shows?
A HECM can pay out as monthly payments, a line of credit, a mix of the two, or, on fixed-rate loans only, a single lump sum.
Federal rules list the options (24 CFR 206.19): term payments (equal monthly payments for a set number of months), tenure payments (equal monthly payments for as long as the loan is in good standing), a line of credit you draw when you want, modified term or tenure (monthly payments plus a line of credit), and a single lump sum, which is available only on a fixed-rate HECM. When you ask for a line-of-credit draw in writing, the money must be sent within five business days (24 CFR 206.27(b)(1)).
Rules in this section checked against the current eCFR text on October 31, 2026.
See a rough estimate for your home
Our estimate calculator takes about 30 seconds. It shows a rough range for your home, not a loan offer or pre-qualification. No sign-up and no credit check.
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Frequently asked questions
How accurate is a reverse mortgage calculator?
Online calculators give rough ranges. Your actual principal limit depends on HUD's factor for the current expected interest rate, your appraisal, and your actual closing costs, all of which a lender confirms.
Does using the calculator affect my credit?
No. Our estimator runs in your browser, doesn't pull credit, and doesn't save anything unless you choose to submit the form.
Why does my age matter so much?
HUD's principal limit factors rise with the youngest borrower's age. Older borrowers can generally access a larger percentage of their home's value.
Who wrote this guide
This guide is written and maintained by the Clear Reverse editorial team from the primary sources listed below. The "Last updated" date at the top shows when it last changed. Clear Reverse is an education service, not a lender or mortgage broker, and nothing here is legal, tax or financial advice. Spotted an error? Email [email protected]. How we research and update our guides.
Sources
- HUD: HECM program page (maximum claim amount table) (lists the 2026 limit of $1,249,125, valid through Dec 31, 2026; accessed Oct 30, 2026)
- HUD Mortgagee Letter 2025-22 (2026 HECM limit) (dated Dec 11, 2025; limit applies to FHA case numbers assigned Jan 1 through Dec 31, 2026; accessed Oct 30, 2026)
- HUD Mortgagee Letter 2017-12 (2% initial and 0.50% annual mortgage insurance) (dated Aug 29, 2017; accessed Oct 30, 2026)
- CFPB: Reverse mortgages (consumer tools) (accessed Oct 30, 2026)
- 24 CFR 206.33 (age of borrower), eCFR (current text accessed Oct 31, 2026)
- 24 CFR 206.25 (first-year disbursement limits set by HUD notice), eCFR (current text accessed Oct 31, 2026)
- 24 CFR 206.27 (when the loan is due; non-recourse; tax deferral), eCFR (current text accessed Oct 31, 2026)
- 24 CFR 206.19 (payment plans), eCFR (current text accessed Oct 31, 2026)
- 24 CFR 206.205 (property charges and set-asides), eCFR (current text accessed Oct 31, 2026)
Program rules change, so confirm details with a HUD-approved counselor and a licensed lender.