What is a reverse mortgage?

A reverse mortgage is a loan for homeowners 62+. Instead of making monthly payments, the lender pays you — monthly, as a lump sum, or as a line of credit. The loan is repaid when you sell, move out, or pass away.

How much can I borrow with a reverse mortgage?

The amount depends on home value, borrower age, and interest rates. Generally, older borrowers with higher-value homes can access more equity — typically 40-60% of home value.

What are the risks of a reverse mortgage?

Interest compounds and the loan balance grows over time, potentially consuming all home equity. You must still pay property taxes, insurance, and maintenance. It may reduce inheritance for your heirs.

Reverse Mortgage Calculator - Home Equity

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Free

Turn home equity into retirement income — estimate how much cash you can access.

Enter Your Data

🏡 Home Value ($)

Current market value

👤 Youngest Borrower Age

Must be 62+

📊 Interest Rate (%)

Reverse mortgage interest rate

🏦 Existing Mortgage ($)

Must be paid off first

💰 Max Loan Amount

After existing mortgage

📅 Monthly Income (Lifetime)
-
Lifetime monthly payment

💵 Lump Sum

After fees

📘 About Reverse Mortgages

A reverse mortgage allows homeowners 62+ to convert home equity into cash without monthly payments. The loan is repaid when you sell, move out, or pass away.

Key Factors

Age: Older borrowers can access a higher percentage of equity
Home Value: Higher value = more available equity
Interest Rate: Affects loan balance growth and borrowing limit

Important Considerations

You must still pay property taxes and insurance
Loan balance grows with compound interest
May reduce inheritance for your heirs

🏠 Reverse Mortgage Calculator

Enter Your Data

📋 5-Year Loan Balance Projection

📘 About Reverse Mortgages

Key Factors

Important Considerations

Enter Your Data

📋 5-Year Loan Balance Projection

📘 About Reverse Mortgages

Key Factors

Important Considerations

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