Reverse Mortgage Calculator
Estimate how much you could access through a HECM (Home Equity Conversion Mortgage) reverse mortgage, based on your age, home value, and existing mortgage balance. Your actual Principal Limit Factor depends on both age and HUD’s current expected interest rate published at the time you apply — this calculator uses published reference points, not the full HUD rate table, so treat it as a ballpark starting point.
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Glossary
An FHA-insured loan for homeowners 62+ that converts home equity into cash — a lump sum, line of credit, or monthly payments — with no monthly mortgage payment required. The loan is repaid when the last borrower sells, moves out permanently, or passes away.
A percentage set by HUD based on the youngest borrower’s age and the “expected interest rate” at closing (a 10-year rate plus lender margin, not your accrual rate) that determines what share of your home’s value you can access. Older borrowers and lower expected rates both increase the factor.
HUD’s real Principal Limit Factor table has a row for every age 62-90+ and every expected interest rate, updated as rates move. This calculator uses published reference points at a representative rate rather than reproducing that full table, so your actual factor from a lender may differ.
Yes — HUD requires independent counseling from a HUD-approved agency before you can proceed with a HECM, specifically so you get your exact, current numbers from a neutral source before committing.