Accurately Determine Your Reverse Mortgage Amount with Our Calculator

A reverse mortgage is a financial product designed for seniors that converts home equity into accessible funds. Seniors aged 62 and above can retain ownership of their home while receiving cash for needs like home upgrades or medical expenses. It’s an effective way to unlock value built up over years of homeownership. Unlike standard loans, a reverse mortgage provides regular payments as long as the borrower follows the rules. To secure the best rates, using a reverse mortgage calculator is highly recommended.

While final figures vary based on lender terms, you can get an initial estimate using tools provided by organizations such as the National Reverse Mortgage Lenders Association.

The reverse mortgage calculator includes these key inputs:

Personal Information
To find the best rates for seniors, input essential details about yourself. Start with your ZIP code, since reverse mortgage rates vary regionally. You’ll also need to enter birth dates for all owners and co-owners, including any non-borrowing spouses. Your age is critical, as reverse mortgages are only available for homeowners over 62.

Property Value
The current market value of your home significantly influences the loan amount. Lenders evaluate this to ensure the loan is financially viable. Use a current estimate of your property's worth rather than the original purchase price.

Additional Fields (Optional)
For a more precise estimate, you may include information about existing liens, mortgage details, monthly mortgage payments, any planned home repairs, additional cash needs, or desired credit lines.

Utilize this reliable reverse mortgage calculator to get a clear estimate and find the most favorable rates tailored to your circumstances.