Reverse Mortgage Calculator
Estimate how much you could receive from a 2026 HECM reverse mortgage based on your age and home value.
A HECM reverse mortgage typically lets you access somewhere between about 38% (age 62) and 72% (age 90+) of your home's value, up to a 2026 lending limit of $1,249,125, minus upfront costs and any existing mortgage balance. This tool gives a simplified estimate — your exact figure depends on current interest rates and requires mandatory HUD counseling.
A reverse mortgage lets homeowners 62 and older convert home equity into cash without monthly mortgage payments. How much you can access depends mainly on your age and home value. Enter your details below for a rough estimate, understanding that the real number depends on interest rates at the time you actually apply.
Estimate Your Reverse Mortgage Proceeds
Your Simplified HECM Estimate
Your Maximum Claim Amount was capped at the 2026 nationwide HECM lending limit of $1,249,125, since your home's value exceeds it.
This is a simplified estimate
Your actual amount depends on the specific expected interest rate at application, which changes daily, and requires a full appraisal. HUD requires independent counseling with a HUD-approved HECM counselor before you can apply — this is mandatory, not optional, and is your best source for exact numbers.
Additional costs — origination fees, servicing fees, closing costs, and an ongoing annual MIP of 0.5% of the loan balance — further reduce funds actually received or accrue against the loan balance over time, and are not included in this simplified estimate.
The amount available through a HECM reverse mortgage starts with your Maximum Claim Amount, the lesser of your home's value or the federal lending limit, $1,249,125 in 2026. From there, a Principal Limit Factor determines what percentage of that value you can actually access. Age is the biggest driver: older borrowers get a higher percentage, since the loan is expected to run for fewer years. A 62-year-old might access somewhere around 38% of their home's value, while someone in their late 80s or 90s might access 70% or more. The exact factor also depends on the expected interest rate at the time of application, which changes regularly, so real figures will differ from this simplified estimate. Before you receive any funds, an upfront mortgage insurance premium (2% of the Maximum Claim Amount) is deducted, along with any existing mortgage balance you still owe, since that has to be paid off from the proceeds. Ongoing costs, including an annual insurance premium and various fees, continue to affect your loan balance over time. HUD requires independent counseling before you can apply, which is where you'll get your exact numbers.
Frequently Asked Questions
How much money can I get from a reverse mortgage?
It depends on your age, home value, current interest rates, and any existing mortgage balance. Older borrowers and lower interest rates generally allow access to a larger percentage of home value.
What is the 2026 HECM lending limit?
$1,249,125, applied uniformly nationwide. If your home is worth more than that, only the limit amount counts toward your reverse mortgage calculation.
What is the minimum age for a reverse mortgage?
62, for the youngest borrower or eligible non-borrowing spouse on a federally-insured HECM.
Do I have to pay off my existing mortgage before getting a reverse mortgage?
You don't pay it off separately, but any existing mortgage balance is deducted from your reverse mortgage proceeds at closing.
Is HUD counseling required for a reverse mortgage?
Yes. Independent counseling with a HUD-approved HECM counselor is mandatory before you can apply, regardless of your financial situation.
What fees come with a reverse mortgage?
An upfront mortgage insurance premium (2% of the Maximum Claim Amount), an ongoing annual premium, origination fees, and closing costs, all of which reduce your net proceeds or add to your loan balance over time.
This calculator provides a simplified estimate using approximate Principal Limit Factors and does not reflect the exact HUD tables, which vary with the expected interest rate at application, current appraisal, and other factors. It does not constitute financial advice. HUD requires mandatory counseling with a HUD-approved HECM counselor before you can apply, which will provide your exact figures.