Free Reverse Mortgage Calculator (2026) — No Personal Info
Estimate your FHA HECM principal limit, lump sum, line of credit, and monthly-for-life payment in about 30 seconds. No name, email, phone, or address required. Same HUD math the lender calculators use — just without the sales call afterward.
Must be 62 or older to qualify for a HECM reverse mortgage
Enter 0 if your home is paid off
Your Reverse Mortgage Estimate
⚠️ Not Eligible
View Closing Cost Breakdown
Important Things to Know
- You keep your home. You retain title and ownership. The loan is repaid when you sell, move out, or pass away.
- You can never owe more than your home is worth (non-recourse protection on HECM loans).
- You must continue paying property taxes, homeowners insurance, and home maintenance.
- Interest accumulates on the loan balance over time, reducing the equity left in your home.
- HUD counseling is required before you can apply. A HUD-approved counselor will review your finances for free or low cost.
Read our full reverse mortgage guide → for detailed pros, cons, and real examples.
What Is a Reverse Mortgage?
A reverse mortgage lets homeowners 62 and older turn part of their home equity into cash — without selling the home or making monthly payments. Instead of you paying the bank, the bank pays you.
How is this different from a home equity loan?
With a home equity loan, you make monthly payments. With a reverse mortgage, there are no monthly payments. The loan is repaid when you sell the home, move out permanently, or pass away. Your heirs can sell the home to repay the loan, or refinance to keep it.
Who is this for?
- Homeowners 62 or older with significant home equity
- Retirees who need extra income but want to stay in their home
- People who want to delay Social Security to maximize benefits
- Anyone exploring options — this calculator helps you understand the numbers before talking to a lender
How This Compares to AARP, LendingTree, and Lender Calculators
Searches for "AARP reverse mortgage calculator" and "free reverse mortgage calculator AARP" are common, but AARP does not host its own HECM calculator. The AARP-branded reverse mortgage materials usually redirect to American Advisors Group (AAG), a major HECM lender. The same goes for searches that mention LendingTree, Mutual of Omaha, or Finance of America: those are lender calculators, and they all ask for your name, phone, and email before showing you a number.
This calculator uses the same underlying HUD principal limit factor (PLF) table the lender calculators use, at the post-2017 HECM expected rate of roughly 6.5%. The math is the math — what differs is that we don't pass your information to a lender afterward.
What's covered
- Standard FHA HECM — the federally insured product that makes up roughly 95% of the U.S. reverse mortgage market.
- 2026 FHA HECM lending limit: $1,209,750. Home value above the cap doesn't increase your principal limit on a standard HECM.
- Five disbursement options: lump sum, line of credit, monthly tenure (for life), monthly term (10 years), and combinations.
- Closing cost estimate — FHA upfront mortgage insurance premium (2% of home value, capped), origination fee (HUD-regulated), and typical third-party fees.
What's not covered
- Jumbo / proprietary reverse mortgages for homes worth more than the FHA cap follow different lender-specific formulas. Use this calculator for the HECM baseline, then ask jumbo lenders for individualized quotes.
- State and county variations in recording fees, doc-stamp tax, or HECM Saver-style products with reduced upfront costs.
- Your exact interest rate. The PLF table varies with the expected rate, and the rate at application time will differ from today's. Treat the output as a realistic ballpark, not a quote.
A Worked Example: The Closing Cost Iceberg
The hardest part of a HECM to budget for isn't the principal limit — it's how much of that principal disappears into closing costs before you ever see a dollar. Here's what a typical FHA HECM closing looks like for a 72-year-old with a $400,000 paid-off home and a 6.5% expected rate.
| Line Item | Amount |
|---|---|
| Gross principal limit (PLF ~0.341 × $400,000) | $136,400 |
| Less: FHA upfront mortgage insurance premium (2% of home value) | −$8,000 |
| Less: Origination fee (HUD-regulated, ~2% of first $200k + 1% above) | −$6,000 |
| Less: Appraisal, title, recording, third-party fees (typical) | −$3,500 |
| Less: HUD counseling fee (often $125–$200) | −$175 |
| Net available at closing | $118,725 |
That's the iceberg under the waterline: roughly $17,675 (13% of the principal limit) in closing costs, most of which most borrowers choose to roll into the loan rather than pay in cash. Once rolled in, that $17,675 begins compounding at the loan rate alongside every dollar you actually draw.
The other thing the calculator can't show on its own: 0.5% per year mortgage insurance premium accrues on the running balance for as long as the loan is outstanding. On a $200,000 balance, that's $1,000 a year added to the loan you'll eventually repay — whether or not you draw another dollar.
Reverse Mortgage Estimate by Age and Home Value
A reference table at common age and home-value combinations. Each cell shows the gross principal limit (the most HUD will let the lender give you against your home) and, below it in smaller text, the approximate net available at closing after subtracting the typical closing costs from the worked example above. All numbers assume a 6.5% expected rate, a paid-off home, and FHA HECM rules. Cells above the 2026 FHA cap of $1,209,750 use the cap rather than the higher home value.
| Age (Youngest Borrower) | $200,000 Home | $300,000 | $400,000 | $500,000 | $600,000 | $800,000 | $1,000,000 | $1,209,750 (FHA Cap) |
|---|---|---|---|---|---|---|---|---|
| 62 | $54,400 net ~$42,725 | $81,600 net ~$66,925 | $108,800 net ~$91,125 | $136,000 net ~$116,325 | $163,200 net ~$141,525 | $217,600 net ~$191,925 | $272,000 net ~$242,325 | $329,052 net ~$295,182 |
| 65 | $58,200 net ~$46,525 | $87,300 net ~$72,625 | $116,400 net ~$98,725 | $145,500 net ~$125,825 | $174,600 net ~$152,925 | $232,800 net ~$207,125 | $291,000 net ~$261,325 | $352,037 net ~$318,167 |
| 68 | $62,200 net ~$50,525 | $93,300 net ~$78,625 | $124,400 net ~$106,725 | $155,500 net ~$135,825 | $186,600 net ~$164,925 | $248,800 net ~$223,125 | $311,000 net ~$281,325 | $376,232 net ~$342,362 |
| 70 | $65,200 net ~$53,525 | $97,800 net ~$83,125 | $130,400 net ~$112,725 | $163,000 net ~$143,325 | $195,600 net ~$173,925 | $260,800 net ~$235,125 | $326,000 net ~$296,325 | $394,378 net ~$360,508 |
| 72 | $68,200 net ~$56,525 | $102,300 net ~$87,625 | $136,400 net ~$118,725 | $170,500 net ~$150,825 | $204,600 net ~$182,925 | $272,800 net ~$247,125 | $341,000 net ~$311,325 | $412,525 net ~$378,655 |
| 75 | $73,400 net ~$61,725 | $110,100 net ~$95,425 | $146,800 net ~$129,125 | $183,500 net ~$163,825 | $220,200 net ~$198,525 | $293,600 net ~$267,925 | $367,000 net ~$337,325 | $443,978 net ~$410,108 |
| 78 | $79,200 net ~$67,525 | $118,800 net ~$104,125 | $158,400 net ~$140,725 | $198,000 net ~$178,325 | $237,600 net ~$215,925 | $316,800 net ~$291,125 | $396,000 net ~$366,325 | $479,062 net ~$445,192 |
| 80 | $83,400 net ~$71,725 | $125,100 net ~$110,425 | $166,800 net ~$149,125 | $208,500 net ~$188,825 | $250,200 net ~$228,525 | $333,600 net ~$307,925 | $417,000 net ~$387,325 | $504,466 net ~$470,596 |
| 85 | $95,400 net ~$83,725 | $143,100 net ~$128,425 | $190,800 net ~$173,125 | $238,500 net ~$218,825 | $286,200 net ~$264,525 | $381,600 net ~$355,925 | $477,000 net ~$447,325 | $577,051 net ~$543,181 |
| 90 | $109,400 net ~$97,725 | $164,100 net ~$149,425 | $218,800 net ~$201,125 | $273,500 net ~$253,825 | $328,200 net ~$306,525 | $437,600 net ~$411,925 | $547,000 net ~$517,325 | $661,733 net ~$627,863 |
How to read it: A 72-year-old with a $400,000 paid-off home has a gross principal limit of about $136,400, of which roughly $118,725 is available at closing after typical FHA upfront MIP (2% of home value), HUD-regulated origination fees, third-party costs, and counseling. Older borrowers get a larger fraction; younger borrowers get less. Existing mortgage balances must be paid off from the principal limit at closing — subtract any remaining mortgage from the net column to estimate cash in hand.
Rate assumption: these numbers use a 6.5% expected rate, which is HUD's approximate post-2017 benchmark. A higher rate environment compresses the PLF (fewer cents on the dollar); a lower rate expands it. Use the calculator above for live recalculation against your specific numbers.
Where to Get Free or Low-Cost HUD Counseling
HUD requires every reverse mortgage borrower to complete a counseling session with a HUD-approved housing counselor before applying. The session typically runs about an hour, by phone or in person, and costs $125 to $200 — or is free for lower-income borrowers. A good counselor will run side-by-side projections of the HECM cost against alternatives like a HELOC, downsizing, or a state property-tax deferral program.
- HUD Housing Counseling Locator: hud.gov/findacounselor — searchable by ZIP code for any HUD-approved agency, including HECM-certified counselors.
- HUD Housing Counseling Service Line: 1-800-569-4287 — speak to a live person who can refer you to a counselor in your area.
- National Council on Aging: ncoa.org — the NCOA maintains additional senior-specific HECM counseling resources and a benefits eligibility checker that often surfaces alternatives to a reverse mortgage.
- Consumer Financial Protection Bureau: consumerfinance.gov — the CFPB's reverse mortgage discussion guide is plain-English and includes the specific questions counselors are trained to answer.
Go into counseling with three questions ready: (1) what's the loan balance projected at year 10 and year 20, (2) what does my spouse or partner inherit if I die first, and (3) what alternatives would let me stay in the home without compounding interest against the estate.
Does the FHA HECM Limit Vary by State?
No. The FHA HECM lending limit is set nationwide, not by county or state. For 2026 the cap is $1,209,750 across all 50 states, the District of Columbia, Puerto Rico, Guam, and the U.S. Virgin Islands. This differs from FHA forward mortgages, which do have county-specific limits. If you've seen a "California reverse mortgage calculator" or "Texas reverse mortgage calculator" specifically, the only state-level differences are recording fees, doc-stamp tax (Florida is the most notable), and which property types qualify (condominiums must be on the FHA-approved list, manufactured homes have extra requirements). The principal limit math itself is identical from Maine to Hawaii.
For homes worth more than $1,209,750, jumbo or proprietary reverse mortgages from private lenders may extend further, with state-specific availability and pricing.
Frequently Asked Questions
Is this reverse mortgage calculator really free?
Yes. No fees, no signup, no email required. We don't sell leads to lenders. The calculator runs entirely in your browser — nothing you type leaves your computer.
Do I need to give my personal information?
No. You only enter three numbers: your age, your home value, and your current mortgage balance. We don't ask for your name, email, phone, address, or Social Security number. Most lender calculators require all of those before showing a result — this one doesn't.
How accurate is this estimate?
It's a good ballpark. The calculator uses HUD's published Principal Limit Factor table at an approximate 6.5% expected rate, plus typical FHA mortgage insurance, origination, and third-party closing costs. Your actual loan amount depends on the rate at the time you apply, your specific lender, and your property type. Use this number to decide if a reverse mortgage is worth exploring — then get formal quotes from multiple HUD-approved lenders.
How old do I have to be to qualify?
The youngest borrower on the title must be at least 62 years old to qualify for an FHA-insured Home Equity Conversion Mortgage (HECM), the most common type of reverse mortgage. Older borrowers qualify for a higher percentage of their home value.
What if my home is worth more than the FHA limit?
The 2026 FHA HECM limit is $1,209,750. Home value above that doesn't increase your principal limit on a standard HECM. If your home is worth substantially more, ask lenders about a jumbo or proprietary reverse mortgage, which uses different rules and rates.
What's the difference between a HECM and a proprietary reverse mortgage?
A HECM is FHA-insured, has a federal lending cap, and includes non-recourse protection (you can never owe more than the home is worth). Proprietary reverse mortgages are private products, often used for higher-value homes or younger borrowers (some allow age 55+). Rules, fees, and protections vary by lender.
What happens to my heirs?
When you pass away or move out permanently, the loan becomes due. Your heirs have several options: sell the home and keep any remaining equity, refinance the loan to keep the property, or walk away with no obligation (HECM is non-recourse). They typically have up to 12 months to decide, with extensions possible.
Can I lose my home with a reverse mortgage?
Yes, in three scenarios: you stop paying property taxes or homeowners insurance, you fail to maintain the home, or you no longer use it as your primary residence (move out for more than 12 consecutive months, including extended care). HUD counseling, which is required before applying, walks through every one of these in detail.
Should I get a reverse mortgage?
It depends on your goals. Reverse mortgages can be useful for delaying Social Security, covering medical costs, or aging in place. They're often a poor fit if you plan to move within a few years (closing costs are high) or if your heirs strongly want to inherit the home debt-free. Read our full reverse mortgage guide for honest pros and cons before deciding.
Is this like the AARP reverse mortgage calculator?
AARP doesn't run its own HECM calculator. Searches for "AARP reverse mortgage calculator" usually redirect to American Advisors Group (AAG), the lender AARP has partnered with in the past. This calculator uses the same underlying HUD principal limit factor table that AAG and every other HECM lender uses — it just doesn't capture your name and phone number to hand off to a sales team.
How does this compare to LendingTree, Mutual of Omaha, or Finance of America calculators?
Those are lender or lead-generation calculators. They all use the same HUD PLF math the FHA mandates for HECMs, so the principal limit numbers will be close to identical. The main differences are: (1) lender sites require your personal information before showing results, (2) the result is bundled with a sales call, and (3) some lender calculators add their proprietary jumbo products into the output. Use this calculator first to know the baseline number, then collect quotes from at least two lenders so you can compare origination fees and margins.
Does this work as a HECM calculator?
Yes. The Home Equity Conversion Mortgage (HECM) is the standard FHA-insured reverse mortgage, and it's the product this calculator estimates. About 95% of all reverse mortgages in the U.S. are HECMs. If you've seen this product called a "HECM loan," "FHA reverse mortgage," "HUD reverse mortgage," or just "reverse mortgage," they all refer to the same thing.
Can I use this for a jumbo or proprietary reverse mortgage?
Not directly. Jumbo and proprietary reverse mortgages are private products offered by individual lenders for homes worth more than the FHA HECM lending limit ($1,209,750 in 2026). Each lender uses its own principal limit formula, age table, and rate structure. Use this calculator as a starting point to see what an FHA HECM would produce against the cap, then request individualized quotes from jumbo lenders if your home is worth substantially more.
How are monthly reverse mortgage payments calculated?
This calculator shows two monthly payment options. Monthly for Life (tenure) is calculated using a HUD formula that assumes you live in the home indefinitely — the payment is the principal limit divided by an actuarial factor based on your age and the expected rate. Monthly for 10 Years (term) divides the available principal across 120 months at the loan rate, producing a higher monthly amount that stops after the term ends. Neither requires you to make any payment back to the lender — the lender pays you.
How is the line-of-credit growth calculated?
The unused portion of a HECM line of credit grows at the same rate as the loan's interest plus the annual mortgage insurance premium. If you open a $200,000 line of credit at age 65 and don't touch it, by age 75 the available credit will be significantly larger than $200,000 — this is one of the few reasons HECMs make sense as a planning tool rather than a last-resort cash source. This calculator shows the starting line-of-credit amount; growth depends on the rate environment over time.
Disclaimer: This calculator provides rough estimates based on approximate principal limit factors and average interest rates. Actual loan amounts depend on current interest rates, your specific lender, property type, and other factors determined during the application process. This is not a loan offer. Consult a HUD-approved housing counselor and multiple lenders before making any decisions.