Calculators · Reverse Mortgage
Do you qualify for a reverse mortgage?
Check the youngest borrower's age against HUD's rule and see how much of your home's value the HECM formula can reach in 2026. Runs entirely in your browser.
How does a reverse mortgage calculator work?
A reverse mortgage calculator applies HUD's published Home Equity Conversion Mortgage (HECM) rules to your situation. Two rules do most of the work: the youngest borrower must be at least 62 at closing, and for 2026 HUD caps the home value the formula can be applied against at $1,249,125 nationwide. Your existing mortgage balance is then paid off first from the proceeds. What a calculator cannot honestly tell you is the dollar amount you would receive — HUD's formula also depends on the expected interest rate at the time, which changes, so any firm payout figure shown before a licensed loan officer prices your file is an estimate presented as a fact.
Reverse Mortgage (HECM) Calculator
Check the age rule and see how much of your home’s value HUD’s formula can be applied against.
Your existing loan gets paid off first. A reverse mortgage has to retire the $150,000 still owed on the home before any money is available to you. That payoff is usually the single biggest factor in what’s left over — which is why two neighbors with identical homes can end up in completely different places.
Meets the HECM age requirement. HUD requires the youngest borrower to be at least 62 at closing, and this age clears that floor. Age is only one test — HUD also requires a financial assessment and a certificate from an independent HUD-approved counselor before any lender can take a full application.
This runs entirely in your browser — nothing you enter is sent, saved, or shared anywhere. It shows HUD’s published age rule and lending ceiling only. It deliberately does not estimate how much money you would receive: HUD’s formula depends on the youngest borrower’s age, the home’s value, and the expected interest rate at the time, so no honest single figure exists in advance. This is not a pre-qualification, an approval, an offer, or a commitment to lend.
The three numbers that actually decide a reverse mortgage.
A reverse mortgage — formally a Home Equity Conversion Mortgage, or HECM — lets homeowners aged 62 and older convert part of their home equity into cash while keeping the title and continuing to live in the home. Unlike a home equity line of credit, it requires no monthly principal and interest payment; the balance grows over time and comes due when the last borrower permanently leaves the home.
Age comes first. HUD requires the youngest borrower to be at least 62 at closing, per Handbook 4000.1, and there is no exception. If one spouse is younger, they may still be protected as an eligible non-borrowing spouse — a detail that genuinely matters and is worth getting right in writing before anyone signs. Private lenders do offer proprietary reverse mortgages starting around age 55, but those are not HECMs: different underwriting, and none of the FHA insurance protections.
Then the ceiling. For 2026, HUD set the HECM maximum claim amount at $1,249,125 (Mortgagee Letter 2025-22), applying nationwide. If a home is worth more than that, the excess simply isn’t reachable by the formula — which is why owners of higher-value homes, including plenty in Orange County, sometimes look at proprietary products instead. Note what this figure is not: it is a cap on the value the formula applies to, never an amount anyone receives.
Then what you still owe. A reverse mortgage has to pay off any existing loan on the home before a dollar reaches you. That payoff is usually the biggest single factor in the outcome, and it is why two neighbors with identical homes can land in completely different places. If you are weighing this against other ways to use equity, our reverse mortgage vs. HELOC comparison lays the two side by side, and what happens to your heirs answers the question families ask most.
One more requirement that is not optional: every HECM borrower must complete counseling with an independent HUD-approved counselor before a lender may take a full application. The counselor has no financial stake in your decision. Treat that session as the real due diligence, not a formality — and bring the questions this page raised. If you want to know where you stand first, how to qualify for a reverse mortgage walks through HUD’s financial assessment in detail.
Reverse mortgage calculator questions, answered.
What is a reverse mortgage calculator?
A reverse mortgage calculator checks a homeowner's situation against HUD's published rules for a Home Equity Conversion Mortgage (HECM) — the age of the youngest borrower, the value of the home, and what is still owed on it. This one runs entirely in your browser and shows how much of your home's value HUD's formula can be applied against for 2026. Nothing you type is sent anywhere.
Why doesn't this calculator tell me how much money I would get?
Because no honest calculator can. HUD's formula depends on the youngest borrower's age, the home's value, and the expected interest rate at the time the loan is made — and rates move. Any tool that shows you a firm payout figure is showing you a guess dressed up as a number. What we can show you is exactly what HUD's published rules determine: whether the age requirement is met and how much of the home's value the formula reaches. For a real figure, a licensed loan officer has to price your actual file.
How old do you have to be for a reverse mortgage?
For an FHA-insured HECM, the youngest borrower must be at least 62 years old at closing. That requirement comes from HUD's Single Family Housing Policy Handbook 4000.1 and has no exceptions. Some private lenders offer proprietary reverse mortgages starting around age 55, but those are separate non-HUD products with their own underwriting rules and none of the FHA insurance protections.
What is the reverse mortgage limit for 2026?
$1,249,125. That is the FHA-insured HECM maximum claim amount for all case numbers assigned between January 1 and December 31, 2026, and it applies nationwide including Alaska, Hawaii, Guam, and the U.S. Virgin Islands. It is a 3.26% increase over the 2025 figure of $1,209,750 and equals 150% of the 2026 Freddie Mac national conforming baseline of $832,750. (Worth separating: Orange County's own high-cost conforming ceiling happens to be this same $1,249,125 figure, but that is a different limit for a different kind of loan.) Important: it is a ceiling on the value the formula can be applied against, not an amount anyone receives.
Do I still have to pay off my current mortgage?
Yes. A reverse mortgage must pay off any existing loan against the home first, before any money is available to you. This is usually the single biggest factor in what is left over, and it is why two neighbors with identically valued homes can end up with very different results. A home that is owned free and clear starts from a completely different place than one with a large balance.
Is HUD counseling really required?
Yes, and it is not a formality. Every HECM borrower must complete counseling with an independent HUD-approved counselor who has no financial stake in whether you proceed, and no lender may take a full application without a valid counseling certificate. The session covers eligibility, how the loan works, the costs, your ongoing obligations, and the alternatives. As of 2025 reporting, roughly 98% of these sessions were held by phone or video.
Can I lose my home with a reverse mortgage?
You keep the title, but the loan can become due if you stop meeting your obligations — living in the home as your primary residence and keeping up with property taxes, homeowners insurance, and any HOA dues. This is why HUD requires a financial assessment before approval: it exists to check that these ongoing costs are realistic for you. Failing to pay property taxes or insurance is one of the most common causes of trouble on these loans.
Is my information saved when I use this calculator?
No. Every number you enter stays in your browser and is used only to compute what appears on screen. Nothing is transmitted, logged, or stored — close the tab and it is gone.
Is this a loan offer or approval?
No. This tool shows HUD's published rules applied to numbers you provide. It is not a pre-qualification, an approval, or a commitment to lend, and it does not include or imply any interest rate. Actual eligibility depends on your full file, HUD's financial assessment, and completed counseling.
Want the real number for your home?
HUD's formula needs your age, your home's value, and today's expected rate — owner Esther Buede (NMLS #2003644) can price it properly and tell you honestly whether it's the right move.