Reverse mortgage estimate (age 62+)

See roughly how much a reverse mortgage (HECM) could provide, whether it could pay off your current mortgage, and what that could mean each month.

This is an approximate estimate only. It uses simplified versions of HUD's tables and typical costs. The real amount depends on today's rates, your exact ages, counseling, the appraisal and lender fees. Contact us for accurate figures; it's free and there's no obligation.

About you and your home

Age of the youngest borrower

Home value ($)

Mortgage still owed ($) 0 if paid off

A spouse under 62 can't be a borrower but may be protected as a non-borrowing spouse. Ask us.

Reverse mortgages explained Compare Extra Credit (HELOC)

What's next?

How reverse mortgages workRules, costs, pros and cons.Go →Other 62+ optionsDownsizing, HELOC and more.Go →Free home value reportYour value drives the estimate.Go →

Common questions

How much can I get from a reverse mortgage?

It depends mainly on the age of the youngest borrower, your home's value (up to the HUD limit) and current interest rates. Older borrowers and lower rates mean more money. Any existing mortgage is paid off first.

Do I still own my home?

Yes. You keep the title and can live in the home for life, as long as you pay property taxes, homeowners insurance and upkeep, and the home stays your main residence.

Will my children inherit the home?

Yes, they can. When the last borrower leaves the home or passes away, heirs can sell it, pay off the loan or keep the home by repaying the loan. They never owe more than the home is worth (it's a non-recourse loan).

How can I take the money?

As a line of credit, monthly payments, a lump sum, or a mix. An unused line of credit grows over time. There are limits on how much you can take in the first year.

Rough educational estimate using simplified principal limit factors and typical costs; not a loan offer. HECM loans require HUD-approved counseling. The 2026 HUD maximum claim amount is $1,249,125. Borrowers must keep paying property taxes, insurance and maintenance. Bill McElhill, NMLS #2176490.

Reverse mortgage estimate (age 62+)

About you and your home

What's next?

Common questions

Your next step

Get your accurate reverse mortgage figures