Reverse Mortgage Estimator calculator

How much could a reverse mortgage provide?

A rough, educational estimate for homeowners 62 and older: an approximate principal limit and what may be left after paying off the current mortgage and closing costs. It is not an offer; counseling and an eligibility review come first.

01Borrower & home

Age of the youngest borrower

yrs

Borrowers must be at least 62. An eligible non-borrowing spouse’s age can also count, so ask.

Home value

Existing mortgage balance (to be paid off)

Any current mortgage or lien must be paid off from the reverse mortgage or at closing.

02Rate & costs

Expected interest rate

For adjustable loans this is the 10-year index + the lender’s margin. Ask for a current figure.

Other closing costs (title, appraisal, etc.)

Reverse Mortgage Estimator

Estimated principal limit (range)

$180,000 – $202,100

Middle estimate $191,050 at about 38.2% of the home value

Educational estimate only, not an offer or approval. Real amounts come from HUD’s full factor table, a current rate, an appraisal and an eligibility review, and every borrower must complete counseling with an independent HUD-approved counselor first. Call or text Austin to go over your situation.

Net available after payoff & costs$80,000 – $102,100Middle estimate $91,050

Approx. available in the first 12 months$19,105First-year draws are usually limited to about 60% of the limit

Home value used$500,000Lower of value or the 2026 FHA limit

Existing mortgage payoff$80,000

Estimated costs to close$20,000$10,000 upfront MIP + up to $6,000 origination + $4,000 other

▦How age and rate move the estimate

Youngest borrower	Rate − 1%	Your rate	Rate + 1%
62	$191,750	$167,250	$146,000
67	$206,250	$182,125	$161,000
72	$220,750	$197,000	$176,000
77	$243,750	$221,250	$201,125
82	$266,750	$245,500	$226,250
87	$299,875	$281,500	$264,625

Approximate principal limits for this home value. Older borrowers and lower rates mean a larger limit.

±Trade-offs to weigh

Reverse mortgage

No required monthly mortgage payment
Can pay off an existing mortgage and free up cash flow
Non-recourse: when the home is sold, you or your heirs generally won’t owe more than it’s worth

Other options

A HELOC, refinance or selling and downsizing keeps more equity
Upfront costs are usually lower
Loan balance doesn’t grow the same way

Neither option is right for everyone. It depends on your timeline, cash and comfort with risk.

ƒHow this is calculated

Principal limit ≈ home value (capped at the 2026 FHA lending limit of $1,249,125) × a principal limit factor for the youngest borrower’s age and the expected rate.
The factor here is an approximation built from sample points of HUD’s published factor table, filled in between. The range shows the estimate at your rate ± 0.5%.
Estimated costs: upfront mortgage insurance of 2% of the home value used, origination at the federal cap (greater of $2,500 or 2% of the first $200,000 + 1% above, max $6,000) and the other costs you enter. Lenders may charge less origination.
Net available = principal limit − existing mortgage payoff − costs. No monthly mortgage payment is required, but you must keep paying property taxes, insurance and upkeep and live in the home as your primary residence. The balance grows over time and is usually repaid when the home is sold.

Estimates for illustration only. This is not a loan offer, rate quote, or commitment to lend. Results come only from the numbers entered above. Interest rates are examples you supply, not advertised rates, so check current rates before deciding. Fee schedules and limits shown are published figures that can change.

This calculator is being provided for educational purposes only. The results are estimates based on information you provided and may not reflect CrossCountry Mortgage, LLC product terms. The information cannot be used by CrossCountry Mortgage, LLC to determine a customer’s eligibility for a specific product or service.

Austin Gerimonte, NMLS #2277430 · CrossCountry Mortgage, LLC NMLS #3029 · Equal Housing Lender · NMLSConsumerAccess.org