Illustrative HECM reverse mortgage calculators for payoff, retirement income, a growing line of credit, and Social Security timing. The 2 Mortgage Guys at Luminate Bank.
Reverse mortgage calculators
Reverse mortgage calculators for multiple real-life scenarios. Start with age, home value, payoff, and an expected rate — those numbers carry into every option below.
See if a reverse mortgage may help your retirement. This is an illustration, not a loan offer.
A HECM requires the youngest borrower to be at least 62. The estimate below uses age 62 until the age you enter is 62 or older.
Quick estimate overview
Estimated principal limit
Appraisal, title, recording, and counseling costs also reduce cash and are not subtracted above.
Calculator assumptions for the numbers in Start Here. HUD publishes official principal limit factor tables monthly. This page uses a simplified formula for illustration only.
Estimated rate used: The expected interest rate is set to . You can adjust this slider in Start Here. A higher expected rate reduces the principal limit factor and the proceeds. A lower rate increases them.
Age assumption: Calculations use the age of the youngest borrower ( in this estimate ). HECM proceeds increase with age because the principal limit factor rises as life expectancy decreases. If there are multiple borrowers, the youngest person's age determines the calculation.
FHA lending limit assumption: The 2026 FHA HECM maximum claim amount is $1,249,125. If your home value exceeds this limit, calculations are capped at the FHA limit — not your full appraised value. This is a HUD rule, not a lender choice.
Approximate PL factor logic: The principal limit factor is estimated with an age-based factor from about 38% at age 62 to about 72% at age 90, then a rate adjustment that gets smaller as the expected rate rises above 4%. Your actual factor will be the current HUD table at application.
Click any option and stay on this page. Numbers from Start Here carry over automatically.
The payoff in Start Here is already included. Add the monthly principal-and-interest payment you pay the lender now if you want to see that payment next to the illustration.
This compares a monthly amount you choose with a term-style draw that would use the proceeds left after payoff, initial MIP, and the illustrative origination fee.
Unused HECM line-of-credit capacity grows at the expected rate plus the annual mortgage insurance premium, currently 0.50% in this illustration. That growth is not interest you earn. It is an increase in available borrowing capacity.
This is the age of the person whose Social Security benefit is being looked at. It can differ from the HECM age in Start Here. The increase you enter is your assumption — not a Social Security Administration calculation.
A reverse mortgage does not remove property taxes, homeowners insurance, HOA dues, or the need to maintain the home. The monthly figure above is only the mortgage payment you typed in.
Illustrative payment over
/mo
This is not an official HUD tenure or term payment. Interest accrual, first-year disbursement limits, set-asides, and third-party costs change the amount you could actually receive.
Unused line in this illustration
Growth here compounds monthly at plus 0.50% annual mortgage insurance. It increases what you may borrow later. It is not earnings, and it is not guaranteed.
Benefit after at your assumption
Reverse mortgage proceeds are not treated as taxable income and do not, by themselves, reduce Social Security or Medicare. Needs-based programs such as Medicaid or SSI can be affected. Talk with a benefits advisor before you rely on a delay strategy.
Reverse mortgages are federally regulated, FHA-insured loans with built-in consumer protections. These are the facts behind the calculator.
We have received your information.
We will be in touch soon to discuss how a reverse mortgage could work for your situation.
No obligation. No pressure. Just answers. We will use the illustration on this page when we follow up.
Illustrative estimate only. HUD states HECM proceeds depend on age, the current interest rate, and the lesser of appraised value, the FHA HECM limit, or sales price. This calculator uses the 2026 HECM maximum claim amount of $1,249,125. Results are estimates for education and are not a loan offer, rate lock, or commitment to lend. You must keep paying property taxes, homeowners insurance, and HOA dues if they apply, and you must maintain the home. Borrowers may remain in the home while those obligations are met. All loans are subject to credit, property, and program approval.
Read the reverse mortgage guides