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Reverse Mortgage Calculator

Estimate how much cash you can access through a reverse mortgage by entering your age, home value, and loan details.

Quick answer: Estimate reverse-mortgage proceeds using user-entered home value, mortgage balance, official principal-limit factor, expected rate, and costs. Enter Youngest Borrower's Age, Home Value, Existing Mortgage Balance, and Expected Interest Rate to personalize the estimate. It returns Estimated Principal Limit, Max Claim Amount, and Estimated Proceeds After Payoff and Fees so you can compare the impact before choosing a next step. Use it to compare payment, equity, rate, and timing tradeoffs before applying or changing a loan.

SWReviewed by SwitchWize Research Desk · Last reviewed July 20, 2026
Estimated Principal Limit
$160,000
Estimated Principal Limit
$160,000
Max Claim Amount
$400,000
Estimated Proceeds After Payoff and Fees
$102,000
Diagnostic

Your estimated principal limit is about $160,000. This is a rough estimate, not an official HUD calculation.

After paying off your $50,000 mortgage and estimated closing costs, roughly $102,000 could be available to you.

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What to do next

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Your action plan
  1. 1

    Calculate the baseline result with your current numbers

    Estimate reverse-mortgage proceeds using user-entered home value, mortgage balance, official principal-limit factor, expected rate, and costs.

  2. 2

    Pressure-test one alternate scenario before deciding

    Assumptions change the answer, especially when rates, taxes, or timing matter.

  3. 3

    Save the result to Money Map or use the linked next action

    Turn the result into a prioritized action instead of treating it as a one-off number.

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This is an educational estimate, not tax, legal, investment, or lending advice. Tax rules, rates, and eligibility change and depend on your full situation. Confirm with a qualified professional or the provider before acting.

Calculator action path

Turn this result into a decision

Every SwitchWize calculator connects to a product comparison, rate context, guidance, alerts, and Money Map.

Rate authority hub
Compare
You could gain ~$160,000/yr. Compare nowMove from calculation to current product options.
Rate Trend
Track mortgage ratesUse market context before you decide when to act.
Guide
The Buyer-Broker Agreement: What Changed for Homebuyers After the NAR SettlementUnderstand written buyer agreements, negotiated agent compensation, and why VA seller-paid brokerage charges are not seller concessions.
Money Map
Map this $160,000/yr opportunitySave this opportunity and see how it fits your broader money plan.
Alert
Create a rate alertWatch the market instead of checking manually.

About mortgage rates

Mortgage rates depend on loan type (30-yr fixed, 15-yr fixed, ARM, FHA, VA, jumbo), your credit score, down payment, points paid, loan amount, property state, and whether you're purchasing or refinancing. The calculator above uses a representative market rate for payment estimates, your actual rate will vary.

For a personalized rate comparison, use the tool below to see lenders ranked by APR, loan type, and your profile.

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30-yr fixed · 15-yr fixed · FHA · VA · ARM: ranked by APR
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Mortgage rates shown on SwitchWize compare pages include loan type, assumed FICO, LTV, and points. Representative only. Verify all terms directly with the lender. Advertising disclosure

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Frequently Asked Questions

Everything you need to know.

What does an example Reverse Mortgage Calculator calculation look like?
Using this calculator's own default assumptions, a youngest borrower's age of 72, home value of $400,000 and existing mortgage balance of $50,000 produces an estimated estimated principal limit of $160,000 and max claim amount of $400,000. Enter your own numbers above to see how it changes for your situation.
Why does my age matter in a reverse mortgage calculation?
Older borrowers can access a higher percentage of their home equity because the loan is expected to be repaid over a shorter timeframe. Your age directly influences the principal limit factor, which determines how much you can borrow relative to your home's value.
What's the difference between my maximum claim amount and my actual proceeds?
The maximum claim amount reflects your full borrowing capacity based on your age and home value. Your actual proceeds are lower because they must cover payoff of your existing mortgage balance and closing costs, leaving you with the net amount available to access.
Is the Reverse Mortgage Calculator free to use?
Yes. SwitchWize calculators are free, and you do not need an account to run scenarios or view the result.
Does using the Reverse Mortgage Calculator affect my credit score?
No. Using a calculator does not trigger a credit check. A credit impact can occur only if you apply directly with a lender, card issuer, or provider.
Are the results personalized financial advice?
No. Calculator outputs are educational estimates based on the inputs you enter. Review assumptions and confirm terms directly with providers before making a financial decision.
What should I do after seeing the result?
Use the recommendation module on this page to compare mortgage lenders, or run Money Map to compare this home & mortgage decision with your other opportunities.
How does SwitchWize choose related offers?
Related offers are matched by the calculator surface (mortgage) and ranked using SwitchWize data such as rate, fees, trust signals, product fit, and switching friction. Paid relationships do not change organic ranking order.
How fresh are the rates and offers shown?
Rate and offer data is reviewed on a recurring cadence and every offer module shows review context or links to the methodology and disclosure pages.
Where can I see the ranking methodology?
The SwitchWize methodology page explains how rate freshness, editorial review, affiliate disclosure, and category ranking factors work.
Can Money Map use this result?
Yes. Money Map is the broader diagnostic path: it compares savings, mortgage, cards, and debt so you can see whether this calculator result is your highest-impact next move.

Why This Matters

A reverse mortgage converts home equity into accessible funds without monthly payments, but the amount you can borrow depends on your age, property value, and current interest rates. Understanding your maximum claim amount and net proceeds after existing debt payoff helps you plan whether this option fits your financial situation.

How to Use It

  1. 1Enter the youngest borrower's age, as this affects how much equity can be accessed.
  2. 2Input your home's current market value to establish the base for your borrowing calculation.
  3. 3Enter any existing mortgage balance that would need to be paid off from proceeds.
  4. 4Provide the expected interest rate to factor into the loan's cost structure.
  5. 5Enter the FHA HECM lending limit applicable to your property type and location.
  6. 6Input the principal limit factor from HUD or your lender, which converts your home equity into borrowable funds based on your age and rates.
  7. 7Review the three outputs: your maximum claim amount, estimated principal limit, and net proceeds after payoff and fees.
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