Reverse Mortgage Estimator (HECM)
Estimate your eligibility and cash proceeds
Estimated Results
Principal Limit (Borrowing Power)
$0
Estimated Cash Available
$0
Estimates based on 2025 lending limits ($1,149,825 max claim) and simplified PLF factors. Actual offers may vary.
How a Reverse Mortgage Works
A Reverse Mortgage (HECM) allows homeowners age 62 and older to convert part of their home equity into cash. Unlike a traditional mortgage, you do not make monthly mortgage payments. Instead, the loan is repaid when you sell the home, move out permanently, or pass away.
- No Monthly Payments: You are not required to pay back the loan monthly as long as you live in the home.
- Tax-Free Cash: Proceeds can be used for any purpose—medical bills, debt payoff, or living expenses.
- Ownership: You remain the owner of your home and must continue paying property taxes and insurance.
Eligibility Requirements
- Age: You (or the youngest borrower) must be at least 62 years old.
- Equity: You generally need to own at least 50% of your home's equity.
- Residency: The home must be your primary residence.
Frequently Asked Questions
Do I lose ownership of my home?
No. You remain the owner of the home. The lender places a lien on the property, but you retain title as long as you meet loan obligations like paying taxes and insurance.
What happens if I outlive the loan proceeds?
You cannot be forced out of your home as long as you live in it and pay property charges, even if the loan balance exceeds the home value.
What happens to my heirs?
Your heirs can choose to repay the loan (usually 95% of the appraised value) to keep the home, or sell the home to repay the debt. If the home sells for more than the debt, they keep the difference.