Free Reverse Mortgage Calculator

Reverse Mortgage Calculator

The resulting figures are merely loan estimates. Loan estimates are the amounts borrowers may be eligible to receive, before transaction fees. This calculation is based off your home’s value, your age and HUD’s principal limit factor. Results are not specific terms and may not be presently available credit terms. For specific terms (financing fees, interest rates, etc.) please seek the consult of a licensed mortgage loan originator. Consent is not required as a condition of receiving goods or services. Your privacy is our priority. By clicking “submit”, you consent to share your information with Mortgage for Seniors. This includes a free, no-obligation consultation with a Mortgage for Seniors representative who will contact you at the email and/or telephone number you provide. Mortgage for Seniors will not share any of your information with an outside entity without your express consent. Please review our Privacy Policy for further details.

We appreciate you using our reverse mortgage calculator

Many of our visitors are very curious to see how much you can get with a reverse mortgage. By being on this page, it is clear you are beginning to think ahead about your finances in retirement. Unfortunately, one of the most overlooked assets in retirement is home equity.

For most of us, buying a home is the biggest investment we make. Using home equity alongside other investments will extend the life of your retirement fund.

Tapping into home equity can act as a useful tax shield. Think about it: Any time you withdraw investments or receive pension income, it is taxed. Proceeds accessed with a reverse mortgage are not taxed. Using this program, you can leave other investments in the financial markets to keep growing.

You can use a reverse mortgage as an emergency fund If developing a larger nest egg for the “what if” moments is a concern, a reverse mortgage line of credit program may be beneficial. As time progresses, funds available in your reverse mortgage credit line will increase. If you do not need immediate access to the funds, let the funds grow. Treat this like a rainy-day fund for future unforeseen expenses such as medical expenses or home repairs. 

Provide security for your spouse. A reverse mortgage is a way to provide security for your spouse in your home. If a borrower dies, the program ensures the surviving co-borrower will have the ability to live in the home for as long as that person desires. The only requirement is staying current with property taxes and homeowner’s insurance expenses. This is particularly important for couples who currently have mortgage and consumer debt. The loss of a spouse can result in loss of income. To think about: Would your spouse be able to afford a home in San Diego without you? 

We all have some level of concern about the future, and that’s perfectly normal. Can a reverse mortgage better position you for the years ahead? In utilizing our free reverse mortgage calculator, it is our hope you find the answers you seek. 

We encourage you to take some time to review our website, learn more about this great home loan program and take the first step in securing your own dream retirement. 

Although work responsibilities may now be a thing of the past, your living expenses in San Diego are not. They will continue to climb. Many retirees are admittedly nervous about what lies ahead. While they are looking forward to pursuing their own interests, spending time with their families and traveling, they’re also worried about if they’ll have enough money and if they’ll remain healthy. Now is a particularly good time to begin brainstorming about ways to reduce monthly expenses. The upside of the reverse mortgage program is that it can help reduce monthly expenses.

For those with a preexisting mortgage: Principal and interest payments will now become optional with this program. For those without a preexisting mortgage: More funds will become available to use according to your needs.

It is a shame that so many retirees overlook this product. Although a reverse mortgage may not be a great option for every individual, it is a life-changing product for so many. Whether you have an existing mortgage or not, HECMs can be instrumental to not only preserving wealth – but also growing it!