Reverse mortgage calculator

This calculator is designed to help consumers understand the effect a reverse mortgage may have on the equity in their home.

A reverse mortgage is a loan available to homeowners that allows them to convert part of the equity in their homes into cash. The loan is called a reverse mortgage because instead of making monthly payments to a lender, as with a traditional mortgage, the lender makes payments to the borrower. This calculator helps you decide if a reverse mortgage is right for you. You can explore what a reverse mortgage could cost over different time periods, such as 10 or 20 years. You can also see how your home equity may change over time, depending on interest rate and home value assumptions.