Free reverse mortgage calculator · About a minute · No personal details to start
Reverse mortgage calculator
Use this free reverse mortgage calculator to see an educational estimate of what may be available. Answer a few questions about your age, home, and goals — you will not need to share your name, email, or phone number to see your estimate. HECM programs generally start at 62; some proprietary jumbo programs may start at 55.
- No impact to your credit score
- Educational estimate only — not a loan approval
- Speak with a licensed loan officer at no cost or obligation
- No personal details required to see this estimate
Prefer to speak with someone?
Call 888-501-8539Free reverse mortgage calculator · About a minute · No personal details to start
Reverse mortgage calculator
No name, email, or phone number required. This estimate is for education only — not a loan approval or a commitment to lend.
What is a reverse mortgage?
A reverse mortgage is a loan for qualifying homeowners that lets you turn part of your home equity into funds you can use — as cash, a line of credit, or regular payments — without a required monthly mortgage payment. The most common type is a Home Equity Conversion Mortgage (HECM), insured by the Federal Housing Administration, which generally requires at least one borrower age 62 or older. Some proprietary programs may be available starting at age 55.
You keep the title to your home. As with any home loan, you must keep up with property taxes, homeowners insurance, and home maintenance, and live in the home as your primary residence.
How this reverse mortgage calculator works
Calculators simplify a complex product into a few inputs. For a deeper explanation of limits and assumptions, read how reverse mortgage calculators work.
- Your ageGenerally, the older the youngest eligible borrower, the larger the amount that may be available. HECM typically starts at 62; some jumbo programs may start at 55.
- Your home's valueYour home value is used to estimate a starting amount, up to applicable program limits.
- What you still oweA reverse mortgage first pays off any existing mortgage; the rest may be available to you.
Reverse mortgage terms in plain English
- HECM
- Home Equity Conversion Mortgage — the most common reverse mortgage, insured by the Federal Housing Administration (FHA).
- Principal limit
- The starting amount a reverse mortgage may make available, based mainly on the youngest borrower's age, the home's value, and interest rates.
- Primary residence
- The home where you live most of the year.
- Home equity
- The part of your home's value you own outright — its value minus what you still owe on it.
- Non-borrowing spouse
- A spouse who is not on the loan. Special rules and protections may apply, particularly if they are under 62.
- Housing counseling
- An independent counseling session that is typically required before obtaining a HECM, to help you understand the loan.
Frequently asked questions
Is this a free reverse mortgage calculator?
Yes. This page is Ennkar's free reverse mortgage calculator. It asks a short set of non-identifying questions (such as age, home value, and existing mortgage balance) and returns an educational estimate. It is not a loan quote, approval, or commitment to lend.
Do I need to share personal information to see an estimate?
No. You do not need to provide your name, email, phone number, or Social Security number to see the educational estimate. Sharing contact details afterward is optional if you want a licensed loan officer to call you back and review the numbers.
What is a reverse mortgage?
A reverse mortgage lets qualifying homeowners turn part of their home equity into cash, a line of credit, or regular funds — without a required monthly mortgage payment. Government-insured HECM programs generally require at least one borrower age 62 or older; some proprietary jumbo programs may be available starting at age 55. You keep the title to your home and must continue to pay property taxes and homeowners insurance and keep the home maintained.
Who can use this calculator — ages 55+ or only 62+?
This calculator covers both common paths. HECM programs generally require the youngest borrower to be age 62 or older. Some proprietary (jumbo) reverse mortgage programs may be available starting at age 55, subject to lender and investor guidelines. Final eligibility always depends on a full review.
Who can get a HECM reverse mortgage?
For a HECM, the youngest borrower must generally be age 62 or older, the home must be your primary residence, and you must have sufficient equity. A HUD-approved housing counseling session is required before closing. Proprietary (non-government) programs may have different age requirements — ask a licensed loan officer to find out which programs you may qualify for. Final eligibility depends on a full review.
How much money may be available?
The amount depends mainly on the age of the youngest borrower, your home's value (up to a federal program limit for HECM), current interest rates, and any existing mortgage that must be paid off first. The estimate on this page is educational only and is not guaranteed.
Do I still own my home?
Yes. With a reverse mortgage you keep the title to your home. The loan generally becomes due when the last borrower no longer lives in the home as a primary residence, or if loan obligations such as taxes, insurance, and upkeep are not met.
Will I have a monthly mortgage payment?
A reverse mortgage does not require a monthly mortgage payment. You remain responsible for property taxes, homeowners insurance, and home maintenance, and for keeping the home as your primary residence.
Is this estimate a loan approval?
No. This page provides an educational estimate only. It is not a loan approval, a commitment to lend, or financial advice, and no amount is guaranteed. A licensed loan officer can review your full situation and explain your options.
What can the funds be used for?
Common uses include supplementing retirement income, paying off an existing mortgage, covering home improvements or medical costs, or setting up a line of credit for the future. How you use available funds is generally up to you.
How do I get a real, personalized number?
Speak with a licensed Ennkar loan officer. They will review your full situation at no cost or obligation and walk you through your options. You can call 888-501-8539.
Prefer to talk it through?
A licensed Ennkar loan officer can review your situation at no cost or obligation.
Call 888-501-8539Important information
- This tool is for general educational purposes only.
- It is not a loan approval, a commitment to lend, or financial advice.
- Any amounts shown are estimates only and are not guaranteed.
- Available amounts depend on a full review of borrower, property, loan program, interest rate, existing liens, and counseling requirements.
- A reverse mortgage borrower must continue to meet loan obligations, including property taxes, homeowners insurance, property maintenance, and occupancy requirements.
- Housing counseling is generally required before obtaining a HECM reverse mortgage.
Ennkar, Inc. is a licensed mortgage company (NMLS# 976231). For licensing information, visit https://www.nmlsconsumeraccess.org/. State license details are available on our licensing page. Licensed in 16 states — not all products and options are available in all states. Results and estimates shown are not a solicitation to enter into a loan agreement and do not guarantee loan approval or specific terms. Results shown are estimates for education only — they are not a loan approval, not a commitment to lend, and not financial advice.