Reverse Mortgage Calculator
Estimate reverse mortgage proceeds after mortgage payoff, closing costs, and principal limit assumptions.
Gross Principal Limit
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Payoff and Fees
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Estimated Available Proceeds
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Equity Not Borrowed
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Guide
How it works
Use this calculator to estimate reverse mortgage proceeds.
What this calculator does
The reverse mortgage calculator estimates gross principal limit, payoff and fees, available proceeds, and equity not borrowed.
Reverse Mortgage Formula
Available Proceeds = Home Value x Principal Limit - Mortgage Balance - Fees
Example calculation
If a home is worth 600,000 and the principal limit is 45%, the calculator estimates available proceeds after paying off any existing mortgage and fees.
When to use this calculator
- exploring reverse mortgage scenarios
- estimating available proceeds
- checking the impact of an existing mortgage
- reviewing closing cost assumptions
FAQs
Is this a lender quote?
No. It is a planning estimate.
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