Reverse Mortgage (HECM) Calculator
Estimate principal limit, available lump sum, and lifetime monthly tenure payments under HUD's Home Equity Conversion Mortgage program.
Principal Limit
$185,600
PLF 46.4%
Max Lump Sum Available
$165,600
after fees & payoff
Monthly Tenure Payment
$1,102
for life (instead of lump)
Existing Mortgage Payoff
$0
from proceeds
Cost Breakdown
Maximum Claim Amount (capped)$400,000
Upfront MIP (2% of MCA)$8,000
Estimated closing costs$12,000
Net principal limit$165,600
Important: HUD-approved counseling is required before applying for an HECM reverse mortgage. These results use approximated principal limit factors and are estimates only — actual proceeds depend on the HUD PLF table at closing, exact expected rate, and lender pricing. Reverse mortgages reduce your home equity over time and may not be the best option in every situation.
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Reverse Mortgage Calculator results are estimates for educational and informational purposes only and do not constitute financial, tax, or legal advice. Actual outcomes will vary based on your individual circumstances. LoanPal is not a licensed financial advisor. Read full disclaimer. Consult a qualified professional before making financial decisions.