Reverse Mortgage Calculator

Estimate the potential proceeds from a reverse mortgage based on your home value, age, and interest rates.

Your Details

₹ 50,00,000
62 Years
6.0 %
₹ 0

Estimated Net Proceeds

₹ 0

Total Available Loan Amount

₹ 0

Loan Fees & Other Costs

₹ 0

Key Factors Influencing Your Reverse Mortgage

Factor Impact on Proceeds
Home Value Higher home value generally leads to higher available loan amounts.
Youngest Borrower's Age Older borrowers typically qualify for more proceeds.
Interest Rate Lower interest rates can result in higher initial loan amounts.
Outstanding Mortgage/Loan Any existing loan must be paid off first, reducing net proceeds.
Closing Costs & Fees These reduce the total amount you receive.

Unlock Your Home Equity: Reverse Mortgage Calculator

Estimate your potential reverse mortgage proceeds and understand how it works.

Understanding Reverse Mortgages

A reverse mortgage allows homeowners aged 62 and older to convert a portion of their home equity into tax-free cash, without having to sell their home or make monthly mortgage payments. Instead, the loan is repaid when the last borrower leaves the home permanently.

This financial tool can provide a vital source of funds for seniors, helping to cover living expenses, medical costs, home repairs, or simply offering greater financial flexibility in retirement. It's crucial to understand that while you retain ownership of your home, interest accrues on the loan balance, and the debt is repaid from the home's sale when it's no longer your primary residence.

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How Our Calculator Provides Insights

Our easy-to-use Reverse Mortgage Calculator provides a preliminary estimate of the funds you might be eligible to receive. It considers key factors to give you a clearer picture of your potential proceeds, all done securely in your browser without storing your information.

  • Input Home Value
    Enter your home's estimated current market value. This is a primary factor in determining loan limits.
  • Enter Youngest Borrower's Age
    The age of the youngest borrower (or non-borrowing spouse) significantly impacts the amount you can borrow.
  • Consider Current Interest Rates
    While our calculator uses general rates for estimation, actual rates will vary and affect your final payout.
  • Get Your Estimate
    Click "Calculate" to receive an immediate estimate of your potential loan proceeds, displayed clearly on screen.
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Important Points to Remember

While our calculator offers a useful estimate, a reverse mortgage is a complex financial product. Here are key aspects to keep in mind:

Not a Grant:
A reverse mortgage is a loan against your home equity, not a government grant. Interest accrues, and the loan must be repaid.
Retain Ownership:
You maintain ownership of your home and are responsible for property taxes, homeowner's insurance, and home maintenance.
Mandatory Counseling:
Federal regulations require all reverse mortgage applicants to undergo independent counseling to ensure they fully understand the product's implications.
Loan Limits:
The amount you can borrow is subject to FHA loan limits for Home Equity Conversion Mortgages (HECMs) or proprietary loan limits for non-HECM products.
Impact on Heirs:
Upon your passing or permanent move, your heirs can choose to repay the loan and keep the home, or sell the home to satisfy the debt.
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Frequently Asked Questions

For most reverse mortgage products, including the popular Home Equity Conversion Mortgage (HECM), all homeowners on the title must be at least 62 years old.

Yes, absolutely. You retain full ownership of your home with a reverse mortgage. The lender places a lien on the property, similar to a traditional mortgage, but you remain the homeowner.

Reverse mortgages typically involve various fees, including an origination fee, mortgage insurance premiums (for HECMs), closing costs (appraisal, title, etc.), and servicing fees. These can often be financed into the loan amount.

The loan becomes due and payable when the last borrower permanently leaves the home (e.g., sells the home, passes away, or moves to a long-term care facility). At that point, the loan is typically repaid from the sale of the home or by heirs who wish to keep the property.