Reverse Mortgage Estimate

Reverse mortgage estimate

A HECM, the FHA-insured reverse mortgage, is open to homeowners 62 and older. See how much it could pay you.

How old is the youngest owner? Step 1 of 3

A spouse counts, even if their name is not on the deed.

Three questions. No name, email or ZIP code.

Call (833) 962-5300

Would you like a real quote for that number? Speak with a reverse mortgage specialist. We are not a lender: the line connects you with reverse mortgage lenders and brokers who can quote your home.

Get written quotes

Up to three lenders or brokers send you a written quote for your home. Free, and you owe nobody anything.

By sending this, you agree that Summit Equity Partners Inc. may pass your request to up to three reverse mortgage lenders or brokers, who may contact you about it by the email or phone you gave. You can have us erase it whenever you wish.

What changes your lump sum and monthly payment?

$1,249,1252026 HECM lending limit
31% to 44%of home value, borrower 62 to 80
2%upfront FHA insurance
$6,000cap on the origination fee
Illustration only, with nothing owed on the home: cash left after FHA insurance, the origination fee and about $3,000 of other closing costs, at today's expected rate of 7.125%.
Youngest owner$300,000 home$500,000 home$800,000 home
Age 62$78,100$134,500$220,600
Age 70$95,500$163,500$267,000
Age 80$118,300$201,500$327,800

Age counts most: each extra year on the youngest owner raises the amount. Higher rates lower it: lenders add their margin to the 10-year Treasury, 5.00% on Oct 23, 2026. Your own estimate lists each line, from the amount you could borrow through insurance, fees and any payoff to what is left. Who qualifies

Monthly payments for life (tenure) keep coming for as long as you live in the home, even past 100. HUD only sizes them as if the loan ran to the youngest owner's 100th birthday. Current reverse mortgage rates · Closing costs

Older couple sitting on the front steps of their own house in late afternoon light

Before you sign a reverse mortgage

  • What you owe grows. Interest and the 0.5% yearly FHA insurance are added each month, so the balance goes up, not down. See it year by year
  • Your heirs never owe more than the home is worth. To keep the house they pay the loan or 95% of its appraised value, whichever is less. After the borrower dies
  • Property taxes and home insurance stay yours. Falling behind on them can make the loan due.
  • A counselor session comes before any application. HUD requires one for every HECM. The counselor works for no lender, and a session is often free or about $125. Find a HUD-approved counselor
  • Walk away from pressure. Nobody should rush you to sign, or push you to put the money into an annuity or insurance policy.

Reverse mortgage companies and your state's regulations

Three lenders made 39% of the 22,318 HECMs HUD insured from October 2025 to August 2026: Mutual of Omaha Mortgage, Finance of America Reverse and Longbridge Financial. We rank them only by HUD's own loan counts, and no company pays to be listed.

See the reverse mortgage companies ranked

The HECM is a federal program, but each state licenses lenders and sets its own property tax help for older homeowners. Reverse mortgage rules by state