Reverse Mortgage Calculators | Kimberly Renquest
Explore eight educational reverse mortgage calculators for retirement and housing scenarios.
Calculator Assumptions
How This Estimate Is Built
Reverse Mortgage Calculator Hub
Quick Estimate Overview
Could a Reverse Mortgage Improve Your Retirement?
What You Need to Know About Reverse Mortgages
You Still Own Your Home
Non-Recourse Loan Protection
Live There as Long as You Want
No Monthly Payments Required
? Reverse Mortgage Myths — Debunked
Three Reasons. One Mission.
Kimberly Renquest
Luminate Bank
Simple Reverse Team
The Truth About Reverse Mortgages
• Estimated rate used: The expected interest rate is set to %. You can adjust this slider in the "START HERE" section above. A higher expected rate reduces the Principal Limit Factor (PLF) and the proceeds available to you. A lower rate increases them.
• Age assumption: Calculations use the age of the youngest borrower ( years). HECM proceeds increase with age because the Principal Limit Factor rises as life expectancy decreases. If there are multiple borrowers, the youngest person's age determines the calculation.
• FHA lending limit assumption: The 2026 FHA HECM maximum claim amount is $1,249,125. If your home value exceeds this limit, calculations are capped at the FHA limit—not your full appraised value. This is a HUD rule, not a lender choice.
• Approximate PL factor logic: The Principal Limit Factor (PLF) is estimated using an age-based base factor (ranging from ~38% at age 62 to ~72% at age 90+) combined with a rate adjustment. The rate adjustment applies a scaling factor that decreases as the expected rate rises above 4%. HUD publishes official PLF tables monthly; this calculator uses a simplified formula for illustration only. Your actual PLF will be determined by the current HUD table at the time of application.
Illustrative estimate only. HUD states HECM proceeds depend on age, current interest rate, and the lesser of appraised value, the FHA HECM limit, or sales price. This calculator uses the 2026 HECM maximum claim amount of $1,249,125. Results are estimates for educational purposes only and not a loan offer. You must continue paying property taxes, homeowners insurance, HOA dues if applicable, and maintain the home. HUD says borrowers may remain indefinitely if taxes and insurance are kept current.
SEE IF A REVERSE MORTGAGE MAY HELP YOUR RETIREMENT
Enter the age of the youngest borrower on the loan. The older you are, the more equity you can access. This is a key number—use the youngest person if there are two borrowers.
Enter your best estimate of what your home would sell for today. A formal appraisal is required later. Check Zillow, your last tax assessment, or recent neighborhood sales. An estimate is perfectly fine here.
Enter the approximate payoff of your current mortgage, HELOC, or any liens. Look at your most recent mortgage statement for the principal balance. If you own your home free and clear, enter $0.
This is the expected interest rate for the reverse mortgage. Higher rates reduce your available proceeds; lower rates increase them. We start with a current market estimate—you can move the slider to see how rate changes affect your numbers. This is just for illustration.
Illustrative estimate only
HUD states HECM proceeds depend on age, current interest rate, and the lesser of appraised value, the FHA HECM limit, or sales price. This calculator uses the 2026 HECM maximum claim amount of $1,249,125. Results are estimates for educational purposes only and not a loan offer. You must continue paying property taxes, homeowners insurance, HOA dues if applicable, and maintain the home. HUD says borrowers may remain indefinitely if taxes and insurance are kept current.
Click any option above and we will take you straight to the right calculator. Already filled in your numbers in "START HERE"? They carry over automatically.
*Consult a tax advisor. Loan proceeds are generally not considered taxable income, but you must continue paying property taxes, insurance, and maintain the home.
This is the age of the borrower whose Social Security benefit is being evaluated. It may differ from the HECM eligible age entered in "START HERE" above.
Unused HECM line-of-credit grows at the loan's interest rate plus the annual mortgage insurance premium (currently 0.50%). This is not interest you earn—it is an increase in your available borrowing capacity.
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Reverse mortgages are federally regulated, FHA-insured loans with built-in consumer protections. Here are the facts every homeowner should understand before deciding.
The lender does not take title. Your name stays on the deed. You can sell, refinance, or leave the home to your heirs at any time. A reverse mortgage is simply a loan secured by your home equity—not a sale.
FHA insurance means you (and your heirs) will never owe more than the home is worth at sale. If the loan balance exceeds the home's value, FHA covers the difference. Your other assets, savings, and estate are fully protected.
There is no maturity date or forced move-out. You can remain in the home indefinitely as long as you maintain it as your primary residence, keep current on property taxes, homeowners insurance, and HOA dues if applicable, and keep the home in reasonable condition.
The loan balance grows over time instead of requiring monthly payments to the lender. You can choose to make voluntary payments to reduce the balance, but they are never required. The loan is typically repaid when the home is sold or the last borrower no longer lives there.
The bank takes my home.
False. You retain full ownership and title. The lender only has a lien—just like a traditional mortgage. You can sell, refinance, or pass the home to heirs.
My heirs will be stuck with debt.
False. FHA insurance makes this a non-recourse loan. Heirs can sell the home to satisfy the loan, keep any remaining equity, or walk away with zero personal liability if the balance exceeds the home's value.
I need income or good credit to qualify.
False. HECMs do not use traditional income and credit score rules the same way regular mortgages do, but lenders must still complete a financial assessment to confirm the borrower can pay taxes, insurance, HOA dues if applicable, and maintain the home.
Social Security and Medicare will be affected.
False. Reverse mortgage loan proceeds are not considered taxable income and do not affect Social Security or Medicare benefits. However, needs-based programs like Medicaid or SSI may have eligibility implications—consult a benefits advisor.
I can be forced out of my home.
False. You cannot be forced to leave as long as the home remains your primary residence, you pay property taxes and insurance on time, maintain the property, and comply with HUD occupancy requirements. The loan only becomes due when you permanently move out, sell, or pass away.
All HECM reverse mortgages are FHA-insured under the U.S. Department of Housing and Urban Development with mandatory consumer protections.
HUD mandates independent third-party counseling with a HUD-approved agency before you can apply. No exceptions.
HUD sets the maximum claim amount annually. The 2026 FHA HECM limit is $1,249,125, protecting both borrowers and the program.
Home Equity Conversion Mortgages (HECMs) are federally insured reverse mortgages regulated by the U.S. Department of Housing and Urban Development (HUD) and insured by the Federal Housing Administration (FHA). All borrowers must complete HUD-approved independent counseling before proceeding. These loans are non-recourse: neither you nor your heirs will be personally liable for repayment beyond the value of the home at the time of sale. You must continue paying property taxes, homeowners insurance, HOA dues if applicable, and maintain the home in reasonable condition. Failure to meet these obligations may result in loan default and potential foreclosure. This calculator hub is for educational and illustrative purposes only and does not constitute a loan offer or financial advice. Rates, limits, and program terms are subject to change. NMLS 1290080 · Luminate Bank NMLS 1281698.
Most banks and credit unions do not offer reverse mortgages. And if they do? They immediately ship you off to a third-party call center — often in another state — where you are just another number in a queue. The personal, localized experience you trust them for? Gone.
Kimberly Renquest are your direct, local points of contact from start to close. No call centers. No handoffs. Just two experienced professionals who answer their phones and know your name.
We are backed by a real, federally regulated bank — not a broker shop or lead-generation company. That means institutional stability, direct lending authority, and the trust that comes with a chartered financial institution.
Reverse mortgages are all we do here. That means specialized underwriting, HUD-compliant processes, and a team that understands the nuances of FHA HECM guidelines inside and out — so nothing falls through the cracks.
Separating fact from fiction. Get the honest, no-fluff breakdown of how reverse mortgages actually work, who they're really for, and what every homeowner over 62 should know before making a decision.
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