Reverse mortgage calculator: estimate your 2026 HECM principal limit and net cash
Last updated: · Reviewed by Simply Approved Mortgages (NMLS #2620881)
Use this free reverse mortgage calculator for homeowners 62 and older to estimate your HECM principal limit and net available cash. It uses HUD's 2026 HECM lending limit and a transparent Principal Limit Factor (PLF) model — real figures depend on HUD's published PLF tables and your locked Expected Interest Rate.
Your numbers
This tool is an educational estimator only. It is not a loan offer, commitment to lend, or approval. All figures are preliminary and subject to final lender approval, underwriting, appraisal, title review, and HUD requirements. Your actual principal limit and proceeds are determined by a HUD-approved HECM lender at FHA case-number assignment.
Based on a Principal Limit Factor of 29.4% × $500,000 (capped at the 2026 HUD lending limit of $1,249,125).
HECM proceeds are used to retire any existing mortgage at closing.
Initial MIP + origination + third-party fees. Educational estimate.
Principal limit, minus mortgage payoff, minus estimated closing costs. Excludes any optional set-asides.
Illustrative HECM loan-to-value by age
This quick-reference table shows roughly what share of a home's value a HECM principal limit represents at each age, using an expected rate of 6.625% with a 2% margin as of May 28, 2026. Find the age of the youngest borrower to see the corresponding loan-to-value.
| Age | LTV | Age | LTV | Age | LTV | Age | LTV |
|---|---|---|---|---|---|---|---|
| 62 | 32.8% | 72 | 38.8% | 82 | 48.6% | 92 | 63.1% |
| 63 | 33.5% | 73 | 39.7% | 83 | 49.8% | 93 | 64.9% |
| 64 | 34.2% | 74 | 40.5% | 84 | 51.2% | 94 | 66.7% |
| 65 | 34.9% | 75 | 41.5% | 85 | 52.5% | 95 | 68.5% |
| 66 | 35.7% | 76 | 42.2% | 86 | 53.9% | 96 | 69.5% |
| 67 | 36.5% | 77 | 43.3% | 87 | 55.4% | 97 | 70.1% |
| 68 | 37.3% | 78 | 44.3% | 88 | 56.6% | 98 | 70.1% |
| 69 | 38.1% | 79 | 45.0% | 89 | 58.2% | 99 | 70.1% |
| 70 | 38.6% | 80 | 46.1% | 90 | 59.8% | ||
| 71 | 38.6% | 81 | 47.3% | 91 | 61.4% |
- The expected rate changes weekly (typically each Tuesday); any change in the expected rate or the margin selected changes the resulting LTV.
- These are gross figures — closing costs, the initial mortgage insurance premium, and any payoff of an existing mortgage have not been deducted.
- The chart uses the age of the youngest borrower. It does not show figures for a non-borrowing spouse under age 62.
- Illustrative only. Not an offer, commitment to lend, or estimate of your proceeds.
Want a more precise estimate?
Simply Approved Mortgages will run your numbers against HUD's published PLF table for your exact age and the current Expected Interest Rate — and walk you through a full cost-and-benefit comparison.
Understand the numbers behind your estimate
- Get my estimate
Talk with a licensed loan officer — no obligation.
- Reverse mortgage rates
How HECM interest rates and margins are set.
- Fixed vs. adjustable HECM
Trade-offs between the two HECM rate structures.
- 2026 HECM lending limits
This year's Maximum Claim Amount (MCA) and how it applies.
- What is a reverse mortgage?
Plain-English overview of how a HECM works and who it fits.
- HECM (FHA reverse mortgage)
The federally-insured reverse mortgage program for homeowners 62+.
Reverse mortgage calculator FAQ
- How accurate is this reverse mortgage calculator?
- It's a solid starting estimate based on HUD's 2026 lending limit and a simplified Principal Limit Factor model. Your exact figure depends on HUD's published PLF tables, the lender's locked Expected Interest Rate, and your final appraised value.
- What is the 2026 HECM lending limit?
- HUD's 2026 HECM lending limit is $1,249,125. Home values above this cap are calculated using the limit, not the full appraised value, unless you pursue a jumbo (proprietary) reverse mortgage.
- Does my age affect how much I can borrow?
- Yes. The older the youngest borrower on title, the higher the Principal Limit Factor, which generally means access to a larger share of your home's value.
- Do I have to pay off my existing mortgage with a reverse mortgage?
- Yes. Any existing mortgage balance must be paid off at closing, typically using your HECM loan proceeds, before you receive any remaining funds.
- Will I still have to pay anything monthly?
- There's no required monthly principal and interest payment, but you must keep paying property taxes, homeowners insurance, HOA dues if applicable, and maintain the home.
- Is this calculator a loan approval?
- No. This tool provides an educational, preliminary estimate only. It is not a loan offer, commitment to lend, or approval. Final numbers require lender underwriting, an FHA appraisal, and HUD's financial assessment.
Related reverse mortgage articles, rate updates & HECM guides
New reverse mortgage articles are publishing soon. In the meantime, browse upcoming categories:
Documents required for a reverse mortgage
When you apply for a HECM reverse mortgage, your lender will request documents that verify your identity, property ownership, income, and assets. Gathering these in advance can speed up your estimate and application.
- Government-issued photo ID
Current driver’s license, passport, or state-issued ID.
- Social Security number verification
Social Security card or award letter showing your SSN.
- Current mortgage statement
Most recent statement if refinancing; purchase agreement if buying.
- Homeowner’s insurance declarations page
Shows current coverage, premium, and mortgagee clause.
- Property tax statement or receipt
Latest county tax bill showing taxes are current or payment history.
- Bank statements
Last 1-2 months to verify closing funds and residual reserves.
- Investment or retirement accounts
Recent statements for IRA, 401(k), brokerage, or other liquid assets.
- HOA or condo information
Homeowners association statement or condo questionnaire if applicable.
- Trust or title vesting documents
Required when the home is held in a living trust or entity.
- Flood insurance declaration
Current policy if the property is in a flood zone.
- HUD-approved counseling certificate
Required before loan application. Obtained from a HUD-approved reverse mortgage counselor.
Why we pull credit for your reverse mortgage pre-approval
HUD requires a Financial Assessment for every HECM reverse mortgage, including a review of your credit history and record of paying property taxes and homeowners insurance. As part of our standard broker/lender pre-approval process, we typically order a tri-merge credit report through a HUD-approved credit vendor to verify identity, review obligations, and confirm that you can continue paying property taxes, homeowners insurance, and maintenance after closing. Whether a tri-merge is required, and any fees, are set by the wholesale lender and credit vendor — not by HUD as a stand-alone rule.
Pay for your credit report — SmartPay
Simply Approved Mortgages uses MeridianLink SmartPay to securely collect the credit report fee for your reverse mortgage pre-approval. Payment goes directly to the credit vendor — not to us — and unlocks a tri-merge credit report (Equifax, Experian, TransUnion) that your loan officer uses to complete the broker/lender pre-approval file for HUD's Financial Assessment.
- Secure, PCI-compliant checkout hosted by MeridianLink
- Standard step in our broker/lender pre-approval process (not a HUD stand-alone requirement)
- Optional — you can decline; your loan officer will explain any impact on your options
You'll be redirected to cic.meridianlink.com (SmartPay).
Check your credit first — $1 trial at MyITINCredit
Before you apply, it's smart to know exactly where your credit stands. MyITINCredit offers a $1 trial for 15 days that includes all three credit reports and scores (Equifax, Experian, TransUnion), plus ongoing credit monitoring so you can catch errors, dispute inaccuracies, and watch for identity theft.
- See all 3 bureau reports & scores before your lender does
- Ongoing monitoring alerts you to new accounts or score changes
- Fix errors early — cleaner credit can widen your reverse mortgage options
You'll be redirected to myitincredit.com. Third-party service — terms apply.
Credit report fees are paid directly to the credit vendor. Simply Approved Mortgages (NMLS #2620881) does not profit from the credit pull. MyITINCredit is an independent third-party service; pricing, terms, and features are set by that provider.
Ready to See Your Reverse Mortgage Numbers?
Get your personalized HECM estimate from a Simply Approved Mortgages licensed loan officer, or run the numbers yourself with our calculator — free, no obligation, no hard credit pull.