Reverse Mortgage Calculator


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Most seniors who are interested in learning more about the Reverse Mortgage process will often use a Reverse Mortgage Calculator. Most online reverse mortgage calculators require the current value of the home in question, the total amount of any liens on the property, the ages of any individuals on the deed and zip code. The Reverse Mortgage Calculator will then immediately give a value that is fairly close to what an actual Reverse Mortgage estimate will show.

Using a Reverse Mortgage Calculator is a great way to get an idea of how much you could receive from a reverse mortgage, but also remember it is just an estimate. All Reverse Mortgage products use a variable interest rate, and some Reverse Mortgage Calculators do not always stay completely accurate with the current interest rate. Also, some Reverse Mortgage Calculators will ask for the age of the individual, and not the exact birth date. This can result in a difference between the estimate that would be provided by a Reverse Mortgage Loan Officer and the estimate prepared by the Reverse Mortgage Calculator .

A Reverse Mortgage is a loan that allows seniors age 62 and above to utilize the dormant equity in their homes, but different than a standard equity line, in that there are never any payments required with a Reverse Mortgage while the senior lives in the home. The formula uses the value of the property, the age of the individual, and the current interest rate to provide an amount of money that is usually anywhere from 20 to 60 percent of the home’s appraised value. The funds many be received in numerous ways, including a lump sum, a monthly “annuity-like” payment, or an easily accessible Line of Credit.

For people interested in learning more about the Reverse Mortgage program, a Reverse Mortgage Calculator is a great way to get some initial figures and amounts that can be utilized from the home’s equity. After using the Reverse Mortgage Calculator however, every person who is interested in learning more should get a proper estimate from a Reverse Mortgage Loan Officer. There should never be a charge to receive a Reverse Mortgage estimate, and if that is ever the case, please report the individual in violation to the Department of Housing and Urban Development.

Reverse Mortgage Nation provides an online Reverse Mortgage Calculator and a listing of Reverse Mortgage Loan Officers in your state.

Troy Shellhammer is a Reverse Mortgage specialist with Next Generation Financial Services, a division of 1st Mariner Bank. He advises seniors on the Reverse Mortgage process and produces Reverse Mortgage loans nationwide. Please visit his website at or call 1-888-9 REVERSE for any questions, information, or an estimate on what you or your friends and relatives may receive with a Reverse Mortgage.


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