Overview
The Reverse Mortgage Calculator helps you estimate the amount you may be able to borrow from your home equity through a reverse mortgage. It considers your home's value, your age, existing mortgage balance, and expected interest rate to provide an estimate of proceeds, loan-to-value, and remaining equity.
How to Use
- Enter your home's current value.
- Enter the age of the youngest borrower (must be at least 62 for most reverse mortgages).
- Enter your existing mortgage balance (if any).
- Enter the expected interest rate for the reverse mortgage.
- Click "Calculate" to see your estimated proceeds, loan-to-value, and remaining equity.
Features
- Estimates proceeds based on age, home value, and rates
- Shows loan-to-value and remaining equity
- Visualizes the breakdown with a chart
- Responsive and easy to use
Tips
- This calculator provides an estimate only. Actual amounts may vary based on lender, fees, and government limits.
- Reverse mortgages are typically available to homeowners aged 62 and older.
- Consult a financial advisor or reverse mortgage specialist for personalized advice.
About
Built with HTML5, CSS3, Bootstrap 5, and Chart.js. All calculations are performed locally in your browser.