Quick Answer:
The amount available depends on the youngest homeowner's age, home value, state, existing mortgage balance, expected rate, costs, and financial assessment. This tool provides a preliminary estimate—not a loan quote or approval.
Free Reverse Mortgage Calculator
Updated for 2026 Limits
Secure & Private. No Credit Check.
Ages 55–61 may qualify for select proprietary programs depending on state and other requirements.
How the Reverse Mortgage Calculation Works
The amount you can receive from a reverse mortgage is calculated using a formula established by the Federal Housing Administration (FHA):
Principal Limit = Home Value × Principal Limit Factor (PLF)
Net Proceeds = Principal Limit - Closing Costs - Mortgage Payoff
What is the Principal Limit Factor (PLF)?
The PLF is a percentage determined by your age (or the youngest borrower's age if married) and current interest rates. The FHA publishes official PLF tables that lenders must use.
Key insight: The older you are, the higher your PLF, which means you can borrow a larger percentage of your home's value.
Principal Limit Factors (PLF) by Age
These PLF rates use the same 6.875% expected-rate illustration as our calculator. Actual expected rates vary by lender and market conditions, so an actual quote may use a different PLF column.
| Age | PLF | Example at $500K Home |
|---|---|---|
| 62 | 31.7% | $158,500 |
| 65 | 33.8% | $169,000 |
| 70 | 37.5% | $187,500 |
| 75 | 40.5% | $202,500 |
| 80 | 45.1% | $225,500 |
| 85 | 51.6% | $258,000 |
| 90 | 59.0% | $295,000 |
Source: HUD HECM Principal Limit Factor Tables. Uses a 6.875% expected-rate illustration; actual PLFs depend on the expected rate at application.
What Affects How Much You Can Get?
1. Your Age (Most Important Factor)
The younger borrower's age determines the PLF. If you're married, the loan is based on the YOUNGER spouse's age to protect the surviving spouse.
Example: Husband is 78 and wife is 71. The proceeds are based on the younger homeowner's age. At this page's 6.875% illustration, the age-71 general-table PLF is 37.5%.
2. Your Home's Appraised Value
The FHA sets a maximum lending limit each year. For 2026, that limit is $1,249,125. A higher-value home can still use a HECM, but the HECM calculation is capped at that amount; a proprietary product may also be worth comparing.
3. Current Interest Rates
Higher interest rates mean lower PLF percentages (and less you can borrow). When rates are low, your proceeds increase.
4. Your Existing Mortgage Balance
If you have an existing mortgage, it must be paid off first from your reverse mortgage proceeds. The remaining amount is what you receive.
Important: Even if you have a mortgage, you can still get a reverse mortgage if the available proceeds can pay off the required liens and other eligibility requirements are met.
5. Closing Costs
Closing costs vary with the program, property, lender, and transaction. Any financed costs and required set-asides reduce the proceeds available to the homeowner.
Reverse Mortgage Calculation Examples
Example 1: Paid-Off Home in New York
- Borrower: 73-year-old widow
- Property: Single-family home in Westchester County, NY
- Home value: $875,000
- Existing mortgage: $0 (paid off)
- Age 73 PLF: 38.6%
Calculation:
- Principal limit: $875,000 × 38.6% = $337,750
- Less: Upfront MIP (2%): -$17,500
- Less: Origination fee: -$6,000
- Less: Other closing costs: -$8,500
- Less: Existing mortgage: -$0
Estimated net proceeds: ~$305,750
Illustration only; actual rate, appraisal, costs, and underwriting will change the result
Example 2: Home with Existing Mortgage
- Borrower: 68-year-old married couple
- Property: Townhouse in Bergen County, NJ
- Home value: $650,000
- Existing mortgage: $185,000
- Age 68 PLF: 36.2%
Calculation:
- Principal limit: $650,000 × 36.2% = $235,300
- Less: Upfront MIP (2%): -$13,000
- Less: Origination fee: -$6,000
- Less: Other closing costs: -$7,500
- Less: Existing mortgage: -$185,000
Estimated net proceeds: ~$23,800
The $185,000 lien is paid off; property taxes, insurance, maintenance, and other obligations continue
Example 3: High-Value Home (Jumbo Product)
- Borrower: 76-year-old single homeowner
- Property: Single-family home in Palm Beach County, FL
- Home value: $2,100,000
- Existing mortgage: $425,000
- Note: A proprietary product may provide a larger principal limit than HECM
Why a lender review is required:
Proprietary products do not share one government PLF table. Available proceeds depend on the current lender program, borrower age, property, state, lien payoff, and rate sheet. The calculator can screen likely eligibility, but a specialist must compare the active products for an actual amount.
How to Increase Your Reverse Mortgage Proceeds
1. Wait Until You're Older
Your PLF increases with age. Waiting just a few years can significantly increase what you can borrow:
Illustrative initial principal limit on a $500,000 home, before costs or payoffs
- At age 65: ~$169,000
- At age 70: ~$187,500
- At age 75: ~$202,500
- At age 80: ~$225,500
2. Pay Down Your Existing Mortgage
Every dollar you pay toward your mortgage increases your net proceeds dollar-for-dollar (since the mortgage must be paid off first).
3. Improve Your Home's Value
Strategic renovations before the appraisal can increase your borrowing capacity:
- Kitchen/bathroom updates
- Curb appeal improvements
- Necessary repairs (roof, HVAC)
- Fresh paint and flooring
4. Apply When Interest Rates Are Low
Lower expected interest rates = higher PLF = more you can borrow. Monitor rate trends and apply when rates dip.
5. Consider Proprietary/Jumbo Products
If your home is worth more than the HECM limit ($1,249,125 in 2026), proprietary reverse mortgages can provide access to higher loan amounts.
Check Your Eligibility
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Want a More Detailed Estimate?
Our full quiz provides a personalized breakdown including set-asides, disbursement options, and exact loan limits for your area.
Frequently Asked Questions
What is the maximum reverse mortgage amount in 2026?
For HECM loans, the maximum is based on the FHA lending limit of $1,249,125. However, the actual amount you receive depends on your age and the PLF. For proprietary/jumbo reverse mortgages, limits can extend to $4 million or more.
Can I get $200,000 from my reverse mortgage?
Possibly. Age and home value set the preliminary principal limit, but the existing mortgage payoff, closing costs, expected rate, financial assessment, and any required set-asides determine what is actually available. Use the calculator for a preliminary estimate, then have a specialist verify the current lender terms.
How accurate is this calculator?
Our HECM illustration uses the official HUD PLF table at the disclosed 6.875% expected rate and the 2026 lending limit. It is not a loan quote or approval. Final amounts depend on the expected rate available at application, appraisal, lien payoff, costs, financial assessment, set-asides, and lender terms.
Do I have to take all the money at once?
No! Most borrowers choose a Line of Credit, which lets you take money as needed. Unused funds actually GROW over time. Learn more in our Line of Credit guide.