Reverse Mortgage Calculator
Estimate your FHA-Insured HECM (Home Equity Conversion Mortgage) loan proceeds
Estimate Only: This calculator provides a general estimate based on HUD Principal Limit Factor tables. Actual amounts are determined by a HUD-approved lender after a formal appraisal. Minimum borrower age is 62.
Enter your home's estimated market value
This will be paid off from your proceeds at closing
Must be 62+. Use youngest borrower or eligible spouse.
Lower rates = higher proceeds. Call Brad for current rates: 417-887-9595
Your Estimated Reverse Mortgage Proceeds
Principal Limit (Gross)
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Total borrowing power before costs
HUD Lending Limit Used
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2024 HUD max: $1,209,750
Est. Closing Costs & MIP
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Upfront MIP (2%) + estimated fees
Mortgage Payoff at Closing
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Deducted from proceeds
Estimated Net Available to You
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Available as lump sum, line of credit, monthly payments, or combination
Ready to get an exact quote from a HUD-approved specialist?
Call Brad Farris directly at 417-887-9595
Contact Farris Mortgage TodayHow is this estimated?
- Principal Limit Factor (PLF): HUD sets a percentage based on your age and expected interest rate. Older borrowers and lower rates mean a higher PLF.
- Eligible Home Value: The lesser of your appraised value or HUD's 2024 lending limit of $1,209,750.
- Gross Principal Limit = Eligible Home Value x PLF
- Net Proceeds = Gross Principal Limit - Upfront MIP (2%) - Est. Closing Costs - Existing Mortgage Payoff
- Remaining proceeds can be received as a lump sum, growing line of credit, monthly payments, or any combination.
This calculator is for educational purposes only and does not constitute a loan commitment or guarantee. Results are based on HUD PLF tables and may not reflect current market conditions. Farris Mortgage Company NMLS 1220790 | Bradley Farris NMLS 261793 | MO #12-1663-A. This material is not from HUD or FHA and has not been approved by HUD or a government agency.