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Download Your Own Excel Reverse Mortgage Calculator (for Free!)

Updated and current based on the latest FHA lending limit and principal limit factor tables. 
Download Excel Reverse Mortgage Calculator
Quickly and easily estimate how much you may get from a reverse mortgage.
  • Fast and simple to use. Get results in just seconds.
  • Calculate multiple payout options, including lump sum, line of credit, and monthly term/tenure income plans.
  • Compare products, including the variable-rate and fixed-rate.
  • Estimate your down payment for a purchase reverse mortgage.
  • View an amortization schedule that shows how your loan balance, line of credit, and home equity could change over time.

Enter your email address below and click the 'Download' button.

We hate spam as much as you do! We won't give your email address to anybody else. We'll send you updates from time to time, but you can unsubscribe at any time. The downloadable reverse mortgage calculator requires Microsoft Excel 97 or later.

How To Use The Calculator

IMPORTANT: To get accurate calculations, you’ll need to update the interest rates on the calculator once you’ve downloaded it (see Step 1 below). Once you’ve downloaded and opened the Excel file, you’ll see a section to enter the current swap and index rates, which can be found on our interest rates page (the link to the rates page is in the calculator). Click the plus icons to expand each section below.

Step 1: Update the interest rates

Calculator Step 1.

Click the hyperlink in the calculator to go to our rates page and obtain the latest swap and index rates. The current swap and index rates are important for accurate calculations, so you’ll want to update them after you’ve downloaded the Excel reverse mortgage calculator and anytime you want to use it in the future. Simply type the rates from the interest rates page into the corresponding fields in the calculator (see below).

Step 2: Select the HECM program to calculate

Calculator Step 2.

A reverse mortgage offers multiple payout options, including lump sum, line of credit, and term/tenure monthly income plans. A reverse mortgage comes with either a variable or fixed interest rate and can even be used to purchase a home. In other words, there are a variety of payout and program options available to you. Select which program you would like to calculate using the drop down box just below where you entered the swap and index rates.

Step 3: Enter the calculation parameters

Calculator Step 3.

In the area below where you selected the HECM program, enter your age (or that of the youngest borrower), home value, mortgage balance, principal and interest payment, and the years left on your mortgage. If your home is free and clear, enter a zero for everything except your age and home value. Once you’ve entered all of the appropriate calculation parameters, the calculation results will appear on the right side of the spreadsheet.

Step 4Click the tab at the bottom left for the amortization schedule

Calculator Step 4.

To see how the loan could amortize in the future, simply click the “Amortization” tab at the bottom left of the spreadsheet. The calculation will display how your loan balance, available line of credit (if applicable) and home equity could change over time.

Step 5Adjust the home appreciation rate as desired

Calculator Step 5.

You can change the assumed home appreciation by clicking the yellow dropdown on the upper right of the amortization page. This will enable you to see how various home appreciation rates could impact your home equity in the future.

Get your free calculator now! Enter your email address below and click the 'Download' button. 

We hate spam as much as you do! We won't give your email address to anybody else. We'll send you updates from time to time, but you can unsubscribe at any time. The downloadable reverse mortgage calculator requires Microsoft Excel 97 or later.