Updated and current based on the latest FHA lending limit and principal limit factor tables.
##### Quickly and easily estimate reverse mortgage proceeds with this free Excel reverse mortgage calculator.
• 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, fixed-rate, reverse mortgage for purchase.
• View an amortization schedule that shows how your loan balance, line of credit, and home equity could change over time.

"I started MyHECM.com to help seniors, their families, and their advisors get the information and resources they need to make an informed decision about a reverse mortgage." - Mike Roberts, Founder of MyHECM.com

### How To Use The Calculator

IMPORTANT: To get accurate calculations, you’ll need to update the interest rates on the Excel reverse mortgage calculator once you’ve downloaded it (see Step 1 below). Once you’ve downloaded and opened the Excel reverse mortgage calculator, 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

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

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

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 the appropriate parameters into the Excel reverse mortgage calculator, the results will appear on the right side of the screen.

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

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

#### Step 5: Adjust the home appreciation rate as desired

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.

We hope you find our Excel reverse mortgage calculator helpful!