Free Calculator

Reverse-Mortgage (HECM) Cost Calculator

Enter home value, initial cash advance, interest rate, MIP percentages, and horizon. Estimates the ending loan balance and remaining equity assuming home appreciation.

Current home value ($)

Initial cash advance ($)

Note interest rate (%)

Upfront MIP (% of home value)

Annual MIP (%)

Origination fee ($)

Monthly servicing fee ($)

Horizon (years)

Home appreciation (%/yr)

Upfront MIP

$10000

Financed fees

$16000

Starting loan balance

$216000

Ending loan balance

$724676

Projected home value

$778984

Remaining equity

$54308

Total cost beyond advance

$524676