A reverse mortgage lets a homeowner 62 or older turn their home equity — the part of the home they own outright — into cash, with no monthly mortgage payment, while keeping their name on the title.
You keep your home and you keep your name on the title. With a federally insured HECM — the most common type — you and your heirs can never owe more than the home is worth when it is sold.
Enter your age and home value for a rough estimate of what you could borrow. Nothing you type leaves your browser — no name, email, or phone needed.
Estimatehow this number is calculatedLast reviewed
These are the questions most people worry about first. Here are the plain answers.
You stay the owner. Your name stays on the title, and you can live in your home for as long as it is your main residence.
How a reverse mortgage works →You can't be removed without cause. The loan is only called due if you stop paying property taxes or insurance, or move out of the home for more than 12 months.
The downsides, named plainly →Your heirs are never stuck with a bill. If the loan ends up larger than the home is worth, your heirs owe the home's value and nothing more — the shortfall is covered by federal insurance.
What happens to your heirs →Independent counseling comes first. Before any HECM closes, a HUD-approved counselor — who is not a salesperson — walks you through the costs and the risks.
What counseling covers →We don't sell leads and we don't take payment for lender placement. Using this site asks for no name, no email, and no phone number.
Reverse-mortgage rates today: HECM is roughly 7.25%–8.25%, jumbo roughly 9.5%–10.75%. The rate sets how much you can borrow.
See current rates →A reverse mortgage works the same in every state — your state page covers what changes at closing.
All states →Next step
Both are free and neither is a sales pitch: the calculator runs in your browser, and HUD counselors are independent advisers, not lenders.
