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Estimate Home Equity Conversion Mortgage (HECM) proceeds, payout options and long-term balance growth for homeowners 62+.
HECM proceeds = Home value × Principal Limit Factor (set by HUD based on age and rate). We subtract any existing mortgage, the upfront MIP (2% of home value), origination fee and closing costs to get your net available funds.
Three payout options share the same pool: a lump sum, a monthly tenure payment based on life expectancy, or a growing line of credit (the unused portion grows at the note rate + 0.5% MIP).
HECM borrowers must be 62 or older, occupy the home as primary residence, have significant equity, and stay current on property taxes and insurance.
Yes. You retain title. The loan is repaid when you sell, move out permanently, or pass away.
A HUD table converting age + rate into how much equity you can access. Older borrowers and lower rates produce larger limits.
Yes — heirs may pay off the loan balance (or 95% of appraised value, whichever is less) to keep the property.
They are heavily regulated and non-recourse, but the balance compounds and costs are high. They suit retirees who want to age in place, not those planning to move soon.
Results are estimates for educational purposes only and are not financial advice. Verify with a qualified professional before making decisions.
Last updated October 2026