Reverse Mortgage Calculator

A reverse mortgage pays out against home equity and is repaid only when the home is sold, so the balance grows every month instead of falling. Enter the amount drawn, the interest rate, the annual insurance rate and a number of years, and this tool compounds the balance forward and sets it against the home value to show the equity left. The second calculation turns an amount your lender says is available into a monthly payment, either for life counted to age 100 or over a fixed term. It cannot tell you how much you qualify for, because that figure comes from the lender's principal limit table rather than from arithmetic.