Reverse Mortgage Calculator - WikiBudget – Simple Tools for Smarter Money

Principal Limit (PL)

Net Principal Limit

Max Initial Draw

Monthly Payment (Term/Tenure)

Progress

0 of 4 required fields complete

❌ Age (62+ for HECM)

❌ Home Value

❌ Annual Property Tax

❌ Annual Homeowners Insurance

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Inputs

Borrower Age HECM eligibility requires 62+. Below 62 triggers What-If mode. Age is required.

Home Value ($) Home value is required.

Existing Mortgage Balance(s) ($) Mandatory obligations deducted from available proceeds.

Program

Rate Type

Expected Interest Rate (EIR, %) Used for PLF lookup; not necessarily your note rate.

Note Rate (%, APR)

Disbursement Option

Annual Property Tax — required

Use your tax bill or escrow. Irregular? Choose Custom (e.g., $1200 × 4 for quarterly). We’ll annualize in place. Annualized: $0 Annual property tax is required.

Annual Homeowners Insurance — required

Use your policy declarations or escrow. Supports irregular payments. Annualized: $0 Annual homeowners insurance is required.

Monthly HOA ($) — optional HOA is only required if you include it in set-aside calculations.

Include HOA in set-aside (makes HOA required)

Scenarios

Scenarios are kept only in this browser. They include inputs and the 120-month projection.

Compare two scenarios

Charts below will overlay the two choices.

Charts

Loan Balance vs. Non-recourse Cap

Home Value & LOC Availability

Results

Summary

Notes

Non-recourse: You (or heirs) never owe more than the home value when due.
Paying taxes/insurance is required; missing payments can cause default.
All estimates are educational; confirm with a HUD-approved counselor.

Amortization (first 120 months)

Table is generated client-side. CSV export includes full modeled horizon.

Month	Type	Start Balance	Interest	MIP	Draw/Payment	End Balance	Home Value	Nonrecourse Cap	LOC Avail