Introduction: The Top Reverse Payment Calculator and Reverse Mortgage Loan Calculator

Many people who have spent their whole lives building up equity in their homes feel like they deserve a way to enjoy that equity.

Taking out a 30-year mortgage and faithfully making your monthly payments over the course of almost your entire working career is no easy feat. A reverse mortgage amortization calculator is a simple tool that will help you find out how the equity in your home can be paid back to you during the later years in life.

Best Reverse Mortgage Calculators

Award Emblem: Best Reverse Mortgage Calculators

In this brief article, AdvisoryHQ will explain what a reverse loan calculator or reverse interest calculator is. Next, we offer a comparative table that shows the top features of the six top reverse mortgage calculators to be found on the web.

In our FAQ section we compare the uses of an HECM calculator versus an FHA reverse mortgage calculator. We also offer information on what features appear in the best reverse mortgage purchase calculator or reverse mortgage payment calculator. Finally, we offer a complete review of six of the top reverse mortgage calculators with monthly payment options.

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What Is a Reverse Loan Calculator or Reverse Interest Calculator?

A reverse loan calculator or reverse interest calculator is an online tool that can help you discover how a reverse mortgage loan can best work for you. For people who are over the age of 62, nearing retirement, and have completely paid off their home, a reverse mortgage allows them to tap the equity built up in their home while still being able to live in it.

For many people, the equity in their homes is their largest chunk of savings, often more than what they have in their retirement fund. With a reverse mortgage loan, the bank effectively pays you for the equity built up in your home, and you don’t have to pay off that loan until you move out of the home or you pass away. A reverse mortgage calculator will help you calculate how much you stand to make on a monthly payment scheme through this type of loan.

Reverse Mortgage Calculator

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There are a number of different reverse mortgage calculators out there, all with different functions. While one reverse payment calculator may very well calculate the monthly payment you would receive from the bank for your reverse mortgage, another reverse mortgage loan calculator might calculate how much equity will still be left in your home after a certain number of years of drawing payments.

While many people plan to leave their homes (and the equity in them) to their children and heirs, a reverse mortgage amortization calculator can help you determine how much you should draw monthly for a determined number of years to be able to still leave a healthy sum of money in equity for your children.

Let’s say, for example, that your home is worth $500,000. With a reverse mortgage calculator or reverse payment calculator, you can determine how much to draw each month, or how many years to draw payments from the bank, in order to still leave $250,000 in home equity to your heirs.

AdvisoryHQ’s List of the Top 6 Best Reverse Mortgage Calculator

List is sorted alphabetically (click any of the top reverse mortgage amortization calculator names below to go directly to the detailed review section for that calculator):

Top 6 Best Reverse Mortgage Loan Calculator | Brief Comparison

Reverse Mortgage Payment Calculators

Allows You to Include Spouse

Search by Zip Code

Includes Instructions or Definitions

All Reverse Mortgage Company




HomEquity Bank








One Reverse Mortgage




Reverse Mortgage Alert








Table: Top 6 Reverse Mortgage Calculators | Above list is sorted alphabetically

The HECM Calculator and the FHA Reverse Mortgage Calculator

Many seniors who are interested in taking out a reverse mortgage often get confused when lenders begin talking about home equity conversion mortgages and FHA reverse mortgages. In this section, we will clear up the confusion behind these acronyms.

After spending decades paying off their home, nobody wants to be swindled out of the equity that their hard work and financial dedication and responsibility have created. A home equity conversion mortgage (HECM) is the only reverse mortgage that is regulated by the U.S. Department of Housing and Urban Development. Likewise, a HECM calculator will help you calculate your potential payment or remaining equity in these types of loans.

An FHA reverse mortgage calculator has specific functions that will make sure that all calculations are done according to the FHA standards. Home equity conversion mortgages can only be offered through FHA approved lenders, and an FHA reverse mortgage calculator will be up-to-date on the conditions offered by those lenders.

You can search for reverse mortgage lenders who may offer their own reverse mortgage purchase calculator or reverse mortgage payment calculator on the U.S. Department of Housing and Urban Development’s website here.

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What to Look for in the Top Reverse Mortgage Purchase Calculator or Reverse Mortgage Calculator with Monthly Payment Options

If you and your spouse think that your retirement years could be a little more special if you could access the equity in your home, then a reverse mortgage might be a good option for you. If you also want to make sure that you don’t spend all of your built up equity in the first decade of your retirement, a reverse mortgage calculator or a reverse mortgage loan calculator will help you stay on budget.

When searching for the best reverse mortgage loan calculator or reverse payment calculator, there are a number of features you should look for. If you co-own the home with a spouse or other family member, you will want to find a reverse mortgage calculator that lets you input information for the co-owner of the home.

Furthermore, you will need to know beforehand what you want to use the reverse mortgage calculator for. If you simply want to find out how much you could receive each month from the bank, a reverse mortgage calculator with monthly payment information should be enough. However, if you also want to see where the equity in your home will stand after 10 years of drawing payments, you will need to find a reverse mortgage calculator or reverse payment calculator that offers information on future balances. 

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Detailed Review – Top Ranking Best Reverse Payment Calculator

Below, please find the detailed review of each of the reverse mortgage calculators. We have highlighted some of the factors that allowed each reverse loan calculator to score so highly in our selection ranking.

All Reverse Mortgage Company Review

The All Reverse Mortgage Company offers a quality reverse mortgage calculator. This free online reverse payment calculator allows you to quickly and efficiently calculate which reverse mortgage option is best for you. With this reverse mortgage loan calculator, you can choose to input your spouse’s information or not, depending on your unique situation.

Another feature of this reverse mortgage calculator is that they offer you several reverse mortgage options. Furthermore, according to their website: “Once you request an application we lock in your expected rate which guarantees you access to the current principle limit even if rates should rise.”

Reverse Payment Calculator

Image Source: All Reverse Mortgage Company

Related: Finding the Best Home Loan Calculators | Top Home Mortgage & Home Equity Calculators

Mortgagecalculator.org Review

The mortgagecalculator.org reverse payment calculator is another quality option for people looking for information on how their home equity balance will change over the years. With this reverse interest calculator, you can see how compounding interest can be used to help make your outstanding balance grow over time. The only negative aspect of this reverse mortgage loan calculator is that you can’t add a spouse to the calculations.

One Reverse Mortgage Review

Another quality reverse mortgage purchase calculator is offered by One Reverse Mortgage Company. This quality reverse mortgage calculator is connected with Quicken Loans and allows you to research the conditions for a reverse mortgage even if you have an outstanding balance on your current home mortgage.

This reverse payment calculator also offers more complete information after you calculate your possible earnings through a form that you can fill out to receive a complete offer from this lending company.

HomEquity Bank Review

The HomEquity Bank reverse mortgage calculator is the only reverse payment calculator reviewed here that is specifically designed for Canadian homeowners. This reverse mortgage loan calculator also allows you to factor in a second homeowner, which could be your spouse, business partner, etc. If you are sold on the idea of taking out a reverse mortgage with this Bank, they also offer a free guide here.

HomEquity Bnk Reverse Mortgage Loan Calculator

Image Source: HomEquity Bank

Reverse Mortgage Alert Review

The Reverse Mortgage Alert reverse mortgage loan calculator is another quality online tool to help you calculate the terms and conditions on your reverse mortgage loan. This reverse payment calculator allows you to get an estimate of how much you’re eligible for through a reverse mortgage loan.

This reverse mortgage calculator will offer you information regarding the estimated funds available, the estimated funds at closing, the estimated closing costs, the estimated origination fee, and the estimated upfront mortgage insurance.

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Reversemortgage.org Review

Lastly, the reversemortgage.org reverse payment calculator is a quality option that is presented by the National Reverse Mortgage Lenders Association. Besides the basic information that all reverse mortgage calculators ask for, this reverse mortgage amortization calculator also allows you to input optional information including:

  • Mortgages and liens on your home
  • Monthly payments on your mortgages
  • Other upfront cash you desire
  • Estimate any necessary home repairs
  • Your desired line-of-credit

This reverse mortgage payment calculator is one of the most complete options online for people who are serious about taking out a reverse mortgage loan.

Reversemortgage Reverse Loan Calculator

Image Source: Reversemortgage.org

Conclusion – The Best Reverse Payment Calculator and Reverse Mortgage Loan Calculator for Your Financial Future

After a lifetime of hard work, you deserve a retirement that will allow you to thoroughly enjoy your last years. If you have significant equity built up in your home, a reverse mortgage might be the best option for you. In order to budget correctly, a reverse mortgage calculator or reverse mortgage loan calculator is a great tool to help you best manage your retirement savings through your home equity.

There are a number of reverse mortgage calculators on the web, and the best one for you will largely depend on how you plan to manage your reverse mortgage. A reverse payment calculator will help you find out how much you can make each month, while a reverse mortgage loan calculator might help you plan for the future.

Whether you choose the All Reverse Mortgage Company reverse mortgage calculator, the Mortgagecalculator.org reverse payment calculator, the One Reverse Mortgage reverse mortgage loan calculator, the HomEquity Bank reverse mortgage calculator, the Reverse Mortgage Alert reverse payment calculator, or the Reversemortgage.org reverse mortgage loan calculator, you will be well on your way to better managing your retirement finances.

Read More: Best Mortgage Payment Calculators | Tips to Find Top Calculators to Estimate & Calculate Mortgage Payments

AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.