HECM Reverse Mortgage Calculator For Los Angeles: See Your Options in Minutes
This tool provides educational estimates only. It won’t affect your credit and it isn’t a commitment to lend. Actual eligibility, amounts, and costs depend on a full application, property appraisal, HUD-approved counseling, and underwriting.
For Refinance & Purchase in Los Angeles
Discover How a HECM Reverse Mortgage Can Easily Provide You with a Non-Taxable Cash Flow Without Depleting Your Savings or Managed Funds
For a Purchase Calculation, in the Total Mortgage Balance Box insert 0 (zero).
Estimate your HECM options
Takes ~30 seconds. No SSN or credit check.
What affects your numbers
- Age of the youngest borrower, expected interest rate, and appraised value (subject to FHA HECM limits) primarily determine the principal limit
- Existing liens must be paid off at closing (from proceeds or other funds)
- Occupancy (primary residence), taxes/insurance/maintenance, and property type/condo approval can affect eligibility and required set-asides
- A financial assessment reviews your ability to meet ongoing obligations (taxes, homeowners insurance, upkeep)
Frequently Asked Questions – HECM Reverse Mortgage Calculator
Will this pull my credit?
No. This calculator doesn’t perform a credit check and won’t impact your score. A full application may include a credit review.
Is counseling required?
Yes. For HECM, a HUD-approved housing counseling session is required before you can proceed. It confirms understanding of costs, obligations, and alternatives.
Are reverse-mortgage funds taxable?
Reverse-mortgage advances are generally loan proceeds and not taxable as income. Individual tax outcomes vary; please consult a qualified tax professional.
Could I or my heirs owe more than the home is worth?
HECMs are non-recourse. When the loan is repaid, neither you nor your heirs will owe more than the home’s value. Heirs may keep the home by repaying the balance (or the program-specified percentage of appraised value if the balance is higher) or sell the home and keep remaining equity.
How do I use the HECM Reverse Mortgage Calculator?
Simply enter your Date of Birth, home value, current mortgage balance (enter 0 for a purchase), and ZIP code. The calculator will instantly estimate your potential HECM reverse mortgage proceeds, available line of credit, and remaining equity.
Can I use this calculator for both refinance and purchase?
Yes. If you’re refinancing, include your existing mortgage balance. For a purchase, type 0 in the “Total Mortgage Balance” field to calculate your estimated down payment and available proceeds.
Are the calculator results guaranteed?
No. The figures provided are estimates. Your actual loan amount will depend on property value, borrower age, program limits, and interest rates at the time of application.
Do I have to pay anything to use this calculator?
No. The calculator is completely free to use and designed to help homeowners in Los Angeles, CA explore HECM reverse mortgage options risk-free.
What is the difference between the HECM Adjustable and HomeSafe Standard options?
The HECM Adjustable is the FHA-insured Home Equity Conversion Mortgage, offering flexible line of credit growth. The HomeSafe Standard is a proprietary option designed for higher-value homes, allowing larger loan amounts beyond FHA limits.
Will I still own my home after getting a reverse mortgage?
Yes. You remain the homeowner and stay on title. The reverse mortgage is repaid when you sell, move, or no longer occupy the property as your primary residence.
Can I see my exact numbers before applying?
Yes. Click the “Custom Loan Quote & E-Book” button to request a personalized estimate with current rates and program options from a licensed reverse mortgage specialist.
Next step
Need help interpreting your estimate? Call (424) 225-2167 or schedule a free consultation to review your options and next steps (counseling, appraisal, and timelines).
Other areas near Los Angeles we cover include: