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FHA HECM Calculator
FHA HECM Calculator allows homeowners to estimate how much they may be able to borrow from an FHA-insured Home Equity Conversion Mortgage (HECM). This FHA HECM reverse mortgage calculator estimates the principal limit, mortgage insurance, fees, and estimated net proceeds without requiring monthly mortgage payments. Actual HECM loan amounts depend on FHA requirements, borrower eligibility, property eligibility, interest rates, and lender calculations.
FHA HECM Mortgage Calculator
| Maximum Claim Amount | $500,000.00 |
|---|---|
| Estimated Principal Limit Factor (PLF) | 56.48% |
| Initial Principal Limit | $282,375.00 |
| Existing Mortgage Payoff | $0.00 |
| Estimated Upfront FHA Mortgage Insurance | $10,000.00 |
| Estimated Origination Fee | $6,000.00 |
| Estimated Other Fees | $5,000.00 |
| Total Estimated Fees | $21,000.00 |
| Estimated Net Proceeds | $261,375.00 |
FHA HECM Amortization Schedule
| Year | Interest Accrued | Annual FHA Mortgage Insurance | Estimated Loan Balance |
|---|---|---|---|
| 1 | $15,107.06 | $1,411.88 | $298,893.94 |
| 2 | $15,990.83 | $1,494.47 | $316,379.23 |
| 3 | $16,926.29 | $1,581.90 | $334,887.42 |
| 4 | $17,916.48 | $1,674.44 | $354,478.33 |
| 5 | $18,964.59 | $1,772.39 | $375,215.31 |
| 6 | $20,074.02 | $1,876.08 | $397,165.41 |
| 7 | $21,248.35 | $1,985.83 | $420,399.59 |
| 8 | $22,491.38 | $2,102.00 | $444,992.96 |
| 9 | $23,807.12 | $2,224.96 | $471,025.05 |
| 10 | $25,199.84 | $2,355.13 | $498,580.02 |
| 11 | $26,674.03 | $2,492.90 | $527,746.95 |
| 12 | $28,234.46 | $2,638.73 | $558,620.14 |
| 13 | $29,886.18 | $2,793.10 | $591,299.42 |
| 14 | $31,634.52 | $2,956.50 | $625,890.44 |
| 15 | $33,485.14 | $3,129.45 | $662,505.03 |
| 16 | $35,444.02 | $3,312.53 | $701,261.57 |
| 17 | $37,517.49 | $3,506.31 | $742,285.38 |
| 18 | $39,712.27 | $3,711.43 | $785,709.07 |
| 19 | $42,035.44 | $3,928.55 | $831,673.05 |
| 20 | $44,494.51 | $4,158.37 | $880,325.92 |
| 21 | $47,097.44 | $4,401.63 | $931,824.99 |
| 22 | $49,852.64 | $4,659.12 | $986,336.75 |
| 23 | $52,769.02 | $4,931.68 | $1,044,037.45 |
| 24 | $55,856.00 | $5,220.19 | $1,105,113.64 |
| 25 | $59,123.58 | $5,525.57 | $1,169,762.79 |
| 26 | $62,582.31 | $5,848.81 | $1,238,193.91 |
| 27 | $66,243.37 | $6,190.97 | $1,310,628.26 |
| 28 | $70,118.61 | $6,553.14 | $1,387,300.01 |
| 29 | $74,220.55 | $6,936.50 | $1,468,457.06 |
| 30 | $78,562.45 | $7,342.29 | $1,554,361.80 |
FHA HECM Calculator Formula
The FHA HECM Reverse Mortgage Calculator uses a simplified estimated principal-limit calculation:
FHA HECM Principal Limit = Maximum Claim Amount × Estimated Principal Limit Factor (PLF)
The estimated net proceeds formula is:
FHA HECM Estimated Net Proceeds = Initial Principal Limit − Existing Mortgage − Estimated Fees
The estimated loan balance is calculated by adding estimated interest and annual mortgage insurance to the outstanding balance over the selected loan term.
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