Reverse Mortgage Calculator
See How Much Tax-Free Cash You Can Unlock From Your Home
Use our free reverse mortgage calculator to instantly estimate your eligibility and payout, no credit check, no obligations.
Lower Costs and Fees
Single-purpose reverse mortgages often come with reduced fees and interest rates, making them more affordable for seniors on a fixed income.
Covers Vital Expenses
Easier to Qualify For
Ready to Explore Your Reverse Mortgage Options?.
With over 100,000 loans closed, C2 Financial is one of the nation’s largest and most trusted mortgage brokers. Our AI platform ensures strict compliance with HUD and FHA guidelines—protecting your investment and your future.
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Or call us at 1-800-C2-HOME to speak with a licensed reverse mortgage specialist.
Pros of a Reverse Mortgage
- No Monthly Mortgage Payments
You don’t have to make monthly payments—freeing up your budget in retirement. - Stay in Your Home
Continue living in your primary residence as long as you meet loan requirements. - Tax-Free Cash
The money you receive is typically not considered taxable income. - Flexible Payout Options
Choose a lump sum, monthly payments, a line of credit, or a combo. - Federally Insured (HECM)
Most reverse mortgages (HECMs) are backed by the FHA for added protection. - Non-Recourse Loan
You or your heirs will never owe more than the home’s market value—even if the loan balance exceeds it. - Can Improve Retirement Quality
Helps cover healthcare costs, home improvements, travel, or everyday expenses.
Cons of a Reverse Mortgage
- Reduces Home Equity
As the loan balance grows, your remaining home equity decreases. - Fees and Closing Costs Can Be High
Origination fees, FHA insurance, and servicing fees can add up quickly. - Impact on Inheritance
Heirs may receive less or need to sell the home to repay the loan. - Loan Must Be Repaid Upon Death or Move
If you move out or pass away, the loan becomes due. - You Must Maintain the Home
Failure to pay property taxes, insurance, or upkeep can lead to foreclosure. - Not Ideal for Short-Term Stays
If you plan to move soon, the upfront costs may not be worth it. - Affects Need-Based Benefits
Receiving large payouts could impact eligibility for Medicaid or Supplemental Security Income (SSI).
Start Your Reverse Mortgage Journey Today!
Unlock Home Equity with Trusted Experts
We offer clear, personalized guidance to help you make informed decisions and enjoy a more secure retirement.
State License#: CL-135622 | MB135622
NML#: 135622
Branch#: 135622
Office: 12230 El Camino Real, Suite 100
San Diego, CA 92130
Reverse Mortgage Frequently Asked Questions
2. Am I eligible for a reverse mortgage?
To qualify, you must be:
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62 years or older
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Own your home or have substantial equity
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Live in the home as your primary residence
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Able to maintain the home and keep up with property taxes and insurance
Eligibility may vary slightly between HECM reverse mortgages (FHA-backed) and proprietary reverse mortgages.
3. How does a reverse mortgage work?
Once approved, a reverse mortgage allows you to receive cash payments, a lump sum, or a line of credit using the equity in your home. You continue living in your property, and the loan is repaid when you move, sell the home, or pass away.
4. How much money can I get from a reverse mortgage?
The amount depends on your:
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Age
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Home’s value
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Current interest rates
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Type of reverse mortgage
Homeowners often qualify for higher payouts due to higher property values.
The main types include:
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HECM (Home Equity Conversion Mortgage) – backed by the FHA
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Proprietary Reverse Mortgages – private “jumbo” loans for high-value homes
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Single-Purpose Reverse Mortgages – offered by nonprofits or local programs for specific uses like home repairs or property taxes
In addition to age and residency, you’ll need to:
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Complete HUD-approved counseling
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Pass a financial assessment
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Live in an eligible property type (single-family, condo, or certain manufactured homes)
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Maintain the property and stay current on taxes and insurance
7. Do I still own my home with a reverse mortgage?
Yes! With a reverse mortgage, you retain ownership of your home. You’re simply using your equity to fund your retirement, while continuing to live there.
8. Is a reverse mortgage a good idea for seniors?
For many retirees, a reverse mortgage is a smart way to access tax-free funds, especially with high property values and rising living costs. It’s ideal for those who want to age in place while boosting retirement income.
When you pass away, your heirs can:
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Sell the home to repay the loan and keep the remaining equity
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Refinance the reverse mortgage
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Walk away if the home is worth less than the loan balance (thanks to non-recourse protection)
10. How do I apply for a reverse mortgage?
Start by contacting a licensed reverse mortgage specialist. They’ll walk you through a free consultation, eligibility review, and the application process, including home appraisal, counseling, and closing.
SERVICES
CONTACT
NML#: 135622
Branch#: 135622
Office: 12230 El Camino Real, Suite 100
San Diego, CA 92130
Consumers in Texas: Consumers wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department's website at www.sml.texas.gov. A toll-free consumer hotline is available at (877) 276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department's website at www.sml.texas.gov