How Much Can I Get from a Reverse Mortgage?
Estimated Amounts by Age and Home Value

The amount depends on three factors: your age (older = more), your home value (up to the $1,249,125 FHA limit), and current interest rates (lower = more). As a general rule, borrowers can access roughly 40-75% of their home's value, with the percentage increasing with age. A 72-year-old with a $500,000 home might access around $210,000-$240,000 at typical 2026 rates.

At typical current expected rates (around 6-7%), a 65-year-old might qualify for roughly 35-43% of their home's appraised value. On a $400,000 home, that's approximately $140,000-$172,000 in gross principal limit before closing costs. The exact amount depends on the expected interest rate at the time of application.

Not quite. Your gross principal limit is reduced by mandatory closing costs: the upfront mortgage insurance premium (2% of home value), origination fee (up to $6,000), and standard closing costs (title, appraisal, etc.). Most of these can be financed from your proceeds. If you have an existing mortgage, that must be paid off first from your HECM proceeds.

If you chose a line of credit or tenure payment option (adjustable-rate HECM), yes — you can draw additional funds over time up to your available credit limit. Better yet, with the line of credit option, your unused balance grows each year, so you may actually have more available later than you did at closing.

Yes, home value is one of the three primary factors. However, there's a ceiling: the FHA lending limit of $1,249,125 (as of 2025). If your home is worth more than this, the HECM calculation only uses the limit amount — though proprietary (non-FHA) reverse mortgages can go higher for high-value homes.

Age works in your favor — the older you are, the higher your principal limit factor. However, waiting also means missing out on potential credit line growth and years of benefit. Many financial planners suggest that if you need the tool now, establishing it earlier (even for the growing line of credit alone) can be more valuable than waiting for a slightly higher PLF.