How Much Can I Borrow On A Reverse Mortgage?

How Much Can I Borrow On A Reverse Mortgage?

How Much Can I Borrow On A Reverse Mortgage?

A question we get commonly on reverse mortgages, and that is how much money can I get on the reverse mortgage?

The basic bottom line way to think about it is, it’s very low loan to value ratio, so the total loan amount versus the value of your property.

The reason why is because the way the reverse mortgage works is the interest each month from your loan is added to the loan balance. The lender wants to make sure there’s plenty of equity there to account for that increasing loan balance over the months and years.

That being said, the maximum amount is dependent on a few factors. One of those is the age of the youngest spouse, if it’s a couple applying, or of your age if you’re an individual applying for the reverse mortgage. Also, they take into account your home value when calculating how much you can borrow. They also look at what the reverse mortgage lending limit is, which currently is 970,800 as of 2022. The other factor that’s a big deal is what interest rates are. So as interest rates go up, you can borrow less on the reverse mortgage because that affects how much interest is paid.

These are the factors that are involved but to really know exactly what you can borrow, you need to talk to a reverse mortgage expert. They can help calculate that out for you because it’s unique to every situation. It’s specific to those things that I just mentioned.

I’d be happy to talk to you about that. If you want to give me a call, happy to answer your questions. 303-670-0137 or


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