Reverse Mortgage Monthly Payment Calculator



Reverse mortgages can be complex, and calculating monthly payments can be a daunting task. To simplify this process, we present a Reverse Mortgage Monthly Payment Calculator. This article will guide you through the usage, the underlying formula, provide examples, answer frequently asked questions (FAQs), and conclude with a concise summary.

How to Use

  1. Input the principal loan amount.
  2. Enter the annual interest rate.
  3. Specify the loan term in years.
  4. Click the “Calculate” button to get the monthly payment.


The reverse mortgage monthly payment is calculated using the following formula:


  • is the monthly payment.
  • is the principal loan amount.
  • is the monthly interest rate (annual rate divided by 12 and converted to decimal).
  • is the total number of payments (loan term in years multiplied by 12).


Let’s assume a principal loan amount () of $200,000, an annual interest rate of 5%, and a loan term of 15 years. Plugging these values into the formula:

After substituting these values, you can use the calculator to find the monthly payment.


Q1: Is the calculator accurate for all reverse mortgages?

A1: This calculator provides a general estimate. Actual payments may vary based on specific terms and conditions.

Q2: What is the significance of the loan term?

A2: The loan term (in years) determines the total number of payments and significantly influences the monthly payment amount.

Q3: How frequently should I recalculate my monthly payment?

A3: Recalculate whenever there is a change in the loan terms or interest rates for accurate results.


The Reverse Mortgage Monthly Payment Calculator simplifies the process of estimating monthly payments, offering valuable insights for better financial planning. Understanding the formula and utilizing this tool empowers individuals considering or already engaged in reverse mortgages.

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