How to Use a HECM Reverse Mortgage Calculator: A Step-by-Step Guide

For seniors looking to boost their financial security during retirement, a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, can be a great option. This loan lets homeowners aged 62 and older convert part of their home equity into cash. To figure out how much you could get from a HECM, using a reverse mortgage calculator can be super helpful. Here’s a step-by-step guide on how to use one effectively.