Mortgage Payoff Savings Calculator
See how much monthly cash flow you’d free up by eliminating your existing mortgage payment with a reverse mortgage.
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If you still carry a mortgage in retirement, that payment may be your largest fixed expense. A reverse mortgage can pay off the balance, removing the required monthly payment and freeing cash for living, care, or savings.
The paid-off balance moves to the reverse mortgage, where interest accrues. You still pay taxes, insurance, and upkeep.
Frequently asked questions
Can a reverse mortgage pay off my mortgage?
Yes — paying off any existing mortgage is typically required, which removes the monthly payment.
Truly no payment after that?
No required mortgage payment, but you still pay taxes, insurance, and maintain the home.
Does it really help cash flow?
For many retirees, removing the mortgage payment is the single biggest monthly improvement.
What this calculates
Estimates monthly and lifetime cash-flow impact of paying off your current mortgage.
Assumptions & methodology
- Does not include taxes and insurance, which continue.
- Results are estimates based on the figures you enter and simplified assumptions.
- Taxes, fees, rates and individual circumstances can change real outcomes.
Important: These tools provide educational estimates only. They are not a loan offer, pre-approval, or financial advice, and results never mean you are approved for any product. Eligibility and terms are determined by a lender after a full application. Consider speaking with a HUD-approved counselor or financial professional.
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