Not quite at the age yet (I'm 58) but helping my parents run the numbers. The "gross vs net" framing here is exactly what my mom was getting tripped up on — she thought the calculator was telling her she could cash out the full number. Walked her through Jon's upfront-cost breakdown and the 24-hour formal illustration is the next step we're taking. The calculator is useful as a first filter but the real document is the GFE.

Sophomore research assistant — I benchmarked the HCP reverse mortgage calculator against three industry calculators (AAG, Longbridge, Finance of America) using the same test profile (age 73, $625k home, standard MSA). Gross principal limits came back within 2% across all four, which matches Jon's point that they're all computing off the same FHA PLF table. The real differentiation is in how clearly each one shows the net-available figure after costs. HCP's is one of the cleaner ones on that front from the data I pulled.

Ran the reverse calculator myself last week as part of my intern onboarding (Jon had us go through every tool on the site so we could explain them on social). The net-vs-gross distinction is exactly the thing I'm building a 60-second Reel around because it's where borrowers get confused. If I'd walked in expecting the gross number as cash, I'd have felt misled too. Jon's point about asking for the formal illustration is something I'm adding as the CTA on every HECM calculator post.

I ran the calculator before our appointment with Jon and the $285k figure Jon references was within a couple thousand dollars of what the formal illustration actually produced on our $620k home. So I'd say it's legitimate — not marketing fluff.

That said, Jon's point about gross vs net is the one that tripped me up. I went into the meeting thinking "$285k cash." The reality on our file: about $24k in upfront costs (MIP was the big one at roughly $12k, then origination, title, appraisal, counseling). None of it came out of pocket — it all rolled into the loan balance — but it meant my available line was closer to $258k, not $285k. Not a dealbreaker, just a recalibration.

One thing I'd add for anyone else running the calculator: if you have any existing mortgage, make sure you're entering the payoff amount. A HECM has to sit in first lien position, so any current loan has to be satisfied at closing. Our neighbor had a $65k HELOC she forgot about and was shocked when her available proceeds came back that much lower.

The formal illustration Jon can run is worth the 24-hour wait. I'd trust that one over any web calculator.