Using a reverse mortgage calculator for the first time can feel a little intimidating but it doesn’t have to be. Here’s a simple, human-friendly guide to walk you through it. By the end, you’ll better understand how estimates are formed, what really matters, and what to watch out for. 1. Use a Free Reverse Mortgage Calculator (While Many Companies Charge) Many companies charge a fee to use their reverse mortgage calculators, but at Penny Lane Reverse, ours is completely free