Reverse mortgage calculator
Reverse Mortgage Calculator
Curious how much tax-free cash you could unlock from your home without selling, moving, or making monthly mortgage payments? Use the free calculator below to estimate the funds you may be able to access — and to see how your home equity could change over time. It takes seconds, and there's no obligation.
Here's What Happens to Your Equity
Adjust the sliders below to see how your equity can change over time.
Need more than this estimate?In some situations we can structure additional financing to unlock more of your equity — contact us to see if it fits your situation.
Your 15-Year Forecast
In 15 years, your home is projected to be worth $1,935,282 (at 4.5% growth). Even with the growing loan balance, you would still have$1,274,104in remaining equity!
*Disclaimer: These projections are for illustration purposes only and should not be considered financial advice. Projections assume 4.5% annual appreciation and 6.59% interest rate. Actual results may vary based on market conditions and individual circumstances.
Your 15-Year Forecast
In 15 years, your home is projected to be worth $1,935,282 (at 4.5% growth). Even with the growing loan balance, you would still have$1,274,104in remaining equity!
How to use this reverse mortgage calculator
Just enter your home's estimated value, the age of the youngest homeowner, and how much cash you're interested in accessing. The calculator instantly estimates the funds you may qualify for and charts how your home value and loan balance could grow side-by-side over the years — so you can see, at a glance, roughly how much equity you'd expect to keep.
How much can you borrow with a reverse mortgage?
In Canada, the amount you can access is based mainly on your age and your home equity — not your income or credit score. The older you are, the larger the percentage of your home's value you can typically unlock. Because approval rests on age and equity, many homeowners who've been turned down for a traditional loan still qualify. Canada's reverse mortgages come from federally regulated lenders such as HomeEquity Bank (CHIP), Equitable Bank, Home Trust, and Bloom.
What happens to your home equity over time
Because you make no required monthly mortgage payments, interest is added to the balance and compounds over time. But that's only half the picture: your home also continues to appreciate, which often offsets much — sometimes most — of that interest. In practice, Canadian reverse mortgage borrowers keep around half of their home's equity on average, even after many years, and many keep more. A No Negative Equity Guarantee also means you, or your estate, will never owe more than your home's fair market value when it's sold — as long as you keep up your property taxes, home insurance, and upkeep, and live there as your primary residence. The chart in the calculator above is designed to show you exactly this trade-off for your own numbers.
Is this an exact quote?
No — the calculator is for illustration only. It uses typical appreciation and interest-rate assumptions to give you a realistic ballpark. Your actual figures depend on your age, your chosen lender, the current rate, and your home's appraised value. The best next step is a free, no-obligation estimate: a licensed broker reviews your situation, compares lenders, and gives you clear numbers — with no pressure, and an honest answer on whether a reverse mortgage is even the right fit for you.
Frequently asked questions
How much can I get from a reverse mortgage in Canada?
It depends mainly on your age, your home's value, and where you live — not your income or credit. The amount you can access rises with age: a younger borrower (55) typically qualifies for a smaller percentage of their home's value, while older homeowners can access more — often up to around half of the home's value, and more at older ages. Use the calculator above for a quick illustration, then get a free personalized estimate for your exact numbers.
Is this reverse mortgage calculator accurate?
It's a solid illustration, not a formal quote. It estimates your available funds and projects your equity using typical appreciation and interest-rate assumptions. Your real numbers depend on your age, the lender, the current rate, and your home's appraised value — which is exactly what a free, no-obligation estimate works out for you.
Do I qualify for a reverse mortgage?
In Canada, a reverse mortgage is generally available to homeowners aged 55 or older on the home you live in as your primary residence. Approval is based on age and home equity rather than income or credit score, so many homeowners who have been declined elsewhere still qualify.
Are there monthly payments with a reverse mortgage?
There are no required monthly mortgage payments — that is the main appeal. You do still keep up your property taxes, home insurance, and reasonable upkeep (the same responsibilities you have with any mortgage), and you continue to live in the home as your primary residence.
Will a reverse mortgage use up all my home equity?
Not necessarily. Interest is added to the balance and compounds, but your home also keeps appreciating, which often offsets much of it. Canadian borrowers keep around half of their home's equity on average, even after many years, and many keep more. A “No Negative Equity Guarantee” also means you (or your estate) will never owe more than the home's fair market value at sale, as long as you meet the homeowner obligations.
See your real numbers
The calculator is a great starting point. For a precise figure based on your situation — and a clear look at your options — get your free, no-obligation estimate. It takes about 90 seconds.
No cost · No obligation · No credit check