Reverse Mortgage
Calculator — how much
could you access?
Estimate the tax-free equity you could unlock at 55+, with no monthly payments required — then talk to an advisor who models every alternative.
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Reverse mortgage calculator.
A reverse mortgage lets homeowners 55+ access up to about 55% of their home's value, tax-free, with no monthly payments. It is repaid when you sell or move out.
Your numbers
Cash estimate is before setup and legal fees. Growth assumes semi-annual compounding; your lender's contract governs.
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Your inputs and results in one page you can keep.
Read the full explanationThe rules behind the numbers, with worked examples.
Is a reverse mortgage right for you?
A reverse mortgage solves a specific problem: you’re 55 or older, most of your wealth is in your home, and you want to stay there while freeing up cash — without the monthly payment a regular mortgage or HELOC demands. You can take the money as a lump sum or in instalments, it’s tax-free, it doesn’t claw back OAS or GIS, and you keep title to your home.
Why the amount rises with your age
The percentage of your home’s value you can access increases with age — from roughly 15-20% in your mid-fifties toward the ~55% ceiling at 80-plus (illustrative; lenders do not publish fixed age tables). The reason is the lender’s timeline: an older borrower’s loan is expected to run fewer years before it’s repaid (on sale or in the estate), so less interest compounds before then, and the lender can safely advance more today. It’s based on age, home value and type, and location — not on your income or credit, because there are no payments to qualify for.
A worked example: a $900,000 home at 70
On a $900,000 home, this calculator’s illustrative curve gives a 70-year-old about 40% — roughly $360,000 tax-free (actual lender offers vary and are often lower). There’s no monthly payment; instead, interest accrues onto the balance. At an assumed reverse-mortgage rate of about 5-7% (illustrative, not a quote), that balance roughly doubles in about 10-14 years if nothing is repaid — so the equity left to the estate shrinks over time. That can be entirely the right trade (the home is there to fund retirement), but it’s the number to understand going in. Voluntary payments can slow or stop the compounding whenever you choose.
The honest comparison
Reverse-mortgage rates sit above regular mortgage and HELOC rates, and because no payments are made, interest compounds and erodes the equity left to your estate. So it deserves a side-by-side. If you can comfortably service a payment, a HELOC or a refinance is usually cheaper; if staying in the home isn’t essential, downsizing frees more equity with no interest at all. The reverse mortgage wins when staying put with zero payments is the priority. As an FSRA-licensed brokerage we disclose in writing how we are paid on each product, so we model every option and recommend a reverse mortgage only when it genuinely comes out ahead — see the full reverse mortgage guide.
How to use this calculator
- Enter your age and home valueBoth homeowners on title must be 55 or older. Slide the home value to your best estimate — the tool uses a simplified age-based curve to show how much equity you may be able to access, tax-free.
- Review your estimateSee the estimated tax-free cash after paying out any existing mortgage, plus how the balance would grow over 10 years with no payments. This is illustrative — actual lender offers (CHIP, Equitable Bank) vary by age, home type, and location.
- Talk to an advisorWe compare reverse mortgages against HELOCs, refinances, and downsizing side by side and only recommend one when it genuinely comes out ahead for your situation. As an FSRA-licensed brokerage, every fee is disclosed in writing.
How this is calculated
How much can I get from a reverse mortgage in Canada?
Do I make any payments on a reverse mortgage?
Will I still own my home?
What's the catch — what does it cost?
Am I eligible for a reverse mortgage?
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