Free — no personal information needed
Reverse Mortgage Calculator (Canada)
This free reverse mortgage calculator shows how much tax-free cash you could get from your home. It also shows what happens to your home equity over the 15 years that follow. It is built for Canadian homeowners 55 and older. Enter your home's value, your age, and how much cash you want, and your results appear on screen instantly. No name, no email, no phone number.
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.
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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$1,288,355in remaining equity!
*Disclaimer: These projections are for illustration purposes only and should not be considered financial advice. Projections assume 4.5% annual appreciation and 6.44% 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$1,288,355in remaining equity!
How does this reverse mortgage calculator work?
The calculator asks for three things: your home's estimated value, the age of the youngest homeowner, and how much cash you want. From your age, it applies the highest percentage of your home's value that Canadian lenders publish. That percentage rises with age, up to 60% at the top end. And the top tier is not one lender's exclusive — CHIP Max from HomeEquity Bank, Flex Plus from Equitable Bank, and EquityAccess from Home Trust all reach it.
The chart then projects the next 15 years, using a typical home-price growth rate and a typical interest rate (both shown under the chart). It plots your home's value and the loan balance side by side, so you can see the remaining equity for any year. Hover or tap any point on the chart to check a specific year. If reverse mortgages are new to you, start with what a reverse mortgage is. In short, it is a mortgage with no required monthly mortgage payments — it pays off any mortgage you still have, and it gives you the rest as tax-free cash.
How much can you get at each age?
The percentage is based on the age of the youngest homeowner, and it rises with every year. At 55 you can qualify for up to about 46% of your home's value. By 65 that grows to about 51%, and by 70 to about 53%. From the late 70s on, the maximum reaches 60% — the top tier in the Canadian market. For the year-by-year numbers, worked dollar examples, and what moves your amount inside that range, read how much you can get by age.
Can you use a reverse mortgage calculator with no personal information?
Yes — this one asks for none. No name, no email, no phone number, and no postal code. The three inputs (home value, age, and the cash amount you want) identify nobody. The results show on screen instantly, with nothing to unlock and no follow-up calls. Many reverse mortgage calculators in Canada, especially the ones lenders run, ask for your contact details before they show you a number. It is reasonable to want the number first and the conversation later — that is how this page works. When you do want a real number on your actual file, the free estimate is there as a separate step you choose. It takes about 90 seconds.
Why is your result a range, not a quote?
The calculator shows the most generous percentages lenders publish for each age. Your real offer comes from a specific lender reviewing your actual file. Your age, your home's value, your location, and your property type all move the final number — and each lender weighs them differently. The same homeowner can qualify for different amounts at different lenders.
Finding the best of those offers is the step a licensed broker does for you at no cost — a broker is paid by the lender you choose, never by you. That means comparing every reverse mortgage lender in Canada: HomeEquity Bank, Equitable Bank, Home Trust, and Bloom. The broker then comes back with the real number, the real rate, and the lender that fits your situation. The complete Ontario guide walks through how that process works from start to finish, and what the set-up actually costs — every fee, itemized — is in reverse mortgage fees in Canada.
What happens to your monthly payments?
The calculator above shows what you could unlock and how the balance moves over the years. This second tool shows the month-to-month side. Enter what you owe — a mortgage, any loans, any credit card balances — and it works out what the minimum payments cost you every month now, then what your month looks like after a reverse mortgage clears everything at closing. There are no required monthly mortgage payments afterward, so the difference is the room that comes back into your budget.
The two tools work together: the age, home value, and amounts you enter below carry over to the calculator above automatically.
Your situation today
About your home
Your mortgage
Loans (car, personal)
Credit balances
Payments fill in automatically — change them if yours are different.
Before — required every month
After — required every month
Property taxes, home insurance, and upkeep stay yours — the same as with any mortgage.
Monthly payments freed up
$1,656/month
Borrowing only what the plan needs — not the maximum — keeps your options open later.
Estimates for illustration only. The estimated credit payments use the Bank of Canada prime rate of 4.45% (as of July 29, 2026): home equity line at prime + 0.50% (4.95%), line of credit at prime + 7% (11.45%), and credit cards at prime + 16% (20.45%), all as interest-only minimums — adjust any payment to match your real one. Mortgage and loan payments are the amounts you enter. $3,000 total estimated one-time costs, rolled into the mortgage — brokers can sometimes get lender set-up fees reduced or waived. Your real amount, rate, and costs depend on your age, home, and lender — a free estimate confirms them.
What would paying your reverse mortgage off early cost?
The calculator above shows what you could get. This second calculator shows the other end: what it would cost to pay the mortgage off early. Every reverse mortgage in Canada can be repaid at any time — the only question is the early-payout charge, which is largest in the first years, holds at about three months' interest, and ends in time. Set the mortgage amount and the interest rate, and see the typical charge for the market's four schedule types, year by year.
Typical charge if paid off in each year, on the balance by then. Hover or click a figure to see how it is calculated.
| Year | Balance | Percentage kind, 5% start | Percentage kind, 4% start | Months-of-interest kind | Lifetime fixed rate |
|---|---|---|---|---|---|
| 1 | $159,599 | $7,980 | $6,384 | $4,189 | $12,768 |
| 2 | $169,812 | $6,792 | $5,094 | $3,566 | $11,887 |
| 3 | $180,679 | $5,420 | $3,614 | $2,846 | $10,841 |
| 4 | $192,241 | $3,028 | $3,028 | $3,028 | $9,612 |
| 5 | $204,543 | $3,222 | $3,222 | $3,222 | $8,182 |
| 6 | $217,632 | †$3,428 | $3,428 | †$3,428 | $3,428 |
| 7 | $231,558 | †$3,647 | $3,647 | †$3,647 | $3,647 |
| 8 | $246,376 | †$3,880 | $3,880 | †$3,880 | $3,880 |
| 9 | $262,143 | †$4,129 | $4,129 | †$4,129 | $4,129 |
| 10 | $278,918 | †$4,393 | $4,393 | †$4,393 | $4,393 |
| 11+ | — | $0 | $0 | $0 | $0 |
Year 1balance $159,599
- 5% start
- $7,980(5%)
- 4% start
- $6,384(4%)
- Months of interest
- $4,189(5 months' interest)
- Lifetime fixed
- $12,768(8%)
Year 2balance $169,812
- 5% start
- $6,792(4%)
- 4% start
- $5,094(3%)
- Months of interest
- $3,566(4 months' interest)
- Lifetime fixed
- $11,887(7%)
Year 3balance $180,679
- 5% start
- $5,420(3%)
- 4% start
- $3,614(2%)
- Months of interest
- $2,846(3 months' interest)
- Lifetime fixed
- $10,841(6%)
Year 4balance $192,241
- 5% start
- $3,028(3 months' interest)
- 4% start
- $3,028(3 months' interest)
- Months of interest
- $3,028(3 months' interest)
- Lifetime fixed
- $9,612(5%)
Year 5balance $204,543
- 5% start
- $3,222(3 months' interest)
- 4% start
- $3,222(3 months' interest)
- Months of interest
- $3,222(3 months' interest)
- Lifetime fixed
- $8,182(4%)
Year 6balance $217,632
- 5% start
- †$3,428(3 months' interest)
- 4% start
- $3,428(3 months' interest)
- Months of interest
- †$3,428(3 months' interest)
- Lifetime fixed
- $3,428(3 months' interest)
Year 7balance $231,558
- 5% start
- †$3,647(3 months' interest)
- 4% start
- $3,647(3 months' interest)
- Months of interest
- †$3,647(3 months' interest)
- Lifetime fixed
- $3,647(3 months' interest)
Year 8balance $246,376
- 5% start
- †$3,880(3 months' interest)
- 4% start
- $3,880(3 months' interest)
- Months of interest
- †$3,880(3 months' interest)
- Lifetime fixed
- $3,880(3 months' interest)
Year 9balance $262,143
- 5% start
- †$4,129(3 months' interest)
- 4% start
- $4,129(3 months' interest)
- Months of interest
- †$4,129(3 months' interest)
- Lifetime fixed
- $4,129(3 months' interest)
Year 10balance $278,918
- 5% start
- †$4,393(3 months' interest)
- 4% start
- $4,393(3 months' interest)
- Months of interest
- †$4,393(3 months' interest)
- Lifetime fixed
- $4,393(3 months' interest)
† On these schedules, once the mortgage is past its fifth year, three months' written notice drops the charge to $0.
Typical figures, not quotes. The columns are the four schedule types in today's market — exact percentages, notice rules, and end dates vary by lender and product, and are confirmed per case. Charges apply to the amount repaid; the balance shown uses the rate you set above, compounded semi-annually (the standard across Canadian mortgages), with no payments made. Every schedule is $0 on the death of the last borrower — one lifetime schedule also waives it within three years of the death of a first borrower on a couple's file — and a permanent move into long-term care cuts the charge by half on some standard products and removes it entirely on others.
The figures are typical, not quotes — exact percentages, notice rules, and end dates vary by lender and product. For the four ways out, the free-exit levers, and when leaving costs nothing, read can you pay off a reverse mortgage early? Which schedule sits behind which lender — and which one fits your plans — is part of what a free estimate compares.
Reverse mortgage calculator questions
Is this reverse mortgage calculator free?
Yes. The calculator is free to use, as many times as you like, with no sign-up and no obligation. The personalized estimate that follows it is free too — a broker is paid by the lender you end up choosing, never by you.
Does using the calculator affect your credit score?
No. The calculator never asks who you are, so nothing touches your credit report. Getting a free estimate afterward involves no credit check either. A lender reviews credit only later, if you decide to apply. Even then it is a much smaller factor than at a bank, because approval is based mainly on your age and your home's value.
Does this calculator cover CHIP reverse mortgage amounts?
Yes. The by-age percentages reflect the most generous published programs in Canada, and that includes CHIP Max from HomeEquity Bank. Equitable Bank's Flex Plus reaches the same 59% tier, and Home Trust's EquityAccess Boost advertises up to 60% — the market's top tier.
Can this serve as an Equitable Bank reverse mortgage calculator?
Yes. The by-age ranges cover Equitable Bank's Flex, Flex Lite, and Flex Plus — Flex Plus reaches the 59% top tier — along with Bloom, HomeEquity Bank, and Home Trust. Your age and home value set the range; which lender actually fits your file is what a broker sorts out with you at the estimate stage.
How accurate is this reverse mortgage calculator?
It shows the published maximums accurately — the "up to" amount for your age and home value. It is not a quote, because each lender sets the final amount file by file. Treat the result as the most you could qualify for. How much is wise to actually take is a separate question, and a broker walks you through both sides before you commit to anything.
Can you use it if you're under 55?
The calculator starts at 55 because every reverse mortgage in Canada requires all owners on title to be at least 55. If you are younger than that, a reverse mortgage is not available yet. Other ways to borrow against your home may be, and a broker can lay out which of them fit until you reach 55.
See your real numbers
The calculator shows what is possible. For the real number on your file — compared across every reverse mortgage lender in Canada — get your free, no-obligation estimate. It takes about 90 seconds.