Reverse Mortgage Estimate (Canada)
Educational estimate only. This tool shows a conservative range and—if you opt in—an illustrative projection.
Quick Estimate (Recommended)
Shows an estimated proceeds range. No future projections.
Your Details
Reverse mortgage limits are based on the youngest applicant (minimum 55).
Used for cost assumptions and province-specific messaging.
Final value is determined by an appraisal. For safety, this tool caps eligible value at $3,000,000.
If you have a mortgage, proceeds are typically used to pay it out first.
Some property types may receive more conservative advance estimates.
Your estimate (range) stays the same. This setting changes how the projection models interest over time.
Projection acknowledgement: I understand this is a simplified projection, not a prediction, and actual results can differ due to rate changes, home value changes, fees, and lender rules.
Choose how long you expect to stay in the home.
Range is -20% to +20%. Negative values model price declines. Default is 0%.
Projection assumptions: Proceeds style —. This projection assumes a constant rate and annual compounded home price change. Real-world outcomes vary.
| Year | Projected loan balance | Projected home value | Projected remaining equity |
|---|
Projection rate assumption used in this tool is conservative and includes a buffer. See disclosures below for details.
Your Estimate
Estimated reverse mortgage proceeds (range)
$—
Enter your details and click “Calculate estimate”.
What this means (plain English)
- This is an estimate range, not an approval.
- Reverse mortgages are driven mostly by age and home value.
- If you have an existing mortgage, it typically must be paid out first.
- Because payments aren’t required, the balance usually grows over time.
Important disclosures
Assumptions v1.3 • 2025-12-23
- Educational estimate only: This calculator provides a simplified estimate for general information. It is not financial advice, not a quote, and not a commitment to lend.
- Subject to approval and appraisal: Actual reverse mortgage proceeds depend on lender program rules, underwriting, property eligibility, and an appraisal or other valuation method accepted by the lender.
- Costs and net proceeds: Setup costs (for example: appraisal, legal, and administrative fees) reduce net proceeds. Costs vary by province, property, and lender.
- Interest accrual: Interest typically accrues and compounds because regular payments are not required. The loan balance generally increases over time and reduces remaining equity.
- Projections are illustrative: If you choose the projection view, the results are hypothetical and assume constant interest rates and annual compounded home price change. Real outcomes may differ materially.
- Proceeds style note: Proceeds style generally affects outcomes by changing how quickly interest begins accruing (e.g., a lump sum accrues interest sooner than multiple draws). This tool models that difference using simplified assumptions.
- Independent advice encouraged: Consider speaking with a qualified professional about retirement income planning, tax implications, and estate planning before making decisions.
This tool uses conservative assumptions and safety caps to avoid overstatement. For a personalized review, you can contact Allen via allenehlert.com.