Reverse Mortgage Calculator

Both borrowers on title must be 55 or older. The home must be your principal residence in Canada. Available on most property types: detached, semi, townhouse, condo, bungalow. Some rural or unique properties may not qualify.

Based on: youngest borrower age (older = higher %), home value, home location, and home type. The general ceiling is 55% of appraised value. Age curves are approximate — actual amounts are set by each lender's published age × LTV table. Example: 68-year-old with a $900k home ≈ 27–35% of value = ~$240k–$315k available.

Interest compounds while you're not making payments. At 7.5% annual and no monthly payments, a $200k balance doubles in about 10 years. But your HOME VALUE typically also grows (Ontario long-run average ~3%/yr) — so residual equity is often preserved. Historical data: ~99% of reverse mortgage holders have equity remaining at loan discharge.

Yes. Reverse mortgage funds are a loan advance, not income. Not taxable and don't reduce Old Age Security or Guaranteed Income Supplement eligibility. Interest accruing on the balance is also not tax-deductible (unlike investment loan interest).

As long as you meet your property tax + insurance + maintenance obligations, you will never owe more than your home's fair market value at the time it's sold. If the balance exceeds the sale price, the lender absorbs the difference. This is a standard feature of every regulated Canadian reverse mortgage product.