How much can I borrow with a reverse mortgage in Canada?

Canadian reverse mortgage lenders typically allow access to 15%–55% of your home's appraised value, depending on your age, property type, and lender. Older borrowers and lower LTV requests generally qualify for higher percentages.

What is the minimum age for a reverse mortgage in Canada?

The youngest borrower on title must be at least 55 years old for CHIP, Equitable Bank, Bloom, and Home Trust.

What is the maximum LTV on a Canadian reverse mortgage?

The maximum loan-to-value is generally 55% of appraised home value on standard products, with select products allowing up to 59% in some cases.

Calculators

Reverse Mortgage Calculator Canada

Free reverse mortgage calculators for Canadians 55+ — no personal information required. Estimate loans, project equity, and compare HELOC vs reverse mortgage.

These free reverse mortgage calculator Canada tools let homeowners aged 55+ estimate loan amounts from all five lenders, project equity over 20 years, and compare a reverse mortgage to a HELOC — with no personal information required. Start with the loan estimator, then check current rates. All eight tools run in your browser.

Loan Estimate

Compare estimated loan amounts from CHIP, Equitable Bank, Bloom Finance, and Home Trust side by side. Enter your age, province, and home value to see which lender offers the best value for your situation.

Equity Projection

See how your home equity evolves over 20 years with a reverse mortgage. Visualize the balance between loan growth and home appreciation across multiple scenarios.

HELOC vs Reverse Mortgage

Compare a HELOC with a reverse mortgage side by side. See monthly payments, total interest, and qualification requirements — so you can make an informed choice between the two options.

Cost Estimator

Understand setup costs for each lender — admin fees, appraisals, ILA, and legal costs. Know exactly what to expect before you apply, broken down by lender.

Amortization Schedule

View a detailed year-by-year breakdown of your loan balance, interest accrued, home value, and remaining equity. Uses semi-annual compounding as required under Canadian law.

Downsizing vs Reverse Mortgage

Compare net cash from downsizing versus taking a reverse mortgage on your current home.

Benefits Impact (OAS/GIS)

See how choosing reverse mortgage proceeds vs RRIF withdrawals affects your OAS, GIS, and taxes.

Break Cost Estimator

Estimate the cost of breaking a reverse mortgage early to repay or switch lenders.

All calculators provide estimates only and do not constitute financial advice. Actual rates, LTV ratios, and fees depend on your specific circumstances and lender approval. Rates shown are as of the most recent update and may change. Consult a licensed mortgage broker for personalized advice.