My reverse mortgage calculator is a sophisticated tool designed to help Canadians understand how much reverse mortgage they may be able to obtain based on the factors lenders actually use. Rather than looking at income, credit scores, or debt ratios like a traditional mortgage calculator, it focuses on the key drivers of reverse mortgage eligibility: the age of the youngest homeowner, the estimated market value and type of the property, and conservative loan-to-value limits commonly applied by Canadian reverse mortgage lenders.

The calculator provides a realistic estimate range of how much equity may be available, not a single best-case number that promotes any lender’s products, and clearly explains why the amount can vary.

It also shows how existing mortgages and estimated setup costs can affect the amount you can realistically receive, helping users understand the difference between a gross reverse mortgage amount and what’s left after typical deductions. In short, I built my calculator to answer one practical question—“How much of a reverse mortgage could I get?”—in a way that’s transparent, lender independent, defensible, and grounded in how reverse mortgages actually work in Canada.

NOTICE:

My calculator provides a simplified, conservative estimate for general information purposes. It does not constitute financial advice, a quote, or a lending commitment. Only a calculator that provides a range of values can give you a reasonable estimation. Actual reverse mortgage proceeds depend on lender program rules, underwriting, property eligibility, and an appraisal or other valuation accepted by the lender. Setup costs (such as appraisal, legal, and administrative fees) reduce net proceeds and vary by province, property, and lender. Interest typically accrues and compounds because regular payments are not required; the loan balance generally increases over time and reduces remaining equity. Any projections shown are hypothetical and assume constant interest rates and simplified home value growth; real outcomes may differ materially. Consider independent advice regarding retirement income planning, tax implications, and estate planning before making decisions