Equity Release Tool
Reverse Mortgage Calculator
Access tax-free cash from your home equity without selling. See how much you can borrow and what equity remains over time.
Your Situation
$
70 years
55 years95 years
7.74%
4.00%12.00%
Illustrative rate. Reverse-mortgage rates (HomeEquity Bank, Equitable Bank) are typically well above regular mortgage rates and change often. Ask us for a current quote.
15 years
5 years30 years
$
Canadian reverse mortgages (like CHIP) are available to homeowners aged 55+. The loan is repaid when you sell or move out. No monthly payments required — interest compounds on the balance.
Estimated Tax-Free Cash Available
$280,000
~35% of home value at age 70 ($280,000)
As Lump Sum
$280,000
As Monthly Income
$1,556/mo
spread over 15 yrs, before interest
Equity After 15 Years
$0(0% of home value)
Yr 5
$390,683
Yr 10
$201,643
Yr 15
$0
Estimates only. The borrowing % by age is illustrative — your actual limit depends on the lender, your property type and location (up to ~55% of value). Reverse mortgage interest compounds, so your debt grows over time; the projection assumes the full amount is advanced on day one at a constant rate and no home appreciation. Setup, legal and appraisal fees apply, and rates are typically higher than regular mortgages.
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