Reverse Mortgage Calculator

Find out how much you can potentially access from your home equity

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How RetireBetter Got Michael
More Equity From His Home

Discover Canada’s Best Reverse Mortgage Calculator

A reverse mortgage is your key to financial freedom in retirement.

With RetireBetter’s free reverse mortgage calculator, calculate your reverse mortgage loan amount and see how much you are eligible for. No personal information required!

Our online reverse mortgage calculator is free, anonymous and designed to give you the answers you want in seconds.

Canadian homeowners over the age of 55 using Canada's best reverse mortgage calculator that does not require personal information.

Trustpilot Reviews

"My wife and I both get pensions but we were struggling to make ends meet with everything getting so expensive! Plus we were shocked to see how much my wife’s PSW was going to cost every month. After researching our options, we decided to work with RetireBetter.ca to obtain a reverse mortgage. The staff was incredibly patient and helpful, guiding us through the process step-by-step. Life is so much better now! We highly recommend RetireBetter.ca to anyone facing similar challenges"

William, Vancouver

"I wanted to help my daughter and her family purchase a home but I was worried about my own financial stability. After speaking with Sunita at RetireBetter.ca, I realized that a reverse mortgage was the perfect solution for my needs. She explained everything to me and even spoke with daughter to answer her questions. It was a great overall experience!”

John, Ottawa

"After my husband passed away, I was concerned about my ability to manage everything on my pension. After speaking with Stephanie at RetireBetter.ca, I learned about the benefits of a reverse mortgage. She helped me with everything and now I have all the financial stability I need. Stephanie really made the process stress-free for me. I highly recommend RetireBetter.ca to anyone looking for a way to live peacefully at home."

Susan, Toronto

"I wanted to buy a summer home in Florida but really didn’t want to sell my investments yet. Syed at RetireBetter.ca showed me how I could use a reverse mortgage to get what I wanted. It really was the best thing for me. They are terrific people doing terrific work---thank you, guys!”

Michael, Oakville

“I wanted to renovate my home and live there as long as I could. The people at RetireBetter.ca showed me how I could do that with a reverse mortgage. My home is perfect for my needs now and I am so comfortable and happy now!”

Elizabeth, Calgary

"Nobody tells you how expensive and stressful downsizing is and I thought that was the best way to save on costs. But I didn’t want to leave my home and lose all those memories or lose my independence. I am so happy now after getting a reverse mortgage and working with everyone at RetireBetter.ca! I still keep in touch with them and consider them my friends.”

Michelle, Mississauga

SPEAK TO A REVERSE MORTGAGE ADVISOR

1 (855) 999-3244

Seniors looking for a mortgage who are wondering when they should use a reverse mortgage calculator.

When Should You Use Our Reverse Mortgage Calculator?

Use our reverse mortgage calculator when you are exploring reverse mortgages.

Using a reverse mortgage calculator is just the first-step in the process and you should use the calculator simply to get an estimate of your potential reverse mortgage approval amount.

After you use the reverse mortgage calculator, start the process for real by speaking with one of our reverse mortgage specialists for a no-obligation consultation.

Schedule an appointment

How Our Reverse Mortgage Calculator Works

With our reverse mortgage calculator, there is no need to visit multiple websites! Our calculator uses information from various reverse mortgage lender websites and gives you a simple answer.

Our reverse mortgage calculator is easy to use. Just enter the following basic information:

Home Location: Select whether your home is located in an urban, suburban or rural location.

Homeowner Age: Enter the age of the youngest homeowner.

Home Value: Enter your best guess of your home’s value.

Seniors looking for a home loan with bad credit using a reverse mortgage calculator that requires no personal information to be shared.

Where Can You Use Our Reverse Mortgage Calculator?

We work with homeowners over the age of 55 across Canada to arrange the best reverse mortgage for their needs.

If you live in any of the provinces below, you can use our reverse mortgage calculator to get an estimate of your reverse mortgage loan amount.

Province

Eligible

British Columbia

Yes

Alberta

Yes

Saskatchewan

Yes

Manitoba

Yes

Ontario

Yes

Quebec

Yes

New Brunswick

Yes

Nova Scotia

Yes

Prince Edward Island

Yes

Newfoundland and Labrador

Yes

Homeowners aged 55 or older looking for a reverse mortgage calculator BC or a reverse mortgage calculator Ontario.

SPEAK TO A REVERSE MORTGAGE ADVISOR

1 (855) 999-3244

Questions About Your Reverse Mortgage Calculator Results?

If you need more money than our calculator says you are eligible to receive, don’t worry!

RetireBetter is Canada’s largest reverse mortgage broker, and we have access to reverse mortgage lenders other than HomeEquity Bank and Equitable Bank.

With our extensive reverse mortgage lender network, we can get you approved for larger reverse mortgages than you could get by dealing directly with HomeEquity Bank or Equitable Bank.

Retired homeowners with questions about finding a RBC reverse mortgage calculator, a CIBC reverse mortgage calculator, a TD reverse mortgage calculator, a chip reverse mortgage calculator, an Equitable Bank reverse mortgage calculator or a Home Equity bank reverse mortgage calculator.

Our Reverse Mortgage Partners

partners

Reverse Mortgage Interest Rates

Get better rates and fees using RetireBetter for your reverse mortgage. Available across Canada!

Lender

Mortgage Terms

Rate

Setup Fee

1 Year Fixed

8.24%

$995.00

1 Year Fixed

8.49%

$1,795.00

2 Year Fixed

7.74%

$995.00

Not Available

3 Year Fixed

7.14%

$995.00

3 Year Fixed

7.58%

$1,795.00

5 Year Fixed

6.74%

$995.00

5 Year Fixed

6.99%

$1,795.00

5 Year Variable

9.89%

$995.00

5 Year Variable

9.88%

$1,795.00

Disclosure: Prime Rate (P) is 7.2%. Equitable Flex Lite and CHIP Reverse Mortgage rates shown. Rates/fees for other EQ and HEB products may differ. Rates shown are posted rates, actual rates may vary. APR rates available upon request. Rates may change without notice. Subject to lender approval. E&OE.

Save Money with RetireBetter, Canada's Top Reverse Mortgage Broker

Speak to an Agent

How RetireBetter Can Help You Get the Best Reverse Mortgage

With our access to low reverse mortgage rates not available to the public, we can save you thousands of dollars in interest.

We can help you secure larger reverse mortgage approvals than you could get on your own.

We can reduce your initial setup costs by up to $500.

As a reverse mortgage broker, we have the experience and knowledge to make the process stress-free for you.

Our Reverse Mortgage Process

What to Expect After You Use Our Reverse Mortgage Calculator:

Speak to a Reverse Mortgage Specialist

Explore your options with no obligations

Decide How You Want to Receive the Funds

Funds can be received in a lump sum or over time.

Sign Your Documents

We get all the paperwork ready for you to sign.

Enjoy Your Retirement

Enjoy your tax-free, payment-free reverse mortgage for life.

Frequently Asked Questions

Answers to common questions we receive about reverse mortgages

How does a CHIP Reverse Mortgage work?

A CHIP Reverse Mortgage allows homeowners aged 55 or more to access their home’s equity without selling their home. No monthly payments are required to be made and interest is added every month to the loan balance.

Learn more about a CHIP Reverse Mortgage.

How does the RetireBetter reverse mortgage calculator work?

Our online calculator provides an estimate based on age, home type, and value. It combines the amounts you would be able to receive from different lenders and provides you with an average amount.

Are Canadian reverse mortgage calculators the same as American calculators?

No, they are very different. Make sure you are using a Canadian reverse mortgage calculator if you live in Canada. Most of the top results online are for American reverse mortgages—so be careful you are getting accurate results!

Which banks offer reverse mortgages in Canada?

HomeEquity Bank offers the CHIP Reverse Mortgage and Equitable Bank offers the Flex Reverse Mortgage. RetireBetter is preferred partners with both of these banks and can provide you with our preferred partner pricing and incentives. Why pay more for the same reverse mortgage?

What personal information is required to use the reverse mortgage calculator?

No personal information or signup is required to use our reverse mortgage calculator; we only ask for basic details about your home and age.

Is a CHIP Mortgage for seniors only?

No, a CHIP mortgage is not for seniors only. A CHIP mortgage is for any homeowner who is over the age of 55 years old.

Are CHIP Reverse Mortgage reviews positive?

CHIP Reverse Mortgage reviews are approximately 95% positive according to HomeEquity Bank statistics. Since 2016, none of our clients have reported being disappointed with their CHIP Reverse Mortgage experience.

Why should I use RetireBetter to get a CHIP Reverse Mortgage?

RetireBetter is a preferred partner with CHIP Reverse Mortgages and has access to better pricing and promotions that are not available to the public. We can get you the same CHIP Mortgage at a lower reverse mortgage interest rate and save you thousands in interest costs over the long-term. Why pay more unnecessarily?

Is a home equity loan better than a reverse mortgage?

Home equity loans and reverse mortgages both have their advantages and disadvantages. Learn more in our blog article or contact our team for personalized assistance.

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