Reverse Mortgage Calculator
Canadian Reverse
Mortgage Calculator
See the highest estimate across all
Canadian lenders — not one bank's number.
We compare all 4 Canadian lenders
One lender said no.
Another said $495,000.
The same property, priced by every reverse mortgage lender in Canada on the same day.
A rural property in the East Kootenays, BC, valued at $1,500,000. Same homeowners, same value, assessed by every reverse mortgage lender in Canada.
The first wouldn't lend on it at all — had that been the one they approached, they'd have walked away believing they didn't qualify. Another was prepared to advance $495,000. Among the three who would lend, the gap was $161,500.
Nothing about the homeowners changed between those numbers. Only the lender did. On an urban property the spread is narrower, but it typically starts in the five figures.
A real file. Lenders are shown unnamed because the ranking is specific to this property — it reorders on the next one.
Same home, same day, same value — four different answers, from a flat no to $495,000, a $161,500 gap between the lenders who would lend.
Where the real difference lives: fees, terms and fine print
There are only four reverse mortgage lenders in Canada, so you could call all four yourself. Plenty of people start there. But four quotes isn't the same as knowing which one is right for you — the lowest rate can carry the highest fees, and the largest amount can come with the costliest terms.
What you get with us
- Rate, amount, fees, promotions and terms — side by side in one standard format
- Pros and cons weighed against your plans, so what matters most to you is front and centre
- Common fine print and misconceptions cleared up, so you can decide with confidence
How much do we charge for our services?
There is zero cost to you for our services. The lender pays us a referral fee for preparing, underwriting and submitting your file — and every lender pays us the exact same amount, so we have no financial incentive to favour one over another.
Why would a lender pay for that? When people apply directly, lenders spend time on a lot of applications that never qualify. A file that comes through a broker arrives well-matched, properly packaged and professionally underwritten, which saves them that work. The fee is what they pay for the efficiency.
Crucially: we're a team of licensed mortgage brokers, not a reverse mortgage sales desk — if a different kind of mortgage suits you better, we’ll tell you, and we can help with that too. A short call is the fastest way to find out what actually fits your goals.
How much can you get with a reverse mortgage in Canada?
Depending on their criteria, most Canadian lenders offer reverse mortgage advances ranging from 21% to 57% of your home's value. A maximum advance of up to 59% is possible, though only through select lenders.
Vancouver, BC
| Age of youngest homeownerAge of youngest homeowner | Typical maximumTypical maximum | Estimated amountEstimated amount |
|---|---|---|
| 55 | Up to ~44% | ~$667,000 |
| 60 | Up to ~46% | ~$695,000 |
| 65 | Up to ~47% | ~$716,000 |
| 70 | Up to ~50% | ~$755,000 |
| 75 | Up to ~55% | ~$827,000 |
Disclaimer
Illustrative maximums for a mortgage-free, single-detached property in postal code V6M 1L1, based on lender cases screened on September 29, 2026. These figures are not pre-approvals or theoretical maximums; actual results depend on individual borrower qualification and lender review. Lender policies are subject to change.
What you actually qualify for depends on five things:
- 1Your ageBiggest factorThe youngest homeowner sets the limit. Every five years adds meaningfully to what you can access.
- 2Your home's valueCurrent market value of your home, based on 3–6 months of comparable sale history in your area.
- 3Where you liveLenders advance more in established markets with large real estate demand, and lend more conservatively in rural areas.
- 4Property typeSome lenders will advance more funds for a detached home than for a condo, even if they have the same market value.
- 5Which lender you go toRisk analysis and market projections may vary materially from one lender to another, which means different estimates on the exact same property.
- Curious what your home qualifies for?
Canadian reverse mortgage calculator FAQ
Why does my property's location affect how much I can borrow?
Lenders are looking further ahead than today's price. A reverse mortgage can run for decades, so what matters is how confidently they can project your home's value that far out. In large centres like Toronto, Calgary or Vancouver, sustained demand and steady long-term value growth are reasonably safe assumptions, so lenders can advance a larger percentage. In smaller or more remote markets those projections are far less certain — even where prices have been perfectly steady — so lenders advance less, leaving the mortgage more room to grow within the home's value.
Why is my age a primary factor?
It comes down to time. There is no defined due date on a reverse mortgage — you can stay in your home, mortgage-payment free, as long as you keep up your property taxes and maintain the home in good repair. The mortgage only becomes due when you choose to sell, when the last borrower on title moves into long-term care, or when the last borrower on title passes away. Because payments are optional and the due date is undefined, interest accumulates over the years. The younger the borrower, the more time there is for that to happen — so lenders are more conservative on the initial advance.
Why do lenders give such different amounts on the same home?
Each lender uses its own model for age, property type, location and value growth projections, and each has its own funding targets at any given moment. On the same file, the gap between the lowest and highest offer is routinely five figures. That's exactly why we built our calculator to provide you with the quote of the highest-advancing lender in your area.
Do I have to take the full amount shown?
Absolutely not. Think of the number as your available limit, not a loan you must take - you only pay interest on what you actually withdraw. The one condition is a minimum initial advance of $25,000, which applies across all lenders. Reverse mortgages also come in several advance structures. The most common is an initial lump sum with further advances as you need them. Others include regular monthly advances, lump sums on request, a home equity card you draw from as needed, and one-time-only products.
Will you sell my data?
We don't share your profile with lenders or any other third parties. Your information is kept private and encrypted, and you can unsubscribe at any time.
Ready to see your actual offers?
Our team compares every lender's offer for your property — rates, loan amounts, promotions and contract terms — so you can choose with confidence.
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