Reverse Mortgage Estimate Tool

Calculate and compare rates from all reverse mortgage lenders in Canada.

What's the estimated value of your home?
What type of home is it?

Frequently asked questions

Are there any requirements after receiving the funds?
The homeowner is required to continue living in the home, pay their taxes, have property insurance, and maintain the property's condition.
Do I have to pay taxes on the funds received?
No, you do not. Funds from a reverse mortgage are not added to your taxable income, and it does not affect Guaranteed Income Supplement, Old Age Security (OAS), or other government benefits which your may receive.
How do I receive the funds?
However you like. You can choose to receive a lump sum, take some now and some later, or you can receive scheduled payments. Whatever works best for your wants and needs.
Is a reverse mortgage a last resort loan?
Not at all. Many financial professionals recommend a reverse mortgage to supplement monthly income instead of selling or downsizing your home. Another benefit is not depleting your savings.
What if I already have an existing mortgage?
You can use a reverse mortgage to pay off a existing mortgage or any other debt you may have.
Will I still own the home?
Yes, you will still own the home and title.