Reverse Mortgage Calculator: Estimate How Much You Can Unlock from Your Home’s Equity
The Reverse Mortgage for Canadians 55 and over
Thousands of 55+ Canadians are beginning to realize just how wealthy they are, when they consider the equity they’ve built in their homes
- Access up to 55% of your home value in tax-free cash!
- Keep the home you love
- No monthly mortgage payments
WE’RE HERE TO HELP
How Does the Reverse Mortgage Calculator Work?
Our reverse mortgage calculator gives you an instant estimate of the amount you could borrow based on a few simple factors:
- Your Age: The older you are, the more home equity you can access. This is because the loan amount is based partly on life expectancy.
- Your Home’s Value: The current market value of your home is a key factor in determining how much you can borrow. Homes in larger urban areas often qualify for higher amounts.
- Location: The region or city where your home is located may also impact the amount you can unlock, as property values vary across different areas.
With just a few details, the calculator will provide an estimate of how much tax-free cash you can receive through a reverse mortgage. For more details, visit our reverse mortgage calculator to see what your estimated approval can be today!
Why Use a Reverse Mortgage Calculator?
- Quick and Easy Estimate: Get an instant idea of how much equity you could unlock without having to commit to anything.
- Plan Your Retirement: Use the estimate to help plan how you could use the funds to improve your financial situation, cover living expenses, pay for healthcare, or even travel.
- No Obligation: Using our reverse mortgage calculator is completely free and doesn’t require you to apply for the loan.
- Tax-Free Cash: Remember, the money you receive from a reverse mortgage is tax-free, and it won’t affect your government benefits such as Old Age Security (OAS) or the Guaranteed Income Supplement (GIS).
Estimate How Much You Can Borrow with Our Reverse Mortgage Calculator
Step 1: Enter Your Home’s Current Value
Simply input the estimated market value of your home. If you’re unsure, you can get an appraisal or use the recent sale prices of similar homes in your area.
Step 2: Provide Your Age
Your age plays a critical role in determining how much of your home’s value you can access. The older you are, the more you can borrow.
Step 3: Choose Your Location
Where your home is located will also impact the loan amount. Properties in urban centers like Toronto, Vancouver, or Montreal may qualify for larger loans due to higher property values.
Step 4: Get Your Estimate
Our reverse mortgage calculator will give you an estimate of the total amount you could unlock from your home’s equity, giving you a clear idea of how this financial tool can enhance your retirement.
Get An Estimate
See How Much You Can Borrow Today!
You can access up to 55% of your home’s appraised value, depending on your age, home value, and location.
No, the money you receive is tax-free and does not affect your Old Age Security (OAS) or Guaranteed Income Supplement (GIS).
No, you keep ownership as long as property taxes, home maintenance, and insurance are kept up to date.
You can access up to 55% of your home’s value, depending on factors like your age and home value.
No, reverse mortgage payments are tax-free, and they won’t impact your Old Age Security (OAS) or Guaranteed Income Supplement (GIS).
Expect costs like appraisal fees, legal fees, and administrative charges, which vary by lender.
Yes, you can sell your home at any time, but the reverse mortgage balance must be repaid from the proceeds.
Yes, most lenders allow early repayment, though penalties may apply depending on the contract terms.
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Get Started Today with Our Free Reverse Mortgage Calculator
If you’re ready to explore how a reverse mortgage can help you secure your financial future, start by using our free reverse mortgage calculator. In just a few minutes, you’ll have a clear estimate of how much tax-free cash you can unlock from your home’s equity.
Get An Estimate
See How Much You Can Borrow Today!
Contact Us for More Information on Reverse Mortgages
Still have questions or want to learn more about reverse mortgages? Our team of experts is here to help you understand your options and guide you through the process. Contact us today for a free, no-obligation consultation.
Citadel Mortgages is one of Canada’s leading brokerages specializing in reverse mortgages. Visit Citadel Mortgages to learn more today.
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Unlock the value in your home and turn it to cash to help you enjoy life on your terms. Inquire about your reverse mortgage today.
Get Your Estimate
Reverse Mortgage Calculator: Estimate How Much You Can Borrow
Are you curious about how much you could access from your home equity with a reverse mortgage? Use our simple and intuitive Reverse Mortgage Calculator to get an estimate of how much you could borrow based on your home’s current value, your age, and other factors. This tool can help you better understand your financial options and decide whether a reverse mortgage is right for you.
How the Reverse Mortgage Calculator Works:
- Enter Your Home’s Current Value: The estimated market value of your property.
- Select Your Age: The older you are, the more you can borrow. If you have a spouse, include both ages.
- Choose Your Location: Property location affects your borrowing power, as home values vary by region.
- See Your Estimated Loan Amount: The calculator will provide a projection of the maximum amount you may qualify for.
Reverse Mortgage Calculator
See How Much You Can Borrow Today!
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