Home equity estimator: how much could your home unlock?

Quick answer: Ontario homeowners 55+ may usually borrow up to 55% of their home's value with a reverse mortgage (per the Financial Consumer Agency of Canada), and most qualify for less. The amount depends on the youngest owner's age, the home and the lender. Use the estimator below for an illustrative range. It is not a quote or approval.

Answer two quick questions and see an honest range, right here on your screen. Nothing you enter is recorded or sent anywhere, and no one will call you afterwards.

How old is the youngest owner of the home?

Lenders base the amount on the youngest person on title. The older you are, the more you can unlock.

What is your home roughly worth today?

Your best guess is fine, a recent estimate from a realtor, your property assessment, or what similar homes nearby have sold for.

Still owe anything on the home? (optional)

Any mortgage, HELOC, or secured line of credit. A reverse mortgage pays this off first, which is how many families end their monthly mortgage payment for good. Leave blank if your home is paid off.

This estimator is general education, not advice or an offer to lend. It uses typical age-based ranges across Canada's reverse mortgage lenders. Your actual amount depends on the lender, your property's type and location, and a professional appraisal, and can be higher or lower than this range. Nothing you enter is collected or transmitted.

Why you can't borrow it all, and why that protects you

Canadian reverse mortgage lenders cap what you can borrow, at most about 55% of your home's value, and less at younger ages. That cap isn't stinginess. It's part of why most Canadian reverse mortgage lenders say that, when the loan terms are met, you generally won't owe more than your home's fair market value, and it means a healthy share of your home's value stays yours as equity on day one.

The money you unlock is tax-free, because it's your own equity, not income. FCAC states it doesn't affect Old Age Security or the Guaranteed Income Supplement either.

What decides your real number

The age of the youngest owner, older means more.
Your home's appraised value, type, and location, urban homes in strong markets qualify for more.
Which lender: eligibility and borrowing limits depend on the lender and product. Ask which options are available for your situation.

What this estimator does and doesn't do

It shows a range, using typical age-based limits across Canadian reverse mortgage lenders. It is not a rate quote, an offer to lend or a pre-approval.
It doesn't show interest costs. Interest is added to the balance, so the amount owed grows over time and the equity left in the home shrinks. Ask for the total cost in writing before you decide.
Through BRX Mortgage Inc., I can compare four lenders for you: HomeEquity Bank (CHIP), Equitable Bank, Bloom Financial and Home Trust.

Common questions

How much can I borrow with a reverse mortgage in Ontario?

According to the Financial Consumer Agency of Canada, you may usually borrow up to 55% of your home's current value. The actual amount depends on the ages of everyone on title, the home's type, condition and appraised value, and the lender, and is subject to lender approval.

Is this reverse mortgage calculator a quote?

No. It shows an illustrative range based on typical age-based limits across Canadian reverse mortgage lenders. It is not a rate quote, an offer to lend or a pre-approval. Your actual amount comes only from a lender after an application and appraisal.

Does a reverse mortgage affect OAS or GIS?

The Financial Consumer Agency of Canada states that money borrowed through a reverse mortgage does not affect Old Age Security or Guaranteed Income Supplement benefits. Income earned by investing the funds may be treated differently.

What does a reverse mortgage cost?

Rates are usually higher than a regular mortgage or HELOC, and interest is added to the balance, so the amount owed grows over time. Other costs can include appraisal, set-up, legal and closing fees, and prepayment charges. Ask for all costs in writing.

Sources: Financial Consumer Agency of Canada, Reverse mortgages. Prepared by Ragini Domenichini, Mortgage Agent Level 2 (FSRA licence M22004226), BRX Mortgage Inc. (FSRA #13463). Updated November 4, 2026.

Want to talk through your options?

A free introductory call can help identify options worth exploring for your situation. Lender illustrations or written quotes depend on the appropriate assessment and the information available about your circumstances and property.