Reverse Mortgage Calculator
Fill out the reverse mortgage calculator below to find out RIGHT NOW how much of a reverse mortgage you would qualify for.
If you need more funds than quoted on the reverse mortgage calculator please complete the FREE ASSESSMENT form and we will get back to you. The assessment is used to determine not only if a reverse mortgage is right for your but also to discover what other options are available to you.
It is difficult to estimate how much money you can get from a reverse mortgage on your property. The amount of money you will qualify for depends on your age, type of property, and appraised home value.Because of the conservative nature of reverse mortgages in Canada, age is a strong factor on the amount you will get. for example two neighbors take out a reverse mortgage on their home. One of them is aged 55 and the other aged 75, the 75 year old would qualify for more. The reasoning for this is that the 55 year old has more to time to accumulate more debt than the 75 year old.
Up TO 55% of the appraised value of your home
The other very influential factor is about the property itself, marketability is key. For example one property in good condition in a desirable neighborhood would qualify for more compared to a small home in the country. The reasoning is just like traditional mortgages if something happened the lender wants the ability to sell the property fast. So in our example the house in the county would in theory take longer to sell than a house in the city.
How much is my house worth? FREE Property Valuation