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Free Reverse Mortgage Calculators
I’ve provided 2 reverse mortgage calculators for commonly asked questions that homeowners have about reverse mortgages and want to calculate.
Before deciding on a reverse mortgage and running calculations, discover the inside secrets on how reverse mortgages work. Don’t make a decision until you’ve seen this free reverse mortgage guide.
Tools and Video Guide Below
Otherwise, you can choose the calculator below that you’re looking for or simply scroll down to use or see them both. I also have a video walkthrough of how to use these calculators (and how to think about interest rates in the long-term) that you can watch as well:
Reverse Mortgage Calculator (Quote) – How Much Money Can I Get?
The amount you qualify for depends on several factors: your age, the lender, property location, property type, sex and more. For more on this, see this article on qualifying for a reverse mortgage.
These rules vary by lender and lender and can change week to week.
Updated Age-Based Ranges Below
To make things simple, the table below will be kept up to date to give you a rough range as to what to expect based on your age. Age is the most important criteria.
As mentioned, where you fit in these ranges will then depend on your age, the lender, property location, property type, sex and more.
Use Our Ranges as a Starting Point
It’s not possible to build an online calculator for this, as you’d need to connect into the various lenders' private systems – as well as the fact that products and rules can change from day to day and week to week.
This is something that has to be individually calculated by a professional.
However, these ranges should give you a good idea if you’ll qualify for the amount you need.
Get Your Free Quote in 90 Seconds
If you’d like a more exact professional quote, hit the button below to fill out our 90 second online assessment for and get a free detailed quote and reverse mortgage assessment.
Reverse Mortgage Calculator – How Much Does It Grow Over Time & How Will This Affect My Home Equity?
You can play around with the calculator below to see how a reverse mortgage will impact your home equity over time - and see what the balance owed would be after 5 years, 10 years (etc).
Understand Your Potential
I strongly recommend that you use the rates suggested in the tool (which reflect likely long-term interest rates) and if you are interested in seeing current rates, you can do so here: Reverse Mortgage Rates
Remember that the amount you might get under a reverse mortgage is between 10% and 55% – depending on your age. See the above section for more information on this.
Enter the Amounts Below, the Table in the Calculator Updates in Real Time:
If you’d like a more exact quote, hit the button below to fill out our 90 second online assessment for and get a free detailed quote and reverse mortgage assessment.
Reverse Loan Experts
Mich Sneddon, CPA, CA - Mortgage Broker & Owner
Fully Licensed & Regulated:
ON License #13649, BC License #MBX605376, AB License #2025650157
91 Campbell Avenue, Toronto, Ontario M6P 3T9
Phone: (888) 358-7771 Email Us: contact@reversemortgagepros.ca
Business Hours
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