Canadian Reverse Mortgage Calculator (CHIP)
A reverse mortgage allows Canadian homeowners aged 55 and older to access up to 55% of their home's value in tax-free cash without having to move or make regular payments. Use this calculator to estimate how much you could qualify for, and how the loan balance and your home equity might look over time.
Mortgage Details
Must be at least 55.
Existing secured debt must be paid off with the reverse mortgage proceeds.
Your Estimate
Estimated Max Loan Amount
$0
Mandatory Debt Payoff
$0
Net Tax-Free Cash Available
$0
Equity Projection
Assuming no payments are made, how your loan balance and home equity might look over time. Canadian mortgages compound semi-annually.
| Year | Home Value | Loan Balance | Remaining Equity |
|---|
