Free tool
Reverse mortgage calculator for Toronto homes
Choose where your home is and what kind of home it is, and the calculator fills in a typical Toronto value. Then set the youngest owner's age and a cash amount. The top figure is the most you could qualify for; the chart below follows your Toronto home, the loan and what's left for you, year by year to year 15.
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The most you could qualify for
$0
Your home and the loan over 15 years
| Figure | Today | In 15 years |
|---|---|---|
| Home value | ||
| Loan balance | ||
| Equity (yours) |
These figures illustrate; they aren't a quote. Toronto prices are assumed to climb 4.5% each year, and the loan carries 6.44% interest added every six months. Real figures come from your own appraisal, your lender and where prices actually go.
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How the calculator works it out
The most you could qualify for is your home's value times a percentage set by the age of the youngest owner. It starts near 46% at 55, reaches about 50.5% at 65 and 53% at 70, and tops out at 60% from age 78. The estimate form uses the same percentages, so the two never disagree.
The 15-year view starts from the cash you choose, not the maximum. The home's value grows 4.5% a year in this illustration, and the loan grows by 6.44% a year, added every six months, because nothing has to be paid each month. Whatever is between the two lines is your equity. If anything is still owing on the home today, it is paid off first from the same money, so choose a cash amount that covers it.
The typical values that fill in the home's worth come from the Toronto Regional Real Estate Board (TRREB) Market Watch, September 2026. They are averages for each former city and kind of home, for TRREB, September 2026; an appraiser sets the real figure.
Calculator questions
How accurate is this reverse mortgage calculator?
It is a starting point, not an approval or a quote. The age percentages are the same ones the estimate form uses, at the generous end of what lenders offer. Your real amount depends on the lender, the appraisal of your home and, for couples, both ages.
Why does the most I could get go up with age?
An older borrower is expected to keep the mortgage for fewer years, so less interest has time to build. At 55 the calculator uses about 46% of the home's value; from 78 on it uses 60%.
Why does the loan balance keep growing?
There are no required monthly mortgage payments, so the interest is added to the balance instead, twice a year. Over the same years the home's value usually rises too. The chart shows both, so you can see what stays yours.
What if the balance catches up with the home's value?
The loan line on the chart can meet the home-value line but never cross it. When the mortgage is repaid, the amount due is capped at what the home sells for or is appraised at, provided taxes, insurance and upkeep were paid along the way (typically called the no negative equity guarantee).
Is anything I type here saved or sent?
No. Everything is worked out on your own device, and it doesn't affect your credit. Close the page and the numbers are gone.