YOUR NEXT CHAPTER, CONSIDERED

Understand equity release before deciding.

Explore a generic reverse-mortgage illustration and the importance of independent advice.

YOUR WORKSHEET

How much would a reverse mortgage grow to, and how much equity would be left?

ProductRate termYoungest owner's ageProvinceHome value ($)Lump sum now ($)

A useful detail

This model keeps the selected rates constant. Default values are fictional assumptions, not offers or live rates. Read every warning and confirm location, timing, contract terms and any eligibility conditions against the official sources below. No lender decision or recommendation is made.

Equity left at the end

$777,474

Rate used6.49%5-year fixed, as published

Product ceiling$495,00055% of home value

Set-up fees$1,795

Loan balance at the end$525,995

Home value at the end$1,303,468

Loan balanceHome value

No lender publishes an age-by-age table; 55% is CHIP Reverse Mortgage (lump sum)'s ceiling, not a typical amount.
Reverse mortgage rates are higher than regular mortgage rates and interest compounds; FCAC recommends getting independent legal advice.

Keep the method beside the result.

Worksheet: Reverse mortgage calculator (CHIP, Income Advantage, EQ Flex, Home Trust). Rule set recorded 2026-11-02. Interest, fees, eligibility constraints and local rules vary. These references explain the model’s boundaries; they do not establish that an input matches your situation.

Financial Consumer Agency of Canada · Reverse mortgages HomeEquity Bank (chip.ca) · CHIP special rates as of 2026-10-29 (read by the ydoc reviewer) HomeEquity Bank (chip.ca) · CHIP products, minimums and maximum share HomeEquity Bank · CHIP Reverse Mortgage interest rates (posted, on reset) HomeEquity Bank · Income Advantage interest rates EQ Bank (Equitable Bank) · Reverse mortgage comparison and rates (prime 4.70% as of 2026-10-29) EQ Bank (Equitable Bank) · Reverse mortgage advances and fees Home Trust · EquityAccess reverse mortgage (rates, set-up fee, provinces) Bloom Finance · Bloom reverse mortgage fees

Read the site methodology →

Keep the useful
conversation going.

Ask a question about the site or worksheet. This is not an application or an instruction to invest. You choose whether any calculation context is included.

A PERSON, WHEN YOU NEED ONE