Free tool
Reverse mortgage calculator for Burlington homes
This reverse mortgage calculator starts from the typical Burlington value for your type of home. Change it to your own figure, add your age and what you owe, and see the most you could borrow, what is left after debts, and what selling and moving would cost instead.
No cost · No credit check · No sales pressure
Highest possible reverse mortgage
$0
Yours after debts on the house are cleared
$0
Five years from now, at today's value
$0
Cost of selling up and moving instead
$0
This is an estimate, and approval comes later. Each lender has its own limits, and the appraisal (ordered by the lender or the broker, depending on the lender) sets the final figure. Borrowing less than the maximum is fine, and interest is only charged on money drawn.
Where each figure comes from
The top figure multiplies the property's value by an age-based percentage for the youngest owner: roughly 46% at 55, 50.5% at 65, 53% at 70 and a ceiling of 60% from 78. The brokerage's main estimate form works from the identical table.
Debts registered on the house come out of that same total before you receive anything, so the second box subtracts them. The new loan takes the place of the old mortgage rather than sitting on top of it.
The moving box shows money you would pay out, not money you would get. Its ingredients: an agent's commission assumed at 4% of the sale price (commissions are negotiable), 13% HST charged on that commission, Ontario land transfer tax on the purchase, legal bills assumed at $1,800 each to sell and to buy, and $3,000 for the movers. These are the same assumptions as the Burlington downsizing guide. The City of Burlington adds no land transfer tax of its own, so Ontario's is the only one included.
For a detached house, the next home is taken to be a Burlington townhouse or condo at that group's September 2026 median sale price of $670,000. For a townhouse or condo, it is a smaller home at three quarters of today's value. Staging, repairs, legal disbursements and new furniture are left out, so a real move usually costs more.
Typical values come from the Cornerstone Association of REALTORS: Burlington Monthly Indicators and market update, September 2026 (released October 2 and 5, 2026).
Questions about the calculator
Will a lender offer exactly what the calculator shows?
Not necessarily. Treat the result as a first look rather than an approval. The percentages match the brokerage's main estimate form and sit toward the top of what lenders advance; the final figure turns on the lender chosen, the appraisal of your house and, for couples, the age of each spouse.
Why does an older owner get more?
A lender expects a loan to an older borrower to run for fewer years, so less interest piles up before it is repaid. That is why the calculator starts near 46% of the value at 55 and climbs to the market's ceiling of 60% from age 78.
Does the calculator keep my answers?
No. Everything is worked out on your own device. Your entries go nowhere and are wiped as soon as you leave.
Sources
- Cornerstone Association of REALTORS: Burlington Monthly Indicators and market update, September 2026 (released October 2 and 5, 2026)
- Cornerstone / ITSO: Burlington Monthly Indicators, September 2026 (median sale prices)
- Ontario Ministry of Finance: Land transfer tax
- Financial Consumer Agency of Canada: Selling a home (commissions negotiable, typically 2% to 6%)