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Tax free home equity withdrawal illustration

Your house is an investment: Discovering the benefits of taking retirement income from your home equity

Tax free home equity withdrawal illustration

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Our assumptions and other important information:

We established a line of credit equal to 50% of your home's estimated market value. Any outstanding debt will reduce your tax-free income withdrawal amount.

It's assumed any outstanding mortgage debt is not repaid and will reduce the estimated monthly tax-free income from home equity

annual interest rate applied on your monthly withdrawals (borrowing rate). Assumes all values remain the same throughout the time illustrated. The rate applied is variable and charged monthly based on the daily closing balance.

average annual increase in your home market value

*Your monthly interest is added to the outstanding line of credit balance - you make no payments on debt. Note: Some lines of credit do not provide this interest-deferral capability.

A monthly banking package of $10 has been added to the illustration. Actual services and fees may vary and can be explained by one of Manulife Bank’s Retail Banking Specialists.

**You could qualify for a line of credit up to 65% of your home's market value. You can also request to increase your borrowing limit over time as your home value rises - subject to approval (fees may apply).

Lines of credit do allow you to make principal and interest payments at anytime. You can also make withdrawals up to your borrowing limit.

If you reach your borrowing limit you must begin paying interest in order to keep your line of credit in good standing.

This calculator is for illustration purposes only.

The results generated by this calculator are intended for general information purposes only. They should not be construed as legal, accounting, tax or specific investment advice.

You should consult your advisor (or advisors) with respect to your particular circumstance and investment matters.

For more information on obtaining professional advice or to contact us, please call 1-844-239-4677 (9am-5pm EST). You can also e-mail us at

While reasonable steps have been taken to ensure that this information was accurate at the time of production, Manulife Bank makes no representation or warranty as to the accuracy of the information and assumes no responsibility for reliance upon it.

Manulife, Manulife Bank and the Block Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under licence.