Reverse Mortgage
A reverse mortgage is a financial solution designed for homeowners aged 55 and older, allowing them to convert a portion of their home’s equity into tax-free cash.
Unlike traditional mortgages, no monthly payments are required; instead, the loan is repaid when the homeowner sells the property, moves, or passes away.
This product provides seniors with financial flexibility, helping them cover living expenses, medical costs, or other needs while remaining in their homes.
After working hard for the larger part of your life, it’s time to reap the rewards of that hard work. With a reverse mortgage, you are able to access up to 55% of the value of your home as tax-free cash.
The only requirement is that the home with the reverse mortgage attached to it must remain your primary residence. You need to pay the property taxes, maintain home insurance, and keep your property well-maintained - things you would have done anyways!
FACT: 32% of Canadians
are 55 or older
Live Your Retirement Your Way
What can you do with that money?
Enjoy the retirement you deserve
Travel the world
Purchase a vacation property
Pay off your debts
Renovate your home
Take care of unexpected expenses
Help the ones you love
Assist your children in purchasing a home
And anything else you want!
Get started today with the reverse mortgage process by filling out the free consultation form below!
FAQs
Will I continue to own my home?
Yes! The ownership of the home stays with you, it is not transferred to the bank.
No! Some equity will be used, however, as your home continues to appreciate in value over time, equity will also continue to accumulate.
Will I lose all the equity in my home?
The amount of equity will depend on the difference between the home’s current value and the amount owing on the reverse mortgage.
How much equity will I have left?
Will I need to sell my house if my spouse passes away?
The surviving spouse is able to continue with the reverse mortgage, provided both spouses were registered as joint tenants.
