Reverse Mortgages Canada
Borrow money from your home equity, without selling or having to move out, with a Reverse Mortgage in Canada.
What Is A Reverse Mortgage?
A reverse mortgage allows homeowners to borrow money against the equity in their home without to make mortgage payments, often called "Equity Release"
Your age, home location, and value, will determine how much you can borrow, sometimes up to 55%.
The reverse mortgage comes due when you move out your home, the last borrower passes on, or you sell your home.
The Benefits of Reverse Mortgages
There are many benefits to how a reverse mortgage works
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No Monthly Payments
The balance becomes due when the last homeowner passes away or moves from the home.
Friendly Interest Rates
Reverse mortgage rates are reasonable and friendly, and it is simply added to the outstanding balance.
Don't Need To Sell Your Home
When you take a reverse mortgage you can stay in your own home for life.
Tax Free Cash
The equity you get from a reverse mortgage is tax free cash. You don't need to worry about any unexpected taxes.
Doesn't Effect OAS or GIS
The money won't affect the Old-Age Security (OAS) or Guaranteed Income Supplement (GIS) benefits if you are receiving them.
Use The Money How You Like
Use the money to pay off debts, do home repairs, cover healthcare or use it to help with your bills.
Are You Eligible For A Reverse Mortgage?
To meet the requirements for a reverse mortgage you must be:
At least 55 years old.
A homeowner
What if the mortgage owed is higher than the value of my home?
You'll never owe more than your home's market value
We will review with you all of the Home Equity Lender's guarantees before you sign
Stay in your home for life
Applying for a reverse mortgage?
Applicants are required to be 55+ Canadian homeowners.
If applicable, we need to know a little bit about you and your situation, then we can explain how much of your home's equity you can access.
We'll work with you to try and access up to 55% of your home's value!
Our Process - 4 Simple Steps
1. Get In Touch With Us.
You can call, book a Zoom meeting or fill out our secure application online.
2. How Much Equity Can You Access?
Your application will be examined and we will contact you to discuss your application and together we will determine the best financial solution for you and your spouse.
3. Multiple Reverse Mortgage Lenders and Options
As your mortgage broker, we will contact all the lenders to determine who will give you the best rate and the lowest fees.
4.Equity Unlocked
You'll complete the papers with a lawyer's assistance, and money will be paid into your bank account.
Let's talk about the next move
Contact us so we can discuss all your options and get your application started today