What is a Reverse Mortgage?
A reverse mortgage is a unique borrowing solution designed specifically for homeowners 55+ who would like to remain in their home while also being able to access some of its equity without having to make regular payments. All other lending products on the market today that enable homeowners to tap into home equity – such as a home equity line of credit or mortgage refinance – require regular payments. Borrowers must also qualify based on their income and credit score. With a reverse mortgage, you can access up to 55% of the value of your home and your credit is rarely a factor. You have the option of taking out less equity even if you qualify for the maximum amount.
How Does a Reverse Mortgage Work?
A reverse mortgage enables you to access up to 55% of your home’s equity tax-free to use however you choose. Your current pension or other income is not impacted (including Old Age Security and Guaranteed Income Supplement). In order to determine if you’re eligible to receive a reverse mortgage, your provider will look at your age as well as the age of your spouse (if applicable), your home’s location and value, and your property type. With a reverse mortgage, you’ll always retain control over your home, which means you’ll never be forced to sell. You must, however, continue to maintain your property and pay the taxes and insurance. You’re only required to pay back the loan when you decide to sell or if you leave your home. And the reason access to your home equity is capped at 55% is to ensure your balance owing on your reverse mortgage doesn’t exceed the home’s fair market value.
How Do I Qualify for a Reverse Mortgage?
If you and your spouse are both 55+ and own your home, you may be eligible to access up to 55% of your home’s equity in tax-free cash. Qualification relies on a number of factors concerning your home, including it’s value, location and property type.
Your Home, Your Financial Power:
Enjoy a Worry-Free Retirement
BENEFITS OF A REVERSE MORTGAGE
✓ Access to tax-free cash without selling or downsizing, preserving your lifestyle
✓ No monthly mortgage payments required, freeing up cash flow
✓ You retain full ownership of your home
✓ Flexible disbursement options: lump sum, scheduled payments, or ad hoc advances
Empower Your Retirement
Take control of your financial future and enjoy a fulfilling, independent retirement. A reverse mortgage helps you unlock the potential of your home equity—giving you the freedom to live life on your terms.
The Golden Triangle of Happiness
Imagine a retirement where you enjoy financial stability, nurture strong relationships, and pursue your passions. Our reverse mortgage solutions support your journey to a well-rounded and happy retirement.
Unlock Home Equity Wealth
With over $2.5 trillion in home equity across Canada, your home isn’t just where you live—it’s a powerful asset that can provide financial security and open up new opportunities.
Reverse Mortgage Advantages
Tax-Free Cash & No Monthly Payments: Access cash without disrupting your existing investments.
Flexible Use: Whether it’s debt consolidation, home improvements, travel, or supporting family goals, your funds can be used as you see fit.
Age in Place: Stay in the home you love while enjoying added financial freedom.
Tailored Solutions for Evolving Needs
As your life priorities shift—from building financial security to achieving personal fulfillment and leaving a lasting legacy—our reverse mortgage options are designed to adapt to your unique journey.
Partner with the Experts
Together, our financial planners and trusted mortgage brokers are here to guide you every step of the way, ensuring you fully understand how to leverage your home’s equity for a rewarding and secure retirement.
Meet Gail & Ronald
After saving for 40 years, we thought we had enough for a comfortable retirement. To our surprise, last year we learned
we only had enough to last us for the next 4 years. We had few options and feared we’d end up living a lifestyle we didn’t want. That was when we discovered that we could access some of the equity in our home, which had significantly increased in value since we moved in. And best of all, we can enjoy our home for as long as we want.
Common FAQs
Will I still own my home if I get a reverse mortgage?
You can access up to 55% of your home’s appraised value, depending on factors such as your age, home location, and the type of property.
How much money can I access with a reverse mortgage?
You only repay the loan when you sell your home, move out, or no longer live in the home. Until then, no regular monthly mortgage payments are required.
When do I need to repay the loan?
The funds are tax-free and can be used however you like—whether it’s covering daily expenses, paying for medical care, consolidating debt, or helping a loved one with a down payment.
