Our Reverse Mortgage Rates Are Low & Our Process is Quick & Painless

A reverse mortgage is a type of loan that allows Canadian homeowners aged 55 and older to access the equity they have built up in their homes. With a reverse mortgage, the lender advances the homeowner a portion of that equity — as a single lump sum, or a lump sum now with further advances available later — based on the value of the home, its type and location, and the age of the youngest owner on title. Any existing mortgage is paid out from the proceeds. How much you can access depends mainly on the youngest owner’s age.

The loan does not have to be repaid until the homeowner sells the home or passes away. At that point, the loan, plus interest, is paid back to the lender from the proceeds of the sale.

We’re here to make the reverse mortgage process a whole lot easier, with tools and expertise that will help guide you along the way, starting with our FREE Reverse Mortgage Qualifier.

We’ll help you clearly see differences between reverse mortgage options, allowing you to choose the right one for you.

The Reverse Mortgage Process

Here’s how our reverse mortgage process works:

• Complete our simple Reverse Mortgage Qualifier
• Receive options based on your unique criteria and scenario
• Compare mortgage interest rates and terms
• Choose the offer that best fits your needs

A reverse mortgage pays off your existing mortgage, should you have one, by allowing you access to the home equity you’ve worked so hard to build. Any money left after paying off your existing mortgage is available to use as you see fit.

There are several important considerations for anyone considering a reverse mortgage in Canada. First, the interest rates on these loans tend to be higher than on traditional mortgages. Additionally, since the loan does not have to be repaid until the homeowner sells the home or passes away, the amount owed can grow over time, potentially reducing the equity that the homeowner’s heirs will inherit.

It is important to carefully consider all of these factors and to get independent legal advice — which is required in Canada before you sign — and to speak with a licensed mortgage broker before deciding whether a reverse mortgage is the right choice for you.

• Full or Partial Lump Sum
• Line of Credit
• Monthly Payments
• Combination of Any of These

You have the option to change your disbursement method at any time.