If you're 55 or older, a reverse mortgage could give you access to the equity you've built in your home—without selling or moving.
A reverse mortgage is a special type of loan for homeowners 55 and older. Instead of making monthly payments to a lender, the lender makes payments to you—based on the equity in your home.
You stay in your home, keep the title, and receive funds as a lump sum, regular payments, or a line of credit you can access when needed.
Unlike traditional mortgages, you don't make monthly payments. The lender pays you instead.
You keep full ownership and can stay in your home as long as you want. No forced selling.
Get funds as a lump sum, regular payments, a line of credit, or a combination—whatever works for you.
You must be 55 or older and own your home outright or have a low mortgage balance. Your home must be your primary residence in Canada.
We order a professional appraisal to determine your home's current market value. This helps us calculate how much equity you can access.
You can take your funds as a lump sum, regular monthly payments, or a line of credit you can access when needed. You decide what works best for your needs.
Unlike a regular mortgage, you don't make monthly payments. The loan is repaid when you sell your home, move out, or pass away—from the home's sale proceeds.
You remain the owner of your home. Any remaining equity after the loan is repaid goes to you or your heirs. You can sell or move anytime.
No. You keep full ownership of your home. The lender has a claim against the home, but you remain the owner. You can sell or pass the home to your heirs anytime.
The process typically takes 2-4 weeks from application to funding, depending on the appraisal and documentation requirements.
You can move anytime. When you sell the home or move out, the loan is repaid from the sale proceeds. Any remaining equity goes to you or your heirs.
There are upfront costs including appraisal, legal fees, and insurance. These are typically deducted from your funds. We'll explain all costs upfront—no surprises.
Generally, a reverse mortgage doesn't affect Old Age Security (OAS) or Canada Pension Plan (CPP). However, it may affect income-tested benefits like the Guaranteed Income Supplement (GIS). We recommend consulting with a financial advisor.
Get a free estimate of how much equity you could access. No obligation, no pressure—just honest information.
