A reverse mortgage is a loan secured against your home's value that provides tax-free cash without requiring monthly payments.
Keep Your Home
You maintain ownership and title to your property while accessing its equity.
Regulated Products
Legally regulated financial products offered by established Canadian institutions.
Who Is Eligible?
Age 55+
All homeowners must be at least 55 years old
Primary Residence
Your home must be your principal residence
Home Value
Access up to 59% of your home's appraised value
Eligibility is straightforward for most Canadian homeowners who meet these criteria. The exact loan amount will depend on your age, property location, home condition, and current market values.
Key Benefits for Canadian Homeowners
Access Your Equity
Unlock up to 55% of your home's value as tax-free cash without selling your property.
No Monthly Payments
Keep your retirement budget intact with no required mortgage payments as long as you live in your home.
Complete Freedom
Use funds however you choose: debt consolidation, home improvements, healthcare expenses, or enriching your retirement lifestyle.
Rates, Fees & Costs in Canada
Costs may vary based on property location, complexity, and current promotions. Some lenders offer incentives that can reduce or eliminate certain fees.
Initial discussion to assess your needs and explore options
Appraisal
Professional evaluation of your home's current market value
Legal Review
Independent legal advice ensures you understand all terms
Funding
Receive your money as a lump sum or scheduled payments
The entire process typically takes 3-4 weeks from application to funding, with professional guidance every step of the way.
Frequently Asked Questions
Will a reverse mortgage affect my government benefits?
No. Since the funds are considered a loan rather than income, your Old Age Security (OAS), Guaranteed Income Supplement (GIS), and Canada Pension Plan (CPP) benefits are not affected.
What happens if I move, sell, or pass away?
The reverse mortgage becomes due when you sell your home, move out permanently, or upon the passing of the last borrower. At that point, the loan plus accumulated interest must be repaid from the sale proceeds of your home.
Can my family inherit my home?
Yes. Your heirs can choose to repay the reverse mortgage and keep the home, or sell the property to repay the loan and keep any remaining equity. The non-recourse guarantee ensures you'll never owe more than your home's fair market value.