Home / Reverse mortgage
Reverse mortgage, 55+Stay in your home. Use your equity.
A reverse mortgage lets homeowners 55 and over turn part of their home equity into tax free funds, with no regular mortgage payments required for as long as they live in the home. I will help you and your family decide whether it truly fits your plans.
Is this right for you?
Supplement retirement income
Monthly or lump sum funds to make retirement more comfortable.
Home improvements
Make the home safer or more comfortable to age in place.
Health care costs
Cover care at home or other health related expenses.
Help family
An early inheritance or help with a first home.
Clear steps, no surprises.
Quick questionnaire
A few questions about your home and ages.
Estimate
I give you an idea of what may be available based on your age, home and location.
Independent legal advice
You sign with your own lawyer, and family is welcome to be involved.
Funds released
The lawyer disburses funds as a lump sum or over time.
See how much you qualify for.
Share a few basic details and I will run a report and send you a personal financial illustration. No obligation, and it is not an approval.
What to weigh carefully
Options, not pressure. I will lay out the trade offs, including when the right answer is to wait.
math first, always
Interest is added to the balance
With no payments, the balance grows over time, which reduces the equity left in the home.
Penalties can apply if you repay early
I walk through the penalty schedule and setup costs in writing before you commit.
Compare other options too
A HELOC or downsizing may suit you better. I will lay them out side by side.
Common questions
How much can I get?
Typically up to about 55% of your home's value, depending on your age, your spouse's age, the home's location, type and appraised value. Younger borrowers generally qualify for less.
Will it affect OAS or GIS?
Reverse mortgage funds are generally not considered taxable income. Confirm your own situation with your accountant.
Do I need income or good credit?
Qualification is based mainly on the equity in your home and your age, rather than income. Lenders still review the property and title.
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Ready when you are.
Start your application online, or book a relaxed conversation first. No pressure either way.
Prefer the phone? Call 613-714-9499. Office visits by appointment.