Reverse Mortgages
Mortgages Made Easy
Unlike a traditional mortgage where you make payments to a bank or someone else, a reverse mortgage allows you to access funds without the need to make payments. You can use the money in anyway you see fit and live your retirement comfortably knowing you don't need to leave your home.
We can help!
What is a Reverse Mortgage?
It's a financial solution designed for Senior Canadian homeowners
a reverse mortgage allows you to access funds without the need to make payments. You can use the money in anyway you see fit and live your retirement comfortably knowing you don't need to leave your home. The amount that you can borrow depends on your age and value and location of your home.
Do you need funds to renovate your home, consolidate debt, pay some bills, give your family a financial gift or supplement your current income? A reverse mortgage can help.
Click here to see our frequently asked question section.
I can help you review the different options and benefits from the different lenders that offer reverse mortgages. The lenders have different rates and fees, let's see which one is best for you. As a thank you for allowing me to assist you, all funded mortgages receive a $200 gift card of your choice. In addition to the $200 gift card, CARP and Legion members may receive further rebates.
Set up a time with me using Calendly to discuss your situation and your goals.
Reverse Mortgage Quick-Facts and Features
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1
Tax Free Money
The money you receive does not constitute a part of your taxable income, meaning that your Old Age Security (OAS) and Guaranteed Income Supplement (GIS) is not affected.
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2
Maintain Ownership of Your Home
Contrary to popular belief, you will not lose your home with a Canadian reverse mortgage. You'll never be asked to move or sell to repay your Reverse Mortgage. The requirement is to maintain your property and stay up-to-date with property taxes, fire insurance and condominium or maintenance fees while you live there.
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3
Use The Money Anyway You Wish
A reverse mortgage can help you enjoy your retirement or cover unexpected expenses. Pay for medical bills, upgrade your home, help family and loved ones, travel and pay monthly expenses without depleting your current savings. The only condition is that any outstanding loans secured by your home must be paid out with the proceeds from your Reverse Mortgage.
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4
Keep All Remaining Home Equity
In many years of experience, 99 out of 100 homeowners have money left over when their RReverse Mortgage is repaid. And on average, the amount left over is 50% of the value of the home when it is sold.
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5
Basic Qualification
To qualify you must be a Canadian home owner, 55 years of age or older. The age qualification applies to both you and your spouse. Get up to 55% the value of your home; No credit, no health check and no income needed. Your home must be your primary residence. Click here to get started on your free qualification and rate estimate report.
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6
No Repayment While Living In your Home
Regular mortgage payments are not required while you or your spouse are living in the home. The full amount only becomes due when you and your spouse no longer live in the home.
Click here for our frequently asked question section
Tom Williams
Mortgage Agent Level 2 - M18002831
Your Ontario Reverse Mortgage Financing Expert
I can place all types of mortgages including reverse mortgages, purchase, refinances, equity takeouts, debt consolidations, renewals and mortgages for self employed. Call today and get a free quote and overview of current market conditions affecting the mortgage market!
Since my business is built primarily through referrals from satisfied customers, your positive mortgage experience is essential! Your mortgage is a big decision and a powerful financial tool.
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