✔ Canadian homeowner with equity in their primary residence ✔ 55 years or older ✔ Home value of $200,000+ ✔ Must live in the home for at least 6 months per year ✔ Satisfactory credit report

❌ No health checks required!

A reverse mortgage lets you access the equity in your home without selling or making monthly payments—the loan is repaid when you sell or move. Want to see if it's the right fit for you? Let me know! 😊

It depends on: ✔ Your age – The older you are, the more you can access. ✔ Your home's value – You can borrow up to 55% of your home's value. The amount you qualify for is unique to you. Want an estimate? Let’s chat! 😊

You have flexible options to receive your money:

✅ Lump Sum – Take it all at once. ✅ Partial Upfront + Draw as Needed – Start with a minimum amount, then access more when required. ✅ Scheduled Payments – Get a steady stream of income over time.

The right choice depends on your needs. Let’s explore what works best for you! 😊

No Required Payments – You don’t need to make any monthly mortgage payments. The loan is repaid when you move, sell the home, or pass away.

🔹 Homeownership Responsibilities – You must maintain the home, keep it insured, and pay property taxes (and condo fees if applicable).

🔹 Voluntary Repayments – You can make payments anytime if you wish to reduce the balance, but it’s not required.

Would you like to explore if this is the right option for you? 😊

Yes, interest adds up over time, but it’s not a scam—it's just how the loan works. Here’s why:

✅ No Monthly Payments – Since you’re not making payments, the interest compounds over time. This is why the loan balance grows.

✅ Built-In Safeguards – Lenders limit how much you can borrow (up to 55% of your home’s value), ensuring you still have equity when selling.

✅ Peace of Mind Over Interest Costs – If accessing home equity helps you live comfortably in retirement, isn’t that worth it? Financial security > worry about interest.

✅ Leaving an Inheritance? – Most children prefer to see their parents financially stable rather than struggling to preserve an inheritance. Plus, equity is still left in most cases.

If your home equity is sitting there and could improve your quality of life, does it really make sense to stress over how much interest might accumulate?

No! That's right! Since the money from a Reverse Mortgage comes from your home equity, it is not considered income and is not taxable in Canada.

This means: ✅ No income tax on the funds you withdraw ✅ No impact on Old Age Security (OAS) ✅ Full access to your home’s value without tax penalties

It’s simply your money, from your home, tax-free!

Setting up a Reverse Mortgage does come with upfront costs, but they are designed to protect you and ensure a smooth process.

Costs:

💰 $995 Setup Fee – Deducted from the mortgage proceeds when the loan closes. 📍 Appraisal Fee (~$350) – Required to determine your home’s current market value. ⚖️ Legal Fees (~$2,500 total for two lawyers) –

1. Independent Legal Advice (ILA) – Ensures you understand the terms and protects you from undue influence.

2. Transaction Lawyer – Registers the mortgage, handles paperwork, and facilitates the funds.
   

Since the fees are taken from the proceeds, you generally don’t need out-of-pocket cash upfront, which helps keep things simple!

*Information can change without notice

That’s a great approach! Bringing in a trusted family member or friend can make the process feel even more comfortable.

💬 Open Discussion – Involve loved ones who support your decision. 🖥 Easy Zoom Access – They can join with just a click. 📊 Full Transparency – Everyone sees the same numbers & details.

It’s all about making sure you feel fully informed and confident in your choices! 😊

Click 'Apply' at the top of the webpage to complete your application. Nikole will guide you through the process from there.