Truth About Canadian Reverse Mortgages

Learn about the truth based on REAL FACTS 

Request your own copy of  your Reverse Mortgage Guide

There's a lot of poor quality information out there about Reverse Mortgages

That's why we prepared your free guide to educate and inform you with the facts

Don't assume your only option is a Reverse Mortgage

Consider other options such as a mortgage, all in one account or home equity line of credit first 

Do a cost benefit analysis to choose your best option

If you don't qualify for other options then consider if a Reverse Mortgage will give you enough money?

Then try our complimentary assessment to see how much you would qualify for

Call us for a frank and open discussion or no obligation phone consultation ask for Andrew at 289 338 0543

 

Your Reverse Mortgage Guide covers the following:

1. The Pros and Cons of Reverse Mortgages in Canada
2. Understand all the Negatives and Positives
3. Understand your alternatives and options and how to compare costs and benefits
4. Compare a reverse mortgage to a conventional mortgage, ALL-IN-ONE account and HELOC  (Home Equity Line of Credit)
5. How Canadian Reverse Mortgages are different than US ones 
6. How a Reverse Mortgage works in Canada
7. Give you a clear understanding of all the facts before you make a decision
8. How to use reverse mortgages and TFSA's to increase your tax free income

 

What is A Reverse Mortgage?

A Reverse Mortgage is home loan is only available to people in Canada over the age of 55.It is called this because you don't have to make monthly payments. The key features are:

1. Its specifically for seniors or folks closer to retirement
2. Only for borrowers older than age 55
3. The older you are the more you qualify for
4. No monthly payments
5. Interest is charged and added to your loan amount owed
6. You can borrow a maximum of 55% of the value of your home depending on where you live
7. You can blanket and include up to 3 properties including your principle residence home and 6 rental units 
8. You must live in your principle residence
9. All payments are are completely tax free even on rental properties

 

Frequently Asked Questions about Reverse Mortgages

Read our blog on your top 10 Reverse Mortgage Questions