How to QualifyHow To Qualify for a Reverse Mortgage in Canada

  • Both registered homeowners must be at least 55 years or older, with no maximum age limit

  • The maximum loan amount is 55% of the appraised value of the home, dependent upon the age of the borrowers. 

  • The home must be your principal residence and have a market value of at least $150,000.

  • The reverse mortgage must be registered as a first mortgage on title and all deferred property taxes up until the date of the loan must be paid. The reverse mortgage proceeds can be used to pay current secured debt.


    Second Mortgage Financing Option

    In the event the reverse mortgage funds are not enough to pay out the existing first mortgage, we are able to help you with possible second mortgage financing to assist in paying current secured debt. While the second mortgage would require monthly payments, it is possible the payments would be  lower than your current monthly mortgage payments. 
     

Let us help you achieve financial freedom

From start to finish, barring any unforseen complications, the entire process is quick and you recieve your fund in less than one month, sometimes even quicker.

To begin the process it is as simple as calling 1-855-770-3225, sending us an e-mail, or filling in our questionnaire so that we may contact you.  We are Certified Reverse Mortgage Specialists and fully licenced mortgage brokers specializing in helping seniors meet their financial goals.