AN OPTION FOR EDMONTON HOMEOWNERS

Reverse Mortgages

Reverse mortgages are designed for clients that are 55 years and over allowing you to access up to 55% of the equity in your property. Instead of you making mortgage payments, your mortgage makes payments to you.

Why Reverse Mortgages Are So Cool

What Is A Reverse Mortgage?

You’ve made your payments and paid down your mortgage, and now you have a substantial amount of equity in your home. A reverse mortgage allows you to take advantage of this equity without having to sell your home. The money you receive is tax-free and yours to use as you wish including:

  • Pay down or off debts,

  • Handle unexpected expenses,

  • Gift a down payment to your children or grandchildren,

  • Increase your monthly income,

  • Take a trip,

  • Complete renovations.

 

No regular payments, no taxes on the borrowed money, and any Guaranteed Income Supplement benefits or Old-Age Security is not affected that you could be getting.

When is a Reverse Mortgage Paid Back?

Reverse mortgages are typically repaid either when you move out of the home or when the last borrower passes away. However, the loan may need to be paid back sooner if the home is no longer your principal residence, you fail to pay your property taxes or homeowners insurance, or do not keep the home in good repair.

TESTIMONIALS

My Amazing Clients

Karen was efficient and great to work with. Trusted information that was appreciated.

Pat R.

Your reverse mortgage options in Edmonton, Sherwood Park, Leduc, Beaumont, Devon, or St. Albert.

Answering All Your Questions About Reverse Mortgages

I'd love to talk to you about how I can put a reverse mortgage together for you or at least explore the options to see if this is a fit.

arrow&v
arrow&v

Thanks for submitting! I will get back to you within the next couple of days.

Your Name (First & Last)

Co-applicant Name (First & Last)

Your Age

Co-applicant Age

Current Market Value of Home

Type of Home

Expected Use of Funds

Address

Best Email to Contact

REVERSE MORTGAGES

Eligibility & Qualifications

Two Primary Requirements
  • You must be a Canadian homeowner

  • You must be 55 years or older (if you have a spouse, both of you must be at least 55 years old to be eligible)

Reverse Mortgage Assessment Factors

Reverse mortgages are typically repaid either when you move out of the home or when the last borrower passes away. However, the loan may need to be paid back sooner if the home is no longer your principal residence, you fail to pay your property taxes or homeowners insurance, or do not keep the home in good repair.

Submit a Reverse Mortgage Quote