Reverse Mortgages
Unlock the equity in your home while continuing to live there. No monthly payments required. Designed for Canadian homeowners 55 and older.
Learn If You QualifyHow a Reverse Mortgage Works
A reverse mortgage lets you convert up to 55% of your home's value into tax-free cash without selling or moving.
Application
Complete a simple application with basic information.
Home Appraisal
Determine your home's value to calculate borrowing amount.
Receive Funds
Get money as lump sum, scheduled payments, or combination.
Enjoy Retirement
Continue living in your home with no monthly payments.
Benefits of a Reverse Mortgage
Stay in Your Home
Maintain ownership and live in your home as long as you wish.
No Monthly Payments
Loan is repaid when you sell or leave the home.
Tax-Free Funds
Funds received won't affect your OAS or GIS benefits.
Equity Protection
Never owe more than your home's value.
Am I Eligible?
Requirements:
- You or your spouse is 55 or older
- You own your home
- The home is your primary residence
- Sufficient home equity
Eligible Properties:
- Detached houses
- Semi-detached & townhouses
- Condominiums
- Some rural properties
Frequently Asked Questions
What happens when I die or sell the home?
The loan becomes due when you sell, move out, or pass away. Your estate or heirs can pay off the loan or sell the home. Any remaining equity belongs to you or your heirs.
Will I still own my home?
Yes! You retain full ownership and your name stays on the title. You're responsible for property taxes, insurance, and maintenance.
Can I owe more than my home is worth?
No. Canadian reverse mortgage products include a "no negative equity guarantee" protecting you and your heirs.
What are the eligibility requirements?
You or your spouse must be 55+, own your home, and it must be your primary residence with sufficient equity.
Discover How Much You Can Access
Get a free, no-obligation assessment to see if a reverse mortgage is right for you.