Reverse Mortgages in Canada

For Canadian homeowners 55+ who want to access their home equity without monthly payments. Stay in your home while converting equity into tax-free cash — for retirement, renovations, debt consolidation, or whatever you need. We work with multiple reverse mortgage lenders to get you the best rates and highest LTVs, with access to up to 55% of your home's value and no impact on your OAS, GIS, or other government benefits. Our team explains every detail clearly, ensures you understand how the loan works over time, and helps you choose between lump sum, monthly advances, or a combination based on your retirement plan.

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For 55+

Access Your Equity Without Monthly Payments

You've spent decades building equity in your home. A reverse mortgage lets you access that equity tax-free while continuing to live in and enjoy your home — with no monthly payments required.

55+

Minimum Age

55%

Of Home Value

Tax-Free

Proceeds

Monthly Payments

Stay in Your Home

A reverse mortgage lets you access your equity while continuing to live in and enjoy your home. No selling, no downsizing, and no disruption to your life. You maintain full control of your property and can stay for as long as you wish — the loan only becomes due when you choose to sell, permanently move, or pass away.

No Monthly Payments

Unlike a traditional mortgage or HELOC, a reverse mortgage requires no monthly payments at all. The loan balance (principal plus accrued interest) is repaid from the proceeds when the home is eventually sold. This eliminates a major monthly expense and frees up cash flow for living expenses, travel, healthcare, or whatever matters most to you in retirement.

Tax-Free Funds

Reverse mortgage proceeds are considered a loan, not income, so they are completely tax-free. This means they will not affect your Old Age Security (OAS), Guaranteed Income Supplement (GIS), Canada Pension Plan (CPP), or any other government benefits. This is a significant advantage over withdrawing from RRSPs or RRIFs, which trigger taxable income and may claw back your OAS.

No Negative Equity Guarantee

Canadian reverse mortgage programs include a No Negative Equity Guarantee. This ensures you will never owe more than the fair market value of your home at the time it is sold, as long as you have maintained the property and met the standard mortgage conditions. Your estate and heirs are fully protected from any potential shortfall.

Flexible Disbursement

Receive your funds as a single lump sum for immediate needs, set up scheduled monthly advances to supplement your retirement income like a personal pension, or choose a combination of both. Some homeowners take an initial lump sum to pay off existing debt and then receive monthly advances for ongoing living expenses. We help you structure the disbursement to match your financial plan.

Maintain Ownership

You remain the registered owner of your home on title and can sell at any time you choose. The reverse mortgage is simply a secured loan against your property — it does not transfer any ownership to the lender. You are free to renovate, rent out a portion, or make any decisions about your home just as you always have.

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Eligibility

Reverse Mortgage Requirements

Canadian reverse mortgages have straightforward eligibility criteria designed for homeowners in retirement. Here is what you need to qualify and how we guide you through the entire process.

Requirements

All borrowers on the title must be 55 years of age or older — the older you are, the higher percentage of your home's value you can access
The property must be your primary residence where you live for at least 6 months of the year
Your home must be in a location and condition acceptable to the lender — most single-family homes, townhouses, and condos in urban and suburban areas qualify
Any existing mortgage or secured debt on the property must be paid off from the reverse mortgage proceeds at closing
Property taxes and homeowner's insurance must be kept current for the duration of the reverse mortgage
The home must be properly maintained in reasonable condition as a condition of the mortgage agreement
Independent legal advice is required before closing to ensure you fully understand the terms and implications of the reverse mortgage

How We Help

We explain the reverse mortgage in plain language and ensure you understand how interest accrues, how much equity remains over time, and what happens at the end
Our team provides a detailed comparison showing the reverse mortgage versus selling your home, downsizing, or drawing from RRSPs/RRIFs
We calculate exactly how much you can access based on your age, property value, and location — with no obligation and no cost for the consultation
We help you structure the disbursement as a lump sum, monthly advances, or a combination based on your retirement income needs
We ensure your existing mortgage (if any) is paid off from the reverse mortgage proceeds so you immediately eliminate your monthly payment
Our team coordinates the appraisal, legal process, and closing so you receive your funds as quickly as possible
We involve your family members in the conversation if you wish, so everyone understands the product and feels comfortable with the decision

FAQ

Questions About Reverse Mortgages

Everything you need to know about reverse mortgages in Canada.

How It Works

A reverse mortgage lets homeowners 55+ convert up to 55% of their home's value into tax-free cash without selling or moving. No monthly mortgage payments are required — the loan (plus interest) is repaid when you sell the home, move out, or pass away. You maintain full ownership and can stay in your home for life. We work with multiple reverse mortgage lenders to ensure you get the best rates and highest loan-to-value available.

You can access up to 55% of your home's appraised value. The exact amount depends on your age (older borrowers qualify for a higher percentage), your home's location and value, and the type of property. For example, a couple both aged 70 with a $600,000 home might qualify for $200,000-$330,000. We provide a detailed estimate based on your specific circumstances before you commit to anything.

Protection & Tax Benefits

Canadian reverse mortgage programs include a No Negative Equity Guarantee. This means you will never owe more than the fair market value of your home at the time it is sold, as long as you have maintained the property and met the standard mortgage conditions. Even if your loan balance grows due to accrued interest and your home value declines, your estate and heirs are fully protected from any shortfall.

No. Reverse mortgage proceeds are considered a loan, not income, so they are completely tax-free. This means they will not affect your Old Age Security (OAS), Guaranteed Income Supplement (GIS), Canada Pension Plan (CPP), or other government benefits. This is a key advantage over selling assets, withdrawing from RRSPs or RRIFs, or triggering capital gains — all of which create taxable income that can reduce your government benefit entitlements.

Reverse mortgage rates are typically higher than traditional mortgage rates — usually 1-3% above conventional fixed-rate mortgages. Both fixed and variable rate options are available, with terms typically ranging from 6 months to 5 years. While the rates are higher, the absence of monthly payments and the tax-free nature of the funds often make a reverse mortgage more cost-effective than the alternatives, such as selling your home or drawing from registered retirement accounts.

Common Uses & Estate Planning

Yes. Many Canadians use a reverse mortgage to pay off their existing mortgage and eliminate their monthly payment entirely. If you have a $150,000 remaining mortgage on a home worth $600,000, the reverse mortgage would first pay off that balance, then give you access to the remaining available equity as tax-free cash. This is one of the most common uses — it instantly improves your monthly cash flow by removing your mortgage payment.

When the last borrower on the reverse mortgage passes away, the estate has up to 180 days (6 months) to repay the loan, typically by selling the home. Any equity remaining after the loan is repaid belongs to your estate and heirs. With the No Negative Equity Guarantee, your heirs will never be responsible for any amount beyond the home's fair market value. We recommend discussing estate planning with your family and a lawyer so everyone understands the process.

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