Reverse Mortgage Solutions for Canadian Homeowners 55+

Enjoy Retirement on Your Terms with a Reverse Mortgage

Wouldn’t it be nice to have the money to do more of what you love? Whether it’s traveling, helping your family, making home upgrades, or simply enjoying life with less financial stress, a Reverse Mortgage could be just what you need.

A Reverse Mortgage is a smart, secure, and flexible way for Canadians 55+ to access the equity in their homes—tax-free—without having to sell, downsize, or make monthly mortgage payments.

✅ Key Benefits of a Reverse Mortgage

  • Tax-Free Cash: The money you receive is not taxable and won’t affect your Old Age Security (OAS) or Guaranteed Income Supplement (GIS).

  • Use the Money Your Way: Travel, renovate your home, pay off debts, cover unexpected expenses, or gift early inheritance—it’s your choice.

  • No Monthly Payments: You’re not required to make regular mortgage payments as long as you or your spouse lives in the home.

  • Stay in Your Home: Maintain full ownership and control. There’s no need to move or sell unless you choose to.

  • Keep Your Equity: On average, homeowners keep 50% of their home’s value when the reverse mortgage is repaid. 99 out of 100 clients have equity left over.

💡 Smart Ways to Use a Reverse Mortgage

A reverse mortgage isn’t just for emergencies—it can be a strategic financial tool. Here are some popular uses:

  • 💳 Debt Consolidation – Eliminate high-interest debt or pay off an existing mortgage

  • 🛠 Home Renovations – Make your home more comfortable or accessible as you age

  • 👨‍👩‍👧 Family Support – Help children or grandchildren with education, home purchases, or life milestones

  • ✈️ Travel and Lifestyle – Enjoy more freedom in your retirement without worrying about cash flow

  • 🧘 Peace of Mind – Have a financial buffer for future healthcare or long-term care expenses

🧾 Frequently Asked Questions

How does it work?
A Reverse Mortgage is secured against your home’s equity. Instead of making payments, you receive cash. The full loan amount only becomes due when you and your spouse no longer live in the home.

Who qualifies?
Homeowners aged 55+ (both spouses must qualify). Your home must be your primary residence.

How much can I get?
Up to 55% of your home’s value. The exact amount depends on your age, your home’s location, type, and appraised value. Contact me today for a quick, no-obligation estimate.

How do I receive the money?
You can receive:

  • A one-time lump sum

  • Planned monthly/quarterly advances

  • A combination of both

Will I ever owe more than my home is worth?
With the Reverse Mortgage’s No Negative Equity Guarantee, you’ll never owe more than the fair market value of your home when it is sold.

Does the bank own my home?
No. You retain full title and ownership. Just continue living in your home and keep up with property taxes, insurance, and maintenance.

Can I use it to pay off an existing mortgage?
Yes. Many clients use their reverse mortgage funds to eliminate current mortgages or home equity lines of credit.

Are reverse mortgages only for financial hardship?
Not at all! Many financial professionals now recommend reverse mortgages as part of a well-rounded retirement strategy.

Are there any fees?
There are one-time setup costs, including:

  • Appraisal fee

  • Legal advice

  • Administration, title insurance & registration fees (usually paid from the mortgage proceeds)

📞 Let’s Chat About Your Options

A reverse mortgage could give you the freedom and flexibility you deserve in retirement. Whether you’re curious about how much you qualify for, or ready to get started, I’m here to help.

Contact me today to book your free consultation and discover what a Reverse Mortgage can do for you.

📧 Email: pattymortgages@outlook.com
📱 Phone: 604-767-7765
📍 Serving clients across Canada