Reverse Mortgage

Reverse mortgage, is among the best ways for seniors 55+ to get the financing help that they need, no income, and no monthly payments required

The reverse mortgage has experienced an extraordinary increase in demand and for very good reasons, our borrowers are very satisfied with this product

Ideas on what you could use your reverse mortgage funds for

• • Any medical expenses to take care of yours or your family’s health
  • Help your own or your family with their finances
  • Home improvements
  • Better manage your cash flow
  • Investing
  • Arrange final arrangements
  • Traveling

Why make interest payments?
There are a number of important benefits:
* You reduce the amount owing at the end of your reverse mortgage
* You have the comfort of knowing that your interest payment is a fixed amount that can only
change if you choose to access more funds or switch interest rate options during the year.
We will notify you of the new payment amount.
* You have the security of knowing that you can stop making pre-authorized payments
at any time without affecting your reverse mortgage.

What is the payment amount?
Payments are due monthly. We will estimate the amount of interest that will accrue over the next
12 months to determine the monthly payment amount.

The funds are available to the homeowner in a very short time after the application, and all the process can be done from the comfort of their home.

The purpose of the funds is up to the homeowner but, here below we enlist some common reasons.

91% of Canadian Boomers do not want to sell their home

•         A study by CBC found that 91% of Canadian Boomers do not want to sell their home.
•         As home values continue to rise in Canada, many senior women have tapped into the equity in their home.
•         Low-income seniors that do not qualify for a traditional mortgage or secured line of credit often are placed into private loans with higher interest rates, high closing costs, and annual renewal fees.

Is reverse mortgage good?

The Reverse mortgage is simply fantastic, for a number of reasons, but most of all, because it provides easy and secured the access to funds through the equity that is already owned

How is the mortgage loan repaid?

The mortgage rates have always been lower than the rate of the equity increase and homeowners can choose whether or not to make repayments to the mortgage. The loan and interests can also be repaid when the house is sold or inherited to other owners.

Call for a Free personal consultations, no pressure to commit, just detailed information is provided at the meeting to show you the reverse mortgage fees and qualifications

Here are the highlights of the Home Equity Income Advantage:

• Exclusively for homeowners 55 and older
• There are no credit or income qualifications
• You can access up to 50% of the value of your home
• You receive the money tax-free
• You can take the money as monthly cash flow and as a series of lump sums
• No payments are required while you or your spouse live in your home
• You maintain ownership and control of your home
• You keep all the equity remaining in your home
• Your estate is well protected
• You can save on taxes

We offer the Home Equity Income Advantage in partnership with HomeEquity Bank.

HomeEquity Bank is a schedule I Canadian Bank and is the only national provider of reverse mortgages to homeowners aged 55 and over

HomEquity Bank’s product line is now officially endorsed and recommended by CARP as a trusted financial solution!

How much can you borrow on a reverse mortgage loan?

Click here to try a free pre-approval reverse mortgage calculation and find out how much funds you ca access from your own equity

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How much can you be pre-approved for?

 

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