Homewise Reverse Mortgages

Canadians can access the equity in their home, by turning a portion of it into an additional source of money for today!

Learn more today

You don’t have to wait for “sometime in the future”.
Unlock the equity you have been building in your home to enjoy today.

What is a reverse mortgage?

A reverse mortgage is a loan for Canadians aged 55+ that enables them to unlock money from their home’s equity without having to sell their home. With loans up to 55% of the value of their homes, without any monthly payments (interest accumulates over time), it is a great way to utilize the cash value they have been building in their home to enjoy today.

Benefits of a reverse mortgage for Canadians

  • Instant tax free money up to 55% of your home’s value
  • Maintain your home ownership
  • No interest payments until you move or sell
  • Flexible borrowing options for your unique situation
  • No min credit score and no income required

You may be eligible if

  • You’re a Canadian home owner
  • You’re over 55
  • Your home is your primary residence
  • You do not have a current mortgage
  • No health check is required

Why Homewise?

At Homewise, we work with multiple lenders, to find the best reverse mortgage option for your unique needs. Further, you will be set up with a personal Advisor from our team to help explain everything at each step, provide unbiased advice and help you get the right option.

Our team will also help you decide if a reverse mortgage is right for you, or if a different mortgage option like refinancing or a line of credit (or no option at all) is best for you.

Is a reverse mortgage right for you?

If a loan is needed, some will consider a Line of Credit. Unlike a reverse mortgage, however, a line of credit often required monthly payments as well as income for qualification. For Canadians looking to access tax-free money, without the need for salary or monthly payment, reverse mortgage may be the right choice.

A reverse mortgage is a great way to unlock finances, but it may not be for everyone. It is a large financial decision and the accumulated interest increases over time. It should always be discussed with loved ones and advisors. You can also learn more in our FAQ section:

Frequently asked questions

Find out how much money could be yours.

Sign up below to speak with one of our Advisors, who will call you to discuss your options further and if a reverse mortgage is right for you.

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