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.

We find your best option from multiple providers
Equitable Bank
Home Equity
Home Equity Chip

Find out how much money could be yours.

Sign up to find out how much equity you can access. One of our Advisors will call you to discuss your options further, and together, determine if a reverse mortgage is right for you.

By joining you agree to our terms of service.

What is a reverse mortgage?

A reverse mortgage is simply a loan for Canadians aged 55 or better that enables them to unlock tax-free money from their home’s equity. It’s just like a traditional mortgage or HELOC but with the option of making payments. With a loan up to 55% of the value of their home, borrowers can choose whether to make payments or let the expected home value increases take care of the interest costs.

A reverse mortgage gives you access to the equity that has built up over the years. Whether it is to pay existing debts to reduce payments, or provide another stream of income, or provide an early inheritance to a family member, it is a great way to utilize the cash value your home has been building to enjoy today.

Benefits of a reverse mortgage for Canadians

  • Tax free money up to 55% of your home’s value
  • Maintain ownership and control of your home
  • Payments are Flexible – if no payments made, the interest gets paid when you decide to move or sell
  • Flexible borrowing options for your unique situation
  • No min credit score and no minimum income required
  • Simple qualification based on your age and home details

You may be eligible if

  • You’re a Canadian homeowner
  • You and your spouse are over 55
  • Your home is your primary residence

Why Homewise?

At Homewise, we work with multiple lenders, to find the lending option for your unique needs. Further, you will be set up with a personal Advisor to help explain everything at each step, provide 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 today and in the future. Whatever the situation, we can help you to identify the tool that will serve you best and ensure you clearly understand your options and why one may be better than another.

Is a reverse mortgage right for you?

As Homewise has access to a variety of lending products, our advisors are geared toward finding the right one for you. Reviewing the benefits and drawbacks of any product is important, especially for Canadians 55 or better as making the right decision is critical. It is important to fully understand what our clients hope to achieve so that we can find the product that suits them best. As an example, some will consider a Line of Credit, however, a line of credit often required monthly payments as well as income for qualification. Understanding your situation will help us identify whether a reverse mortgage is right for you.

A reverse mortgage is a great way to unlock finances, access tax-free cash, improve cash flow and provide money to your loved ones, but it is a big financial decision. It should be discussed with loved ones and advisors. Rest-assured, every reverse mortgage borrower must get Independent Legal Advice before finalizing their mortgage.

Learn more in our FAQ section: CLICK HERE TO VIEW

Find out how much money could be yours and speak with one of our Advisors.

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.

By joining you agree to our terms of service.