Solutions · Equity & Retirement
Your home can work for you in retirement.
A reverse mortgage lets BC homeowners aged 55 and older stay in their home while converting equity into tax-free funds. No monthly mortgage payments. We provide honest, no-pressure guidance on whether it's the right tool for you.
- Age 55+ only
- No monthly payments
- Tax-free proceeds
Your home can work for you in retirement.
For homeowners 55 and older, a reverse mortgage can provide financial flexibility without selling or downsizing.
Many BC homeowners are equity-rich but income-thin. You have built significant wealth in your home, but accessing it traditionally means selling, downsizing, or taking on debt with monthly payments.
A reverse mortgage is different. You receive funds from your home equity — as a lump sum, scheduled payments, or both — and you don't make any monthly mortgage payments. The loan is repaid when you sell, move out, or your estate settles the property.
How it works
How we approach a reverse mortgage.
Assessment
We review your age, property value, and goals to determine how much equity you can access and whether a reverse mortgage is the right tool for your situation.
Clear comparison
We compare reverse mortgage options and walk you through the costs, terms, and long-term implications so you can make an informed decision. If it's not the right fit, we'll say so.
Funding
Once approved, you receive your funds with no monthly payment obligation. You retain full ownership of your home.
What you get
What a reverse mortgage offers.
Stay in your home
You retain full ownership and can continue living in your home for as long as you choose.
Tax-free funds
Reverse mortgage proceeds are not considered income, so they do not affect your OAS or GIS benefits.
No monthly payments
Unlike a HELOC or traditional mortgage, there are no monthly payments. Interest accumulates on the balance.
Flexible disbursement
Receive funds as a lump sum, scheduled advances, or a combination based on your needs.
Independence
Maintain your lifestyle and financial independence without relying on family support or government programs.
Equity protection
You will never owe more than the fair market value of your home. Most borrowers retain significant equity.
How a reverse mortgage works.
The mechanics, in plain language.
A reverse mortgage allows homeowners aged 55 and older to borrow up to 55% of their home's appraised value. The amount you qualify for depends on your age, property value, property location, and property type.
Unlike a traditional mortgage, you don't make monthly payments. Interest accrues on the outstanding balance and is added to the loan. The full amount (principal plus accumulated interest) is repaid when you sell, move out permanently, or pass away.
You retain full title and ownership of your home throughout the life of the loan. You can sell at any time and keep whatever equity remains after repaying the reverse mortgage balance.
Funds can be used for anything — supplementing retirement income, covering healthcare costs, helping family members, paying off existing debts, or funding home renovations to age in place comfortably.
Who is a good candidate?
Four common situations where a reverse mortgage makes sense.
Retirees
You have a paid-off or nearly paid-off home and want to supplement your retirement income without selling or downsizing.
Semi-retired homeowners
You are working reduced hours and need to bridge the gap between your current income and your expenses until full retirement.
Aging in place
You want to fund home modifications, healthcare costs, or in-home care so you can stay in your home comfortably.
Equity-rich, income-thin
Your home is your biggest asset and your income does not reflect your actual wealth. A reverse mortgage lets you access that wealth.
Pros and cons — the honest version.
A reverse mortgage is not right for everyone. Here is the full picture, both sides.
What it gives you
No monthly payments
Eliminate mortgage payments and free up monthly cash flow for other needs.
Stay in your home
Continue living in the home you love without having to sell or downsize.
Tax-free proceeds
Funds are not considered taxable income and do not affect government benefit eligibility.
Flexible use of funds
Use the money for anything you need — living expenses, healthcare, renovations, gifts to family, or travel.
No negative equity guarantee
You will never owe more than the fair market value of your home at the time of sale.
What to weigh against it
Accumulating interest
Because you do not make payments, interest compounds over time and reduces the equity remaining in your home.
Higher interest rates
Reverse mortgage rates are typically higher than conventional mortgage rates, reflecting the deferred payment structure.
Reduced inheritance
The loan balance grows over time, which means less equity may be available for your estate or heirs.
Upfront costs
Appraisal fees, legal fees, and setup costs are typically higher than a conventional mortgage.
Property maintenance required
You must maintain the property in good condition and keep property taxes and insurance current.
Common questions
Frequently asked.
A reverse mortgage allows homeowners aged 55 and older to access up to 55% of their home equity without selling their home or making monthly mortgage payments. The loan is repaid when you sell, move out, or pass away. You retain full ownership and can continue living in your home.
Yes. You retain full title and ownership of your home throughout the life of the reverse mortgage. The lender has a charge against the property, similar to a traditional mortgage, but you maintain all rights as the homeowner and can sell at any time.
No. Canadian reverse mortgages include a no-negative-equity guarantee, which means you or your estate will never owe more than the fair market value of your home at the time of sale. This protection is built into the product.
Other ways we help.
Alternative Lending
Equity-Rich Homeowners
If you're under 55 or want a more conventional path to access equity, our equity-based programs may fit better.
Learn moreBuying & Renewing
Refinance
A refinance can also access equity but does require monthly payments. We will model both side by side.
Learn moreAlternative Lending
Alternative Lending Overview
If a reverse mortgage isn't the right tool, we'll point you to the alternative lending program that fits.
Learn moreReady to explore your options?
Wondering if a reverse mortgage is right for you?
We provide honest, no-pressure guidance. Book a conversation and we will help you understand whether this option makes sense for your situation.