Is your net worth tied up in the value of your home? If you’re not planning on moving and would like the ability to access your home’s equity, then a reverse mortgage may be right for you. Built to fit your needs, you can customize your loan payments the way you want – whether it’s a one-time lump sum or monthly payments. Contact us today to learn more about how you can take full advantage of a reverse mortgage.
Is A Reverse Mortgage Right For Me?
Compared to a standard mortgage that requires you to make payments that build equity in your home, a reverse mortgage will allow you to borrow from that home value. Canadians aged 55 or older have their own financial needs that can be very complex, and a reverse mortgage can allow you to access your home’s equity when you want, and how you want.
Reverse mortgages provide a certain level of flexibility in terms of your payment options. You are able to make interest-only payments, payments that cover both interest and principal, or you can repay the entire loan in full when you sell the property.
If you are interested in learning more about reverse mortgages, please contact one of our agents. We will be happy to provide you with more information and explain the application process.