Is a Reverse Mortgage a Good Option For You?

A reverse mortgage is a loan that allows you to get money from your home without having to sell your home. 

This could be a part of a retirement strategy for some people. It allows them to convert their home equity into tax-free cash. At the same time, it allows them to remain in their home for retirement.

Reverse mortgages are available in Canada. They are regulated by the Financial Consumer Agency of Canada. Certain restrictions apply. For example, you may only be able to borrow up to a certain percentage of the current value of your home.


Unlike a traditional mortgage, a reverse mortgage doesn’t need a down payment. It also does not have monthly payments to the lender. The loan amount depends on the current value of your home minus your mortgage or other debts.


The information above is very general about this topic. To learn more about reverse mortgages we recommend you contact a professional. See below the contact details of the qualified professional who we can recommend you talk to.

Serving Most Communities Across Ontario

Visit Canadalend.com to read more about Reverse Mortgages

For faster service contact Bob directly: 

BOB AGGARWAL
President/Broker
bob.aggarwal@canadalend.com

Tel:  905-881-2208
Cell:  416-278-0278
Toll Free: 1-866-422-6536

675 Cochrane Drive | Suite 104 | West Tower
Markham | ON | L3R 0B8
FSRA   # 11384, M08008523

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