Reverse Mortgages CanadaReverse Mortgages

If you are over 55 and want to:

  • Generate more income

  • Preserve your investment assets

  • Enhance your lifestyle

…and don’t want to downsize or move, releasing the equity in your home through a CHIP home income plan, commonly referred to as a reverse mortgage, may be the perfect financial decision for you.

Recent changes have made reverse mortgages more flexible and inexpensive than you may think.  Rates as low as 4.75%.

Unlocking Home Equity allows you to:

  • To stay in your own home without downsizing

  • Continue to benefit from your home appreciation

  • Avoid moving which is a major and time consuming undertaking

  • Use funds to renovate or retrofit property, and manage the upkeep

  • Reduce dependency on RRIF withdrawals, while maintaining or increasing monthly income and reducing taxable income

  • Invest or pay off existing debts in a simple, sensible and tax-friendly way

  • Create new tax-efficient sources of income and maybe even reduce your income tax

  • Catch up on unused RRSP contribution room and gain valuable tax deductions that can be used now and in the future to build future retirement income without increasing monthly expenses.


Have a question? Feel free to email us at mortgages@mortgagesforseniors.ca