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Make Your Home Work for You

You’ve spent years building equity—now it’s time for your home to give back. A reverse mortgage turns that equity into real financial power, helping you secure a comfortable retirement, fund investments, or even create a legacy for your loved ones.

Are you 55 or older and looking for financial flexibility in retirement, looking to travel, enjoy life or build your wealth through investment? A reverse mortgage could be the solution you've been searching for. Discover why more and more Canadians are turning to this innovative financial tool to enhance their golden years

 

Reverse mortgages are experiencing a surge in popularity across Canada. In 2022, demand for reverse mortgages increased by 30% compared to the previous year, with total originations exceeding $1 billion for the second consecutive year. As of June 2024, Canadians held over $8.2 billion in reverse mortgage debt, highlighting the growing trend. Remax, 2024

Why Choose a Reverse Mortgage?

There are so many benefits but here are a few of the biggest advantages.

No Monthly Payments

Keep more money in your pocket every month

Tax-Free Cash

Access your equity without increasing your taxable income

Flexible Options

Choose how and when you receive your funds

Stay in Your Home

No need to sell or move

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Is it Right for You?

A reverse mortgage could be an excellent fit if you:

  • Are 55 years or older

  • Own your home

  • Want to stay in your current residence

  • Need additional income or financial flexibility

  • Have limited savings or pension income

 

"I was feeling exhausted. I didn’t have a retirement date until Dave asked me, ‘What was most important about retirement?’ I wanted to travel. The Reverse mortgage replaced my current mortgage. I don’t have the stress of a mortgage payment, I can work less, and now I’m looking forward to travelling earlier.”

— Karen

Take the Next Step

With years of experience helping Canadian homeowners make the most of their home equity, Dave Fullerton is here to guide you through every step of the reverse mortgage process. His goal is to ensure you make an informed decision that supports your financial future.

  • What is a reverse mortgage?
    A reverse mortgage is a loan that allows homeowners aged 55 and older to borrow up to 59% of their home's value without selling the property. You receive tax-free funds while retaining ownership of your home.
  • Who qualifies for a reverse mortgage?
    To qualify, you must be at least 55 years old, own your home, and live in it as your primary residence. The amount you can borrow depends on factors such as your age, home value, and location.
  • How do I receive the funds from a reverse mortgage?
    You have several options: A one-time lump sum advance An initial large sum (minimum $25,000) with remaining funds as single or recurring advances Regular monthly deposits
  • Do I have to make monthly payments on a reverse mortgage?
    No, you don't need to make monthly payments. The loan becomes due when you sell the home, move out, or pass away.
  • Will I still own my home with a reverse mortgage?
    Yes, you retain full ownership and control of your home. The lender simply holds a first mortgage on the title.
  • Can the bank force me to sell or foreclose on my home?
    No, as long as you meet your mortgage obligations (maintaining the property, paying property taxes and insurance), the bank cannot force you to sell or foreclose on your home.
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