Reverse Mortgages

Reverse mortgages are a type of home equity loan, it does not require monthly mortgage payment and the loan is repaid after the homeowner sells or dies. You will get the money in installments, not in a lump sum, and you will have to pay it back in one lump sum in the future.

“Your house remains in your name. You will get all the equity left in the home after the reverse mortgage is paid off.”

reverse mortgages

To qualify you and your spouse must be 55 years of age or older. The amount that you will qualify for depends on your age, the location of your home, and the value of the house. All payments are tax-free.

If you are only wanting a small amount at the time of applying, you can get pre-approved for the maximum allowed and get paid the amount needed while still having access to the full-amount, if needed.

You only pay interest on the amount that has been loaned to you, not the pre-approved amount.

Your house remains in your name.  You will get all the equity left in the home after the reverse mortgage is paid off. The reverse mortgage loan does not have any affect on your Old Age Security or Guaranteed income supplements benefits you might receive.

The lender guarantees that your estate is protected and that no money will be left owing after the reverse mortgage is paid off.

You retain 100% ownership of your home. The title and ownership of your home belong to you, not the bank.

The money you get is tax-free. It also doesn’t impact your Old Age Security or Guaranteed Income Supplement. Meanwhile, keep your investments growing without being taxed for withdrawing from your portfolio.

You decide how to spend the money you get. You can use the net proceeds from your Reverse Mortgage to make home renos or retrofits, pay unexpected expenses, financially help children or grandchildren, purchase a second property, even take a dream vacation.

There are no regular mortgage payments required. Once you decide to leave your home, the interest and principal and any applicable charges are simply paid off from the proceeds of the home sale. You are still required to maintain your property taxes, fire insurance and condominium or maintenance fees.

Home Income Plan Guide


Jaret really worked hard to present our story to a lender and get us approved. Coming to our house was also very convenient as we have young children.

Cindy and Joel

I took Jaret’s advice to let him look into a better renewal rate than the one that was automatically mailed to me by my lender. He found a better offer, and I’m much happier.

M. Long

Thank you for helping me get into my first investment rental property.



I would love to hear from you! Let me know what what services you are interested in or if you just want to have a chat about your current financial circumstances. I’m here to listen and then give you my professional feedback.

If you have any immediate questions about my services, feel free to give me a call at 604-816-5988 or send me an email! Prefer to schedule a call ? Add yourself to my calendar on a date and time that works best for you.

Fields marked with an * are required