

Certified Reverse Mortgages.
Access up to 55% of your Home’s Value.
Transform your home’s value into life changing tax-free cash. We specialize in delivering expert advice and providing prompt approval. Explore your options today if you are considering a reverse mortgage.
Ottawa's Best Reverse Mortgages
Unlike a traditional mortgage where you make payments to a bank or someone else, a reverse mortgage pays you. You can use the money in anyway you see fit and live your retirement comfortably knowing you don’t need to leave your home. The biggest benefit of a reverse mortgage is that you are not required to make regular payments for as long as you or your spouse lives in your home.

Tax Free Cash
The money you borrow is tax-free and it does not affect the Old-Age Security or Guaranteed Income Supplement (GIS) benefits you may be getting. As the homeowner, you are required to maintain your home and remain current on property taxes and homeowners insurance.
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No Monthly Mortgage Payments
There are no monthly mortgage payments required, however, you are required to ensure your property taxes and insurance are kept up to date.
Apply NowReverse Mortgage Quick-Facts and Features
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Tax Free Money
The money you receive does not constitute a part of your taxable income, meaning that your Old Age Security (OAS) and Guaranteed Income Supplement (GIS) is not affected.
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Maintain Ownership of Your Home
Contrary to popular belief, you will not lose your home with a Canadian reverse mortgage. You'll never be asked to move or sell to repay your Reverse Mortgage. The requirement is to maintain your property and stay up-to-date with property taxes, fire insurance and condominium or maintenance fees while you live there.
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Use The Money Anyway You Wish
A reverse mortgage can help you enjoy your retirement or cover unexpected expenses. Pay for medical bills, upgrade your home, help family and loved ones, travel and pay monthly expenses without depleting your current savings. The only condition is that any outstanding loans secured by your home must be paid out with the proceeds from your Reverse Mortgage.
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Keep All Remaining Home Equity
In many years of experience, 99 out of 100 homeowners have money left over when their Reverse Mortgage is repaid. And on average, the amount left over is 50% of the value of the home when it is sold.
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Basic Qualification
To qualify you must be a Canadian home owner, 55 years of age or older. The age qualification applies to both you and your spouse. Get up to 55% the value of your home; No credit, no health check and no income needed. Your home must be your primary residence.
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No Repayment While Living In your Home
Regular mortgage payments are not required while you or your spouse are living in the home. The full amount only becomes due when you and your spouse no longer live in the home.

Stay In The Home You Love
A reverse mortgage allows you to access the equity in your home without having to move or sell! So you can enjoy retirement your way, in the home you love!
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Live Retirement Comfortably
Use the funds however you desire, renovate your home, pay off debts, travel, or anything else you want, the choice is yours!
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How Much Money Can I Get?
The value of your home has grown over the years and makes up a good portion of your net worth. A Reverse Mortgage allows you to turn some of your home equity into tax-free cash. You can access up to 55% of its value. The amount that you can access is based on several factors such as; your age, property location, home type and appraised home value.
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Renovate Your Home
Your home is your sanctuary, filled with memories. It is where you intend to live out the rest of your lives, comfortably. It is because of this that many retired Canadian homeowners feel the need to upgrade their kitchen, bathroom or even build a deck in their backyard.
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Fortify Your Healthcare Funds
When you need a steady cash flow to manage your recurring, out-of-pocket medical expenses, use some of your home’s equity through a reverse mortgage and create tax-free, cash-inhand (you can receive monthly payments, or you cash in one lump sum – the choice is yours)
Get StartedHave Questions?
Here are a few answers to some common questions you might have
Will the homeowner owe more than the house is worth?
The homeowner keeps all the equity remaining in the home. In our many years of experience, over 99% of homeowners have money left over when their loan is repaid.
The equity remaining depends on the amount borrowed, the value of the home, and the amount of time that’s passed since the reverse mortgage was taken out.
Will the bank own the home?
No. The homeowner retains title and maintains ownership of the home. It’s required for the homeowner to live in the home, pay taxes on time, have home insurance, and maintain the property in good condition.
What if the homeowner has an existing mortgage?
For clients that have an existing mortgage, the first step we will take is to pay off your conventional mortgage along with any other secured debt.
Should reverse mortgages only be considered as a loan of last resort?
No. Many financial professionals recommend a reverse mortgage to supplement monthly income instead of selling and downsizing, or taking out a conventional mortgage or a line of credit.
What fees are associated with a reverse mortgage?
There are one time fees to arrange a reverse mortgage such as an appraisal fee, fee for independent legal advice as well as our fee for administration, title insurance, and registration. With the exception of the appraisal fee, these fees are paid for with the funding dollars.
What if the homeowner can’t afford payments?
There are no monthly payments required as long as the homeowner is living in the home.
Myths about reverse mortgages
Reverse mortgages have evolved from a needs-based product to a product many financial planners recommend as an important component of a comprehensive retirement plan.
Myth: The bank owns the home
Fact: The homeowner always maintains title ownership and control of their home, and they have the freedom to decide when and if they’d like to move or sell.
Myth: Those with a reverse mortgage will owe more than their house is worth
Fact: HomeEquity Bank’s conservative lending practices allow clients to take a maximum of 55% of the home’s appraised value. In fact, 99% of HomeEquity Bank’s clients have equity remaining in the home when the loan is repaid.
Myth: Reverse mortgages are too expensive because the rates are high
Fact: HomeEquity Bank rates are modestly higher than regular mortgages because there are no payments required.
Myth: A reverse mortgage is a solution of last resort
Fact: Many financial professionals recommend a reverse mortgage because it’s a great way to provide financial flexibility. Since it’s tax-free money, it allows retirement savings to last longer.
Myth: The homeowner cannot get a reverse mortgage if they have an existing mortgage
Fact: For clients that have an existing mortgage, the first step we will take is to pay off your conventional mortgage along with any other secured debt.
Myth: A Home Equity Line of Credit (HELOC) is a better option
Fact: HELOCs are a good short-term borrowing option for people who can pay the interest and loan in the near future. However, HELOCs are callable loans with monthly payments and there exists significant risk of non-renewal or cancellation.
In comparison, a reverse mortgage is a long-term financial solution that won’t be called based on economic changes such as interest rates increasing, property values decreasing, or a change in the homeowner’s income. Also, money from a reverse mortgage provides the ability to prolong retirement savings.
Myth: The bank can force the homeowner to sell or foreclose at any time
Fact: A reverse mortgage is a lifetime product, and as long as property taxes and insurance are in good standing, the property remains in good condition, and the homeowner is living in the home, the loan won’t be called even if the house decreases in value. Reverse mortgages provide peace-of-mind that the homeowner can stay in their home as long as they’d like.
Myth: Surviving spouses are stuck paying the loan after the homeowner passes away
Fact: Surviving spouses can choose to remain in the home without having to make a payment unless they choose to sell the home.