Reverse Mortgages

ON A MISSION TO HELP YOU WON

+1 6045125211

info@mymissionmortgages.ca

ON A MISSION TO HELP YOU WON

+1 6045125211 info@mymissionmortgages.ca

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Reverse mortgages

For homeowners 55 and older, a reverse mortgage offers a unique way to access home equity without selling their property. This product allows retirees to convert a portion of their home’s value into tax-free cash flow, providing financial security without monthly mortgage payments.

With a reverse mortgage, you can borrow up to 55% of your home’s value, depending on factors like age, property type, and location. The loan is repaid only when you sell the home, move out, or pass away. Since there are no monthly payments, this option provides financial relief for retirees who have significant home equity but limited cash flow.

The biggest advantage of a reverse mortgage is that it allows homeowners to stay in their home while accessing funds for daily expenses, medical care, renovations, or even travel. It’s a way to enjoy retirement without worrying about monthly mortgage payments.

However, a reverse mortgage may not be the best fit for everyone, as it can impact inheritance plans and long-term wealth management. If you’re considering this option, let’s discuss whether it aligns with your financial goals. I’ll help you weigh the pros and cons and explore alternatives if needed. Let’s chat!