Reverse Mortgages
Cash from Your Home’s Equity
The perfect solution for older homeowners to free up funds.
What is a reverse mortgage?
Unlike a standard mortgage, reverse mortgages are created to give homeowners over 55 more available cash. Essentially, the loan lets you borrow money against your home’s equity and the interest will be paid from your estate after your death. In this way, a reverse mortgage through GTA gives you the ability to access cash for living expenses, vacations, or any other personal need. We work directly with lenders to find the perfect reverse mortgage for your individual needs.
Reverse Mortgage Important Facts
Because reverse mortgages are different from any other type of loan, there are a few things to remember:
Your interest rate will be higher than a normal mortgage. The reason for this is that you do not make monthly payments and instead, your lender will not collect on the loan until after your passing.
Lenders limit their reverse mortgage loans to a 55% maximum loan to value ratio (LTV). This ensures that you, your property, your beneficiaries, and your lender are adequately protected.
Each dollar you spend of your reverse mortgage effectively lowers the value of your property for your beneficiaries.
Reverse mortgage
Cash from Your Home’s Equity
The perfect solution for older homeowners to free up funds.
What is a reverse mortgage?
Unlike a standard mortgage, reverse mortgages are created to give homeowners over 55 more available cash. Essentially, the loan lets you borrow money against your home’s equity and the interest will be paid from your estate after your death. In this way, a reverse mortgage through GTA gives you the ability to access cash for living expenses, vacations, or any other personal need. We work directly with lenders to find the perfect reverse mortgage for your individual needs.
Reverse Mortgage Important Facts
Because reverse mortgages are different from any other type of loan, there are a few things to remember:
Your interest rate will be higher than a normal mortgage. The reason for this is that you do not make monthly payments and instead, your lender will not collect on the loan until after your passing.
Lenders limit their reverse mortgage loans to a 55% maximum loan to value ratio (LTV). This ensures that you, your property, your beneficiaries, and your lender are adequately protected.
Each dollar you spend of your reverse mortgage effectively lowers the value of your property for your beneficiaries.
See If You Qualify for a Reverse Mortgage Today!
Our easy questionnaire can be finished in just a few minutes and we’ll quickly get you no-obligation quotes from more than 70 reverse mortgage lenders in Canada. We’ll let you know how much you can get, the interest rates, and all other relevant details.
See If You Qualify for a Reverse Mortgage Today!
Our easy questionnaire can be finished in just a few minutes and we’ll quickly get you no-obligation quotes from more than 70 reverse mortgage lenders in Canada. We’ll let you know how much you can get, the interest rates, and all other relevant details.
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