Reverse mortgages are an attractive solution for seniors who want to remain in their homes and access the equity they’ve built up over the years. If you’re 55 or over and own your home, you could be eligible for a reverse mortgage. At Reverse Mortgage 4U, we’ve helped thousands of Canadians find more financial freedom with this unique loan solution.
Ways To Use Your Reverse Mortgage
Debt Consolidation Options
Are you struggling to pay off your debt? A reverse mortgage can help you consolidate your debts and simplify your monthly payments. You can look forward to increased cash flow while remaining in your home, free of monthly mortgage payments.
Do you need to make home improvements or cover unexpected expenses? One of the best ways to use a reverse mortgage is for repayment assistance. A reverse mortgage can provide the loan assistance you need without high interest rates. You’ll have access to tax-free funds based on your home’s value and age, freeing up your cash flow for a more enjoyable quality of life.
Purchase a New Home
A reverse mortgage can help you raise the funds to purchase a new primary residence. This may be helpful if you’re looking to downsize or relocate for improved accessibility. Using a reverse mortgage to buy a home ensures you can access your current home’s equity before the sale.
SENIOR CREDIT CARD DEBT
With a reverse mortgage, home equity can be used to help seniors with credit card debt. This is one of the best ways to reduce the stress of high interest rates and large monthly payments on your credit card. By using a reverse mortgage, you can access a tax-free lump sum or a line of credit to pay off your debts and get a fresh start on your finances.
Can you give an inheritance while still alive? In fact, you can! And a reverse mortgage can help you provide a living inheritance for you and your family. You’ll have access to the equity you’ve built up in your home, helping you support your loved ones as soon as you’re ready.
How to Qualify for a Reverse Mortgage:
- Be 55 or over (if married, both must be 55+)
- Own a marketable property that is your principal residence
- Have sufficient equity
- Have enough income to cover your property taxes and home insurance
To learn more about your eligibility, please call Donna or John at 905 878 4273.
Start Your Reverse Mortgage Assessment Today
At Reverse Mortgage 4U, we're here to help you understand the benefits of a reverse mortgage and determine your eligibility. Our easy-to-use reverse mortgage assessment can give you an idea on what is needed to qualify for a reverse mortgage and will give our mortgage professionals the information they need to provide you with an estimate and next steps. Contact us today to book a no-obligation appointment and learn more about the ways to use a reverse mortgage.
14 Martin Street, Milton.
ON. L9T 2P9
Mon – Thur: 8:30am – 6pm
Fri: 8:30am – 3:30pm