Reverse mortgage has experienced an extraordinary 26% increase demand compared to last year.
Reverse mortgage is a financial instrument that allows seniors to access at very convenient terms the equity in their home
The funds are available to the homeowner in a very short time after the application, and all the process can be done from the comfort of their home.
The purpose of the funds is up to the homeowner but, here below we enlist some common reasons.
91% of Canadian Boomers do not want to sell their home
- A study by CBC found that 91% of Canadian Boomers do not want to sell their home.
- As home values continue to rise in Canada, many senior women have tapped into the equity in their home.
- Low-income seniors that do not qualify for a traditional mortgage or secured line of credit often are placed into private loans with higher interest rates, high closing costs and annual renewal fees.
How can you help yourself?
If you know a senior that fits into the low income category, have a conversation with me about HomEquity Bank’s Line of Credit – with option to make payments, or simply defer payments
Is reverse mortgage good?
The Reverse mortgage is simply fantastic, for a number of reasons, but most of all, because it provides easy and secured the access to funds through the equity that is already owned
How is the mortgage loan repaid?
The mortgage rates have always been lower than the rate of the equity increase and homeowners do not have to make periodic payments to the mortgage. The loan and interests will be repaid when the house is sold or inherited to other owners.
It is simple and very affordable. *Free personal consultations* are available, no pressure to commit, just detailed information is provided at the meeting to show you the reverse mortgage fees and qualifications. Get your reverse mortgage application now.
What are homeowners with reverse mortgage using their funds for?
- Enjoy some traveling
- Need to improve your health
- Make some home improvements
- Help your family financially
- Increase your cash flow
If you are 55+ Home Equity Income Advantage can help you get the piece of mind you are looking for to continue with your life and plans without worries of un-eligibility.
Here are the highlights of the Home Equity Income Advantage:
- Exclusively for homeowners 55 and older
- There are no credit or income qualifications
- You can access up to 50% of the value of your home
- You receive the money tax-free
- You can take the money as monthly cash flow and as a series of lump sums
- No payments are required while you or your spouse live in your home
- You maintain ownership and control of your home
- You keep all the equity remaining in your home
- Your estate is well protected
- You can save on taxes
We offer the Home Equity Income Advantage in partnership with Home Equity Bank.
HomEquity Bank is a schedule I Canadian Bank and is the only national provider of reverse mortgages to homeowners aged 55 and over
HomEquity Bank’s product line is now officially endorsed and recommended by CARP as a trusted financial solution!
How much can you borrow on a reverse mortgage loan?
Click here to try a free pre-approval reverse mortgage calculation and find out how much funds you ca access from your own equity
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