Helping those 55+ access their home equity.
learn about the benefits.
What is a reverse mortgage?
Unlock your home equity.
A reverse mortgage is a simple way to help Canadians age 55 and over access and convert their home equity into tax-free cash. Oftentimes Canadians aren’t in a position that they anticipated with respect to their retirement savings and the increase in cost of living. If you are like many homeowners 55+, a reverse mortgage can help you live the retirement you envisioned. In fact, the qualifying criteria for a reverse mortgage is quite simple compared to a traditional mortgage. Did you know that a Reverse Mortgage does not affect your Old Age Security (OAS) or other government benefits you may receive?
How does a reverse mortgage work?
access your home equity.
A reverse mortgage is unlike a traditional mortgage in that you won’t be required to make scheduled mortgage payments. You can receive up to 55% of the value of your home to help enjoy your retirement, cover unexpected living expenses, renovate your property to support your retirement plans or as an early inheritance to your children. You can receive your equity in one lump sum advance, scheduled advances, or.a portion now and a portion at a later date.
Reasons for a Reverse Mortgage.
Use your equity how you'd like.
- Access up to 55% of the value of your home.
- Eliminate higher interest rate debt obligations.
- Improve monthly cash flow.
- Advanced inheritance.
- Unexpected healthcare costs.
- Purchase a vacation property.
- Home renovations.
- An option to remain living in your home.
Facts about reverse Mortgages.
Transparency is key.
- Retain 100% ownership of the title of your property.
- Tax-free funds, avoid breaking existing investments.
- Receive your funds in a lump-sum or multiple instalments.
- You will not have to make any mortgage payments.
- If your obligations are met you will never owe more than your home.
- Your reverse mortgage is repaid when you sell or pass away.
Ready for a DV Capital Reverse Mortgage?
If you are age 55+ and are looking to access your home equity without the burden of scheduled mortgage payments and as a viable alternative to being turned down from your bank as a result of reduced income, contact us anytime to learn about a DV Capital Reverse Mortgage.
If you have an existing Reverse Mortgage and are looking to access additional equity, DV Capital can assist you with a Home Equity Loan or a Second Mortgage. We help Canadians age 55+ access their home equity with in Ontario, British Columbia and Nova Scotia.