online approvals 7 days a week.

Reverse Mortgage.

Helping Clients 55+ Access Their Home Equity.

Simple, No Payment, Mortgages.

Available in Ontario, British Columbia & Nova Scotia.

"Reverse Mortgage Experts."

S.C. - Vancouver Homeowner

Reverse Mortgage Lenders
What Is a Reverse Mortgage?

What is a reverse mortgage?

a mortgage product for canadian seniors.

Reverse mortgage solutions are designed to help Canadian homeowners age 55+ access and convert their home equity to tax-free cash for numerous purposes. Unlike a traditional residential mortgage, a reverse mortgage does not have scheduled payments. It enables eligible homeowners to access up to 55% of the appraised value of their home, depending on the homeowner’s age; the younger the homeowner, the less equity they can access. The approval process is generally easier than qualifying for a traditional mortgage. Like any mortgage product, one must understand the features and determine that the product makes sense for the homeowner’s circumstances and borrowing objectives. Note that a reverse mortgage can only be registered in first position, meaning that any existing first or second mortgages, home equity lines of credit or home equity loans must be discharged from title. DV Capital provides reverse mortgages throughout Ontario, British Columbia and Nova Scotia.

How does a reverse mortgage work?

it's your equity, access it anytime.

A reverse mortgage does not have scheduled payments. As a reverse mortgage is not on a fixed repayment schedule, often referred to as an amortization schedule, the principal and interest compound during the mortgage term. In other words, one’s mortgage balance continues to grow for as long as one has a reverse mortgage. A reverse mortgage does not affect Old Age Security or Guaranteed Income Supplement benefits. Homeowners age 55+ can access up to 55% of the value of their equity, depending on the property type, location, condition, appraised value and most importantly, the age of the homeowners. The homeowner’s age will determine the maximum qualifying loan-to-value. The younger the homeowner, the less they can borrow. Whereas, the older the homeowner, the more they can borrow, provided the loan to value does not exceed 55% of the home value as determined by an appraiser. Interest rates are typically higher than traditional mortgages or home equity lines of credit interest rates and are generally lower than private mortgage rates. One reason is the simplified approval process and how a reverse mortgage is an option for those unable to qualify for a traditional mortgage based on their income levels, which usually drastically reduces as homeowners enter an older age bracket or retire. For instance, a retiree might not be able to pass the mortgage stress test with a traditional mortgage lender. A reverse mortgage allows Canadians age 55+ a method to access their home equity and side-step restrictive bank underwriting guidelines while battling what seems to be a relentless increase in the overall cost of living in Canada, especially when pension, benefits and retirement savings barely scratch the surface. Funds are typically advanced in one of two methods: one lump sum advance or multiple advances paid to the homeowner over time.

How Does A Reverse Mortgage Work?
How to Apply for a Reverse Mortgage

How to Apply for a Reverse Mortgage.

contact us 7 days a week.

Applying for a reverse mortgage is quite simple, thanks to DV Capital’s user-friendly online mortgage application. DV Capital receives instant notification once its client completes their online mortgage application and quickly reviews and contacts its clients to discuss potential mortgage approval options. DV Capital’s mortgage broker advisory channel has access to Canada’s leading reverse mortgage providers. Access to multiple mortgage lenders might result in a greater chance of approval, potentially resulting in more than one approval option. DV Capital is a one-stop shop that handles the heavy lifting for its clients and their loved ones from start to finish. For homeowners or family members of homeowners age 55+ looking for preliminary information, not yet ready to complete an application, we warmly invite you to contact us, and we will coordinate a phone call with you directly and or your family members, accountant or financial advisor. DV Capital is a licensed mortgage brokerage facilitating reverse mortgages in Ontario, British Columbia & Nova Scotia to homeowners age 55+ wanting to access home equity.

Benefits of 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 for daily expenses.
  • Provide children with an advanced inheritance.
  • Pay for unexpected healthcare expenses.
  • Pay for home repairs & renovations.
  • Home renovations.
  • Avoid breaking investments. 
  • An alternative to selling your home and renting. 
  • A mortgage option for those who can’t pass the stress test.
Benefits of a Reverse Mortgage
How Is A Reverse Mortgage Repaid?
How is a reverse mortgage repaid?

learn how to repay a mortgage.

Unlike a traditional mortgage with scheduled mortgage payments based on an amortization schedule, a reverse mortgage does not have scheduled mortgage payments, and the balance continues to grow. A traditional mortgage typically has three different kinds of prepayment penalties. One may prepay an open mortgage before maturity without penalty. For a closed mortgage, depending on whether the mortgage has a variable or fixed rate, the penalty is either a 3-month interest penalty or the greater of a 3-month interest penalty and the interest rate differential. The prepayment penalty for a reverse mortgage varies based on the reverse mortgage lender, whether the rate is fixed or variable and is typically calculated based on either or all of the following factors: the reverse mortgage balance (principal + interest), the contract interest rate, how many years remain in the mortgage term and the current market interest rate for a term equivalent to the months remaining in your reverse mortgage term.  In some cases, unless one pays off the total outstanding balance, they might be required to maintain a minimum balance. Ultimately, a reverse mortgage must be repaid to the reverse mortgage lender when the property sells, a default under the mortgage occurs or when the homeowner passes away

Reverse Mortgage Facts.

Understand the Pros & Cons.

  • Retain 100% ownership of the title of your property. 
  • Receive your funds in a lump sum or multiple advances. 
  • You will not have to make any mortgage payments. 
  • You must maintain the condition of your property.
  • You must maintain adequate home insurance.
  • You must make timely property tax payments.
  • Most set-up costs get deducted from the mortgage proceeds.
  • Interest rates are generally above that of traditional mortgages. 
  • Your Old Age Security or Canada Pension Plan is not affected.
  • Use your home equity when and however you’d like.
Reverse Mortgage Facts

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