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Reverse Mortgages
Mortgage Broker Serving the Durham Region, ON
Unlock the value of your home without ever moving out. A reverse mortgage provides seniors with tax-free cash to enhance their retirement, with no monthly mortgage payments required.
What is a Reverse Mortgage?
A reverse mortgage is a financial tool specifically designed for Canadian homeowners aged 55 and older. It allows you to convert a portion of your home’s equity into tax-free cash while you maintain 100% ownership and title of your property. Unlike a traditional home equity loan, you are not required to make any principal or interest payments as long as you live in the home.
Your Trusted Reverse Mortgage Broker
Navigating retirement on a fixed income can be challenging. As your reverse mortgage broker, RS Mortgage Solutions helps you access up to 55% of your home's value to fund healthcare, home renovations, or simply to enjoy a more comfortable lifestyle.
How Does a Reverse Mortgage Work?
The process is straightforward:
- Stay in Your Home: You retain full ownership and are never required to move or sell, provided you pay your property taxes and insurance.
- No Monthly Payments: The interest is added to the balance of the loan, meaning you don't have to worry about monthly cash flow.
- Tax-Free Funds: The money you receive is not considered income, so it won’t affect your Old Age Security (OAS) or Guaranteed Income Supplement (GIS) payments.
- Flexible Payouts: Choose to receive your money as a single lump sum, planned monthly deposits, or a combination of both.
- Repayment: The loan is only repaid when you choose to move, sell the home, or through the estate.
Contact RS Mortgage Solutions - Mortgage Agent in Durham Region, ON
Reverse Mortgage Services Across the GTA
RS Mortgage Solutions offers specialized advice for seniors in the Durham Region including Pickering, Ajax, Whitby, Oshawa, Clarington, Port Perry, Cannington, Beaverton, Brock, Uxbridge, Scarborough, Etobicoke, North York, Toronto, Markham, Vaughan, Richmond Hill, Newmarket, Brampton, Oakville, Milton, Mississauga, and beyond.
Ready to Secure Your Retirement?
Put 15+ years of real estate and investment insight to work for your family. Let’s discuss how a reverse mortgage can provide the financial freedom you deserve in Newcastle, ON.