Reverse Mortgage

Reverse Mortgages in Canada

A reverse mortgage is a financial solution designed for homeowners aged 55 and older who want to access the equity in their home without having to sell or make monthly mortgage payments. It can be a practical option for improving cash flow and supporting retirement needs while continuing to live in your home.

At Brevity Mortgages, we help homeowners understand how reverse mortgages work and whether this option aligns with their long-term financial goals.

Access Your Home Equity in Retirement

A reverse mortgage allows you to convert a portion of your home’s equity into tax-free funds, while still maintaining ownership and living in your home.

No Required Monthly Mortgage Payments

Unlike traditional mortgages, repayment is typically deferred until you sell the home, move out, or the property is no longer your primary residence.

Common Uses for a Reverse Mortgage

Homeowners often use reverse mortgages to supplement retirement income, cover medical or living expenses, eliminate existing debt, or improve overall financial flexibility.

A Flexible Retirement Solution

When structured properly, a reverse mortgage can provide financial relief while allowing you to stay in the home you’ve worked hard to build equity in.

How Much You Can Borrow

The amount you can access depends on several factors, including your home’s value, location, and overall condition. In general, homeowners can typically borrow up to 40%–55% of their home’s appraised value, with the percentage increasing for older borrowers and higher-value properties.

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Eligibility for a Reverse Mortgage in Canada

To qualify for a reverse mortgage in Canada, you generally must meet the following requirements:

• You must be 55 years of age or older (all property owners must meet the minimum age requirement)

• You must own your home and it must be your primary residence

• The property must be a single-family home, condo, townhouse, or approved property type

• There must be sufficient home equity built up (typically at least 50% or more)

• The home must meet the lender’s property condition and valuation standards

• All owners on title must consent to the reverse mortgage application

Looking to explore your options?

Contact Brevity Mortgages today to find out if a reverse mortgage is the right solution for your needs.

Call (905) 814-4455 or email info@brevitycapital.com

Steps & Process

Easy Approval Process