NO PAYMENT MORTGAGE
Are you 55+ looking forward to your retirement, but concerned about how to sustain your lifestyle
Retirement is supposed to be the best time of your life, don’t let money issues stress you out.
A financial solution designed for Senior Canadian homeowners. Unlike a traditional mortgage where you make payments to a bank or someone else, a reverse mortgage pays you. You can use the money in anyway you see fit and live your retirement comfortably knowing you don’t need to leave your home.
Tax Free Money
The money you receive does not constitute a part of your taxable income, meaning that your Old Age Security (OAS) and Guaranteed Income Supplement (GIX) is not affected.
Use The Money Anyway You Wish
A reverse mortgage can help you enjoy your retirement or cover unexpected expenses. Pay for medical bills, upgrade your home, help family and loved ones, travel and pay monthly expenses without depleting your current savings. The only condition is that any outstanding loans secured by your home must be paid out with the proceeds from the mortgage.
Basic Qualification
To qualify you must be a Canadian home owner, 55 years of age or older. The age qualification applies to both you and your spouse. Get up to 55% the value of your home; No credit, no health check and no income needed. Your home must be your primary residence.
Maintain Ownership of Your Home
Contrary to popular belief, you will not lose your home with a Canadian reverse mortgage. You’ll never be asked to move or sell to repay your mortgage. The requirement is to maintain your property and stay up-to-date with property taxes, fire insurance and condominium or maintenance fees while you live there.
Keep All Remaining Home Equity
In many years of experience, 99 our of 100 homeowners have money left over when their mortgage is repaid. And on average, the amount left over is 50% of teh value of the home when it is sold.
No Repayment While Living In Your Home
Regular mortgage payments are not required while you or your spouse are living in the home. The full amount only becomes due when you and your spouse no longer live in the home.
Submit a Request
Fill in the quick request application and an agent will contact you directly.
At HVR Financial we want to ensure that our clients get the best service possible. Each of our agents are available to meet with you at a time that is convenient so that we can better understand your unique situation and tailer a solution that best fits.
Get a Free Consultation
We value our clients and the best way to understand each person’s unique situation is by first learning more about the situation you find yourself in.
Simply fill in the form and we will contact you to setup a meeting where we can understand and design a solution that works best for you.
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