Reverse Mortgage in Canada: Unlock Your Home Equity with Inbudget Mortgage
For many Canadians aged 55 and older, your home is your biggest asset—but your cash flow may not reflect it. A reverse mortgage allows you to access your home’s equity without selling or making monthly payments.
At Inbudget Mortgage, we help retirees across Canada unlock tax-free funds through trusted reverse mortgage solutions.
What Is a Reverse Mortgage?
A reverse mortgage is a loan that lets homeowners aged 55 or older convert a portion of their home equity into tax-free cash. Unlike a traditional mortgage, you don’t make monthly payments. Instead, the loan is repaid when you sell the home, move out, or pass away.
Key Benefits of a Reverse Mortgage
✅ No Monthly Payments – Keep your income free for daily living
✅ Stay in Your Home – Maintain full ownership and control
✅ Tax-Free Money – Funds aren’t considered income
✅ Use the Money However You Want – Travel, healthcare, debt, or helping family
✅ Protect Your Estate – You’ll never owe more than your home’s value
How Inbudget Mortgage Makes It Easy
We work with Canada’s leading reverse mortgage providers like HomeEquity Bank (CHIP) and Equitable Bank to offer:
Personalized advice
Competitive rates
Quick and secure application process
Clear education for you and your family
Who Qualifies for a Reverse Mortgage?
To be eligible, you must:
Be 55 years of age or older
Own your home (principal residence) in Canada
Have sufficient equity (typically 40–55% loan-to-value depending on age)
Note: If you’re a couple, both spouses must be at least 55.
How Much Can You Borrow?
The amount depends on:
Your age (the older you are, the more you qualify for)
The appraised value of your home
Your home’s location
The type of property
In general, you can access up to 55% of your home’s value.
Common Uses for a Reverse Mortgage
Supplementing retirement income
Paying off debts
Home renovations or repairs
Covering medical costs or in-home care
Helping children or grandchildren financially
Avoiding downsizing or selling the home
Is a Reverse Mortgage Right for You?
Reverse mortgages aren’t for everyone. Inbudget offers free consultations to help you weigh the pros and cons based on:
Your long-term goals
Inheritance plans
Current debts
Alternatives like HELOCs or downsizing
We prioritize transparent advice—no pressure, no gimmicks.
🧮 Free Tools for Mortgages
💼 Why Homeowners in Ontario Choose:
InBudget Mortgage for Reverse Mortgage
✔️ Access to top-tier banks, B-lenders, and private lenders
✔️ Experience with high-value and investment properties
✔️ Trusted by families, professionals, and newcomers
✔️ Licensed mortgage brokers with Ontario wide experience
✔️ We compare 50+ lenders (banks, B-lenders, and private options)
✔️ Easy application, fast approvals, and full support
👉 Ready to Apply for a Reverse Mortgage?
With Inbudget’s help, we used a reverse mortgage to pay off our credit card debt and finally travel in retirement—without selling our home.”
“Want to find out if reverse mortgage is good fit for your current situation?”
Learn what you qualify for and how to move forward with confidence.
Frequently Asked Questions: Reverse Mortgage
🔹 Will I still own my home?
Yes. You remain the full owner of your home. The reverse mortgage is simply a loan secured against your property.
🔹 When do I repay the reverse mortgage?
Repayment happens when you sell the home, move out permanently (e.g., to long-term care), or pass away. The loan is typically paid off from the sale proceeds.
🔹 Can I make payments if I want to?
Yes. While no payments are required, you can make voluntary payments toward interest or principal to reduce the balance over time.
🔹 What happens if my home’s value drops?
Reverse mortgages are non-recourse loans, meaning you’ll never owe more than the value of your home—even if the market drops.
🔹 Will it affect my government benefits?
No. The funds from a reverse mortgage are not considered income, so they won’t impact your Old Age Security (OAS) or Guaranteed Income Supplement (GIS) eligibility.
🔹 Can I still leave an inheritance?
Yes. Most reverse mortgage holders still retain a significant portion of home equity, especially if home values increase. Inbudget helps you forecast and plan for this.