Reverse Mortgage
For eligible Canadian homeowners age 55+, a reverse mortgage may provide access to home equity while allowing you to remain in your home. Costs, interest accumulation and estate impact should be reviewed before proceeding.
Home Equity Planning Snapshot
Method: estimated home value minus existing mortgage balance. It does not estimate reverse-mortgage eligibility or proceeds. A lender determines any available amount using age, property, location, product rules and its current underwriting. Updated September 3, 2026.
Key Reverse Mortgage Benefits
Access Home Equity
Use funds to supplement lifestyle, increase cash flow, consolidate debt, renovate, travel, cover medical expenses or support family.
Stay in Your Home
Access home equity without moving, selling or downsizing.
No Monthly Payments Required
No required monthly mortgage payments while conditions are met.
Keep Ownership and Title
You continue to own your home and maintain title while using part of your equity.
Lump Sum or Advances
Funds may be structured as a lump sum or advances over time depending on approval.
Eligibility Factors
Age, property value, location, property type, condition and existing mortgage balance can affect eligibility.
Before deciding
Ask for the interest rate, compounding, setup and closing costs, prepayment terms, repayment triggers and an illustration of how the balance may grow. Compare alternatives such as a home equity line of credit, conventional refinance, downsizing or other retirement-income options where appropriate.
General educational information only. Product availability and terms change. Source reviewed September 3, 2026: Financial Consumer Agency of Canada β Reverse mortgages.