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Reverse Mortgage
Access your home equity in retirement without required monthly payments. Compare reverse mortgage options from trusted professionals across Canada.
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Need help finding a Reverse Mortgage?
We connect you with qualified reverse mortgage professionals who explain options clearly and help you compare offers that fit your goals.
No monthly mortgage payments
Access tax-free home equity
Stay in your home
Compare trusted providers
How it works
A simple, guided process to compare reverse mortgage options and speak with experienced professionals.
What are you looking for?
Tell us about your home, age, and financial goals. This helps us understand what type of reverse mortgage support you’re looking for and what options may be suitable for your situation.
01
Get customised options
We’ll connect you with licensed mortgage professionals who can explain available reverse mortgage options based on your home value and needs. Review details clearly at your own pace.
02
Choose your professional
Compare experience, ask questions, and select the mortgage professional who best aligns with your comfort level, goals, and long-term plans.
03
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Understanding reverse mortgages
What homeowners should know
A reverse mortgage allows homeowners aged 55 and older to borrow against their home equity without making monthly mortgage payments. Instead of paying the loan down over time, the balance grows and is repaid when the home is sold or the owner moves or passes away.
Funds from a reverse mortgage are typically tax-free and can be taken as a lump sum, regular payments, or a combination of both. Many homeowners use this option to supplement retirement income, cover medical costs, or manage cash flow without selling their home.
Because interest and fees are added to the loan balance, a reverse mortgage can reduce the equity left in your home over time. It is important to understand how costs, interest rates, and future home value changes may affect your long-term plans and estate.
Pro Tip
Always review long-term costs and exit options before choosing a reverse mortgage.
Designed for seniors
Reverse mortgages are specifically designed for homeowners aged 55 and older. Eligibility is based mainly on age, home value, and available equity rather than income or employment status. This makes them appealing for retirees who may have limited income but significant home equity. Understanding how age affects borrowing limits and how equity is accessed can help you set realistic expectations before moving forward.
Know the trade-offs
While reverse mortgages offer flexibility and no monthly payments, they come with higher interest rates and fees compared to traditional mortgages. Over time, the growing loan balance can significantly reduce remaining equity. Carefully reviewing scenarios, repayment triggers, and alternatives such as downsizing or refinancing helps ensure the decision aligns with your long-term financial goals.
What Is a Reverse Mortgage and How Does It Work in Canada?
Learn how reverse mortgages work in Canada and how homeowners can access home equity in retirement.
Livin2
Jan 8, 2026
Professional spotlight
Senior Specialist
Northern Home Equity Group
Northern Home Equity Group specializes in helping Canadian seniors understand reverse mortgage options through clear guidance and personalized support.
Their advisors focus on education first, walking homeowners through how reverse mortgages work, what affects borrowing amounts, and how future repayment scenarios may impact family plans.
They also help clients compare reverse mortgages with alternatives such as refinancing or selling, ensuring decisions are based on long-term needs rather than short-term cash flow.
Who is a good fit for a reverse mortgage?
Reverse mortgages are often suitable for homeowners aged 55 or older who have significant home equity and want to access cash without monthly payments. They are commonly used by retirees who plan to stay in their home long term.
How much money can homeowners access?
The amount available depends on age, home value, location, and interest rates. Generally, older homeowners with higher-value homes can access a larger percentage of their equity.
What should families discuss before applying?
Average reverse mortgage costs
Last updated: 1/5/2026
Region
Great Value
Average
Premium
Canada
5.5%
6.5%
7.5%
Rates and costs vary based on age, home value, equity, and location.
Reviews
4.8
based on 18400 reviews
Clear guidance94%
Professional service94%
Would recommend95%
"The advisor explained everything in simple terms and helped us understand the long-term impact before making a decision."
Margaret L.17 Dec 2025
"We appreciated having options laid out clearly without pressure. It made a complex topic much easier to understand. "
Robert K.03 Oct 2025
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Service guides
Learn how reverse mortgages work and when they make sense.
What Happens to Your Home and Estate with a Reverse Mortgage?
Learn what happens to your home, equity, and estate when a reverse mortgage ends.
Read guide
Common Myths About Reverse Mortgages (And What’s Actually True)
Learn what’s true and what’s misunderstood about reverse mortgages in Canada.
Read guide
How Seniors Use Reverse Mortgages: Real Scenarios and Use Cases
Learn how seniors use reverse mortgages to support retirement and stay in their homes.
Read guide
Reverse Mortgage vs HELOC vs Refinancing: Which Option Makes Sense for Retirees?
Learn how reverse mortgages, HELOCs, and refinancing compare for retirees using home equity.
Read guide
Who Qualifies for a Reverse Mortgage? Age, Home Value & Requirements
Learn who qualifies for a reverse mortgage in Canada and what requirements homeowners must meet.
Read guideWhat Is a Reverse Mortgage and How Does It Work in Canada?
Learn how reverse mortgages work in Canada and how homeowners can access home equity in retirement.
Read guide
Pricing Guides
Understand costs, rates, and what affects reverse mortgage pricing.
Is a Reverse Mortgage Worth the Cost? Long-Term Impact on Home Equity & Estate
Learn how the long-term cost of a reverse mortgage affects home equity and estate value.
Read guide
Reverse Mortgage Payment & Balance Growth Examples Over Time
Learn how reverse mortgage balances grow over time and what that means for home equity.
Read guide
How Much Equity Can You Access with a Reverse Mortgage?
Learn how much home equity can be accessed with a reverse mortgage and what factors affect limits.
Read guide
Reverse Mortgage Fees Breakdown: Lender Fees, Legal Costs & Appraisals
Learn what fees are involved with a reverse mortgage and how they affect total cost over time.
Read guide
Reverse Mortgage Interest Rates Explained: Why They’re Higher Than Traditional Mortgages
Learn why reverse mortgage interest rates are higher and how they affect long-term borrowing costs.
Read guide
How Much Does a Reverse Mortgage Cost in Canada? Rates, Fees & Examples
Learn how reverse mortgage costs are structured in Canada, including rates, fees, and long-term impact.
Read guide
Access your home equity
Explore reverse mortgage options and connect with professionals who can help you decide what works best for your situation.
Q&A
Common questions homeowners ask about reverse mortgages.
Yes. You remain the owner of your home and keep the title. You are responsible for property taxes, insurance, and maintenance while living in the home.