Use the Built-up Equity in Your Home
Chances are that the equity in your home has grown over the years and it now makes sense to use this built-up equity to ease cash flow. If you are 55 years or older, you can use your home’s built-up equity and you don’t have to repay the debt until you sell or transfer your property.
By using a Reverse Mortgage, you change some of the equity in your home into cash- TAX FREE! Unlike many mortgage-based financial products, you’re not obligated to make any payments until you choose to move or sell.
Whether you wish to receive your money over time or in one lump sum – the choice is yours. If you choose the monthly income option, the amount you receive from your home’s equity is non-taxable and does not affect your existing pension amounts.
A Reverse Mortgage is a Canadian financial solution that benefits Canadian homeowners and our team has access to three different lenders providing this specialty product. Gibbard Group Financial staff are certified reverse mortgage specialists with CHIP and can answer any of your questions about how to qualify for a Reverse Mortgage and how it all works.