Transform your home’s value into life changing tax-free cash. We specialize in delivering expert advice and providing prompt approval. Explore your options today if you are considering a reverse mortgage.
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The money you borrow is tax-free and it does not affect the Old-Age Security or Guaranteed Income Supplement (GIS) benefits you may be getting. As the homeowner, you are required to maintain your home and remain current on property taxes and homeowners insurance.
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There are no monthly mortgage payments required, however, you are required to ensure your property taxes and insurance are kept up to date.
SJC Financial's construction loan process is fast, easy and intuitive each step along the way.
Step 1
Step 2
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 Reverse 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.
Step 3
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 your Reverse Mortgage.
Step 4
In many years of experience, 99 out of 100 homeowners have money left over when their Reverse Mortgage is repaid. And on average, the amount left over is 50% of the value of the home when it is sold.
Step 5
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.
Begin your application by filling out our long application form or you can simply head over to our contact page and fill out basic details to begin your reverse mortgage.
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A reverse mortgage allows you to access the equity in your home without having to move or sell! So you can enjoy retirement your way, in the home you love!
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Use the funds however you desire, renovate your home, pay off debts, travel, or anything else you want, the choice is yours.
The value of your home has grown over the years and makes up a good portion of your net worth. A Reverse Mortgage allows you to turn some of your home equity into tax-free cash. You can access up to 55% of its value. The amount that you can access is based on several factors such as; your age, property location, home type and appraised home value.
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. The biggest benefit of a reverse mortgage is that you are not required to make regular payments for as long as you or your spouse lives in your home.
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When you need a steady cash flow to manage your recurring, out-of-pocket medical expenses, use some of your home’s equity through a reverse mortgage and create tax-free, cash-inhand (you can receive monthly payments, or you cash in one lump sum – the choice is yours).
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Your home is your sanctuary, filled with memories. It is where you intend to live out the rest of your lives, comfortably. It is because of this that many retired Canadian homeowners feel the need to upgrade their kitchen, bathroom or even build a deck in their backyard.
When you make a deal to buy a home, in addition to thinking about how much money to provide, you likewise need to think about any conditions that you want to include.
When most people want to buy a home, they get a list of local banks and mortgage companies to start comparing the available financing options.
Separation and divorce present many challenges. It's a situation you likely never thought you'd never be in, but now there are personal and financial consequences to handle.
The homeowner keeps all the equity remaining in the home. In our many years of experience, over 99% of homeowners have money left over when their loan is repaid.
The equity remaining depends on the amount borrowed, the value of the home, and the amount of time that’s passed since the reverse mortgage was taken out.
Fact: HomeEquity Bank’s conservative lending practices allow clients to take a maximum of 55% of the home’s appraised value. In fact, 99% of HomeEquity Bank’s clients have equity remaining in the home when the loan is repaid.
Our clients are our family and we are committed to delivering personalized experiences and solutions custom tailored to each unique financial situation. This philosophy translates to higher approval ratings and more peace of mind.
