Reverse Mortgage2023-03-08T13:12:57-08:00
Home/mortgage refinance/Reverse Mortgage
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Reverse Mortgage

Discover How A Reverse Mortgage Can Be The Right Solution For You

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Is A Reverse Mortgage The Right Choice For You?

Every Canadian should have a financially secure retirement. The option of a reverse mortgage can unlock the potential of your home allowing you to access equity without having to sell or move.

If you’re considering a reverse mortgage, talk to one of our knowledgeable experts right away. Take your time deciding whether it is the best option for you, and get all of the information you need to make an educated decision.

IMI Financial Group has access to a multitude of lenders to shop for your best rates without the hassle of leaving your home.

With a reverse mortgage, you get the funds you need tax free.

  • Secure your retirement
  • Live in the place you call home
  • Pay off your existing home loan
  • Receive cash tax free
  • easy set up
  • don’t pay until you sell, move or pass away

Reverse Mortgage also known as equity release is a form of a loan that does not require any type of payment back during the term of the loan until you wish to move or sell. This turns a portion of your home into a source of cash that is tax free.

This is a type of loan that allows young seniors 65 or older to withdraw money from their home equity, interest-free or with a low-interest repayment schedule.

A reverse mortgage is different from a regular mortgage in that it’s designed to let you turn your home equity into cash without having to make monthly payments. Continue living in the home and reverse mortgage payments will not affect your ability to stay in the house.

you can get money one of two ways: lump sum or line of credit. Receive all the money up-front, or take out extra cash whenever you need it using a reverse line of credit. The interest rate is usually about 1% – 2% lower than a regular mortgage, making it an affordable way to access cash.

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Why A Reverse Mortgage Can Be The Right Solution For You

The key benefits of a reverse mortgage is:

Stay In The Home You Love

You get to stay in your home for as long as you want, you can use the equity in your home to supplement your income and the loan is tax-free.

No Monthly Payments

There are no monthly mortgage payments required – although you are still responsible for property taxes, insurance, and maintenance. 

Property Pays For Loan

The loan does not need to be repaid until the last borrower leaves the home or dies. At that time, the estate would repay the loan.

You Can Apply For A Reverse Mortgage If You:

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