Mortgage Broker

Reverse Mortgages

Are Reverse Mortgages Safe?

This is one of the most common, and understandable questions when considering a reverse mortgage.
Turning 55 means you have access to reverse mortgage products, but are they for you?
If standard financing options are available, there may be a custom solution that is more suitable than a reverse mortgage.
For some borrowers, mainly those who have a desire to remain in their homes, a reverse mortgage can be the key to a happy retirement.
 
Reverse Mortgages are a unique financial product designed to help homeowners aged 55 and older access the equity in their homes without having to sell or move. This can provide you with the funds you need to enjoy retirement, cover medical expenses, or take care of other financial needs.

BENEFITS OF A REVERSE MORTGAGE

Tax-Free
Cash

Access the equity in your home without triggering a taxable event.

No Monthly Payments

You don’t need to make regular payments as long as you live in your home, although you may choose to make payments to preserve your home’s equity.

Retain Home Ownership

Maintain ownership and continue to live in your home.  You will never owe more than your home is worth.

Flexible Payment Options

Receive your funds as a lump sum, regular monthly payments, or a combination of both.

Financial Freedom

Use the funds for any purpose – from covering living expenses and healthcare costs to funding home renovations or travel.

Is a reverse mortgage right for you?

Reverse mortgages is a beneficial option for: 

 Individuals who have paid off their home or have substantial equity.
Those looking to supplement their retirement income.
• Homeowners who want to stay in their home but need additional funds.

How to Get Started 
  1. Consultation: Contact us to discuss your financial needs and determine if a reverse mortgage is right for you.
  2. Assessment: We evaluate your home’s value and your eligibility for a reverse mortgage.
  3. Application: Complete a simple application process with our guidance.
  4. Approval and Funding: Once approved, receive your funds and enjoy the financial flexibility provided by your reverse mortgage.
Mike Boniferro
Mortgage Broker
Originator Licence #M18001301

TLC Mortgage Group
Independently Owned and Operated