Everything people actually ask us.

A reverse mortgage lets homeowners 55+ access tax-free equity with no required monthly payments — commonly up to about 55% of the home's value, sometimes higher under certain programs for older homeowners. The exact advance depends on age, property, location and product. Qualifying is based on the home and your age, not income or credit — there's no stress test.

Yes. You stay on title as the owner — nothing about ownership changes. Your ongoing obligations are the ones you already have: keep the property taxes and home insurance current, and keep the home as your residence.

When the home is sold or the last borrower moves out — there's no fixed term and no required payments along the way. A no-negative-equity guarantee applies: neither you nor your estate ever owes more than the home's fair market value.

Compounding. With no payments, interest accrues onto the balance, so the debt grows while you stay — that's the product working as designed, not a trick. The real question is whether the equity you're consuming buys something worth more to you than the inheritance it reduces. We put the year-by-year math in front of you before any decision.

No required payments — that's the core of the product. But payments are optional, not forbidden: most lenders let you pay the interest monthly to keep the balance flat, and let you stop again whenever you like. Our calculator shows both paths side by side.

The advances are loan proceeds, not income — so they're tax-free and generally don't affect income-tested benefits the way investment withdrawals can. For the interaction with your specific benefits and estate plan, we encourage a conversation with your accountant or advisor, and we're happy to join it.

Plan for one-time closing costs paid from the advance: legal work (about $1,500–2,500), independent legal advice (about $400–800), and the appraisal. Independent legal advice — your own lawyer confirming you understand the product — is standard on reverse files.

Yes — an all-ages private equity-release product: no payments for up to five years and no prepayment penalties (BC, ON and AB), with interest accruing onto the balance and repayment on sale or refinance. Terms vary by lender and property; it's a bridge product rather than a lifetime one.

Yes — reverse-for-purchase pairs your down payment with a reverse advance on the new home, so you right-size without taking on a monthly payment. It's a common move from the family house to the easier-to-keep one.

If your income qualifies and the payment is comfortable — often yes, and we'll tell you so. The reverse products earn their place when qualifying or cash flow is the problem: no stress test, no payment, no risk of a missed-payment default. We run both numbers before recommending either.