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What is a
Reverse Mortgage?
A reverse mortgage is a loan secured against the value of your home. It lets you unlock the value in your home without having to sell or move.

Reverse Mortgages have been helping Canadians since 1986.
  •  Pay off debts.
  •  Improve your home.
  •  Handle unexpected expense.
  •  Help your children or grand children.
  •  Improve your day-to-day standard of living.
  •  Make a special trip or purchase.
  •  Renovate or make your home more accessible.
  •  Additional income to supplement your pension during retirement. 
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    How to Qualify for a Reverse Mortgage?
    •  You must be a Canadian Home Owner
    •  You and anyone on title must be at least 55 Years of Age.
    •  The home must be your primary residence
    •  Any existing mortgages, or loans secured against your home, must be paid off using the reverse mortgage funds. Whatever is left over is yours to keep!
    You can access up to 55% of your homes equity depending on:
    •  Your Age
    •  The Home Location
    • The Property Type
    •  The Home Evaluation
    Benefits of a
    Reverse Mortgage
    •  Keep your home. Stay in your home and community. Maintain complete ownership and control of your home for as long as you choose to stay.
    •  No Payments. With CHIP you never have to make regular payments until you no longer live in the home. ONLY thing you are responsible for is the property taxes, valid home insurance and keeping the home well maintained.
    •  Relieve Financial Stress. Use up to 55% of the equity in your home to pay off debts to handle unforeseen expenses.
    •  You Receive the money Tax Free.  It is not added to your taxable income.
    •  Take Control. Get your finances under control and gain freedom 
    •  Enjoy Retirement. You can use the money any way you wish. Vacation, help family, renovate your home.
    Continue Below To Learn About Popular Reverse 
    Mortgage Myths And Facts
    How Does It Work?
    Review how much money you will have access to by getting your free estimate.
    Our team will contact you to reconfirm your information and answer any questions you may have.
    Receive the funds either in installments or in a lump sum, which ever you prefer.
    No repayment is needed, unless you are no longer in your home. 
    As licensed Mortgage Brokers, our services are completely free. We understand how hard you have worked for the equity in your home. Let us show you how that equity can work for you so that you won't have to. Your home can be the key to your retirement.
    We understand how important the safety of your home is. We are certified specialists who work with you to educate you on this process and ensure that it is a right fit for you. Our team will make sure that this is a decision that fits with your plans and goals for the future.
    Ready To Get Started?
    Just click the button below to get started on securing your reverse mortgage now!
    Myths about Reverse Mortgages
    The bank owns my home
    The homeowner always maintains title ownership and control of their home. They have the freedom to decide when and if they'd like to move or sell.
    Those with a Reverse Mortgage will owe more than their house is worth
     Home Equity Bank's conservative lending practices allow clients to take a maximum of 55% of the home's appraised value. 
    Reverse Mortgages are too expensive because the rates are high
    Rates are modestly higher than regular mortgages because there are no payments required. Rates are often as low as Prime plus 1.25%
    A Reverse Mortgage is a solution of last resort.
    Many financial professionals recommend a reverse mortgage because it's a great way to provide financial flexibility. Since it's tax-free money, it allows retirement savings to last longer.
    Even More Myths Revealed...
    A Home Equity Line of Credit (HELOC) is a better option.
    HELOC's can be a good short-term borrowing option but they are callable loans and there exists significant risk of non renewal or cancellation.
    In comparison, a reverse mortgage is a long-term financial solution that wouldn't be called based on economic changes such as interest rates increasing, property values decreasing, or a change in the homeowner's income. 
    The Homeowner cannot get a reverse mortgage if they have an existing mortgage.
    Many of our clients use a reverse mortgage to pay off their existing mortgage and debts, freeing up cash flow for other things.
    The bank can force the homeowner to sell or foreclose at any time.
    A reverse mortgage is a lifetime product, and as long as property taxes and insurance are in good standing, the property remains in good condition, and the homeowner is living in the home, the loan won't be called even if the house decreased in value. Reverse mortgages provide peace-of-mind that the homeowner can stay in their home as long as they'd like.
    Surviving spouses are stuck paying the loan after the homeowner passes away.
    Surviving spouses can choose to remain in the home without having to make a payment unless they choose to sell the home.
    Here Is What Our Clients Have To Say
    Brad is a Mortgage Broker with Dominon Lending Centres the Mortgage Source a National Mortgage Brokerage which enables him to help people across Canada. Brad also is the owner of Town Financial which focuses on Estate Planning, Retirement Planning, Life Insurance and Investments. Brad is passionate about educating and helping people by understanding their current situation and their future goals. Give him a call to discuss yours.
    Feel free to reach out if you have any questions!

    Toll Free.  1-877-230-8872
    Local.  613-714-9499
    Town Financial Website:

    20 Bennett Street - Suite 201
    Carleton Place, ON K7C 4J9
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